OLB Group reports Q3 EPS (92c) vs. ($1.21) last year

Reports Q3 revenue $3.1M vs $9.7M last year. The decrease in revenue during the period was a direct result of write-off of the CDB portfolio at the end of 2023. Merchants in the acquired portfolio were removed due to improper initial underwriting discovered after the acquisition. The matter is the subject of ongoing litigation with both FFS Data Corp., the seller, and Clear Fork Bank, the underwriting bank.