Tokens.com Reports Financial Results for Q2 2024
Q2-2024 Financial and Operating Highlights
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Revenue of
$286k and$505k , respectively, for the three and six months endedMarch 31, 2024 , compared to revenue of$303k and$455k , respectively, for the three and six months endedMarch 31, 2023 (“Q2-2023”); -
$4.0 million and$6.6 million , gain on revaluation of digital assets - cryptocurrencies for the three and six months endedMarch 31, 2024 ; -
117% increase in the value of digital assets - cryptocurrencies to
$12.6 million , since the end ofSeptember 2023 ; -
Net income of
$3.8 million and$5.9 million for the three and six months endedMarch 31, 2024 ; -
Basic and diluted earnings per share of
$0.03 and$0.05 , respectively, for the three and six months endedMarch 31, 2024 ; -
55% reduction of operating expenses compared to the same quarter the prior year to
$480k from$1.1 million ; and -
25% reduction of operating expenses compared to the same 6-month period the prior year, from
$1.8 million to$1.3 million .
Conclusion of Strategic Review
On
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The Company’s key domain,
Tokens.com , was placed for sale inJanuary 2024 with an ask price of$8 million ; -
The disposition of the assets of
Metaverse Group andHulk Labs toStoryFire Inc. , onMarch 1, 2024 , in exchange for a 15.3% equity interest inStoryFire Inc. , and$500,000 in StoryFire Blaze tokens (priced atMarch 1 ); -
A move from the
CBOE Exchange to theTSX Venture Exchange , effective onMarch 28, 2024 ; and -
The acquisition of
Simulacra Corporation (“Simulacra”) onApril 8, 2024 . Simulacra operates three subsidiaries focused on the integration of AI and high quality, humanoid robots.
“In 2024,
A complete financial reporting package, including the Unaudited Condensed Consolidated Interim Financial Statements and Management’s Discussion & Analysis, is available on our corporate website (www.tokens.com), and the SEDAR+ website (www.sedarplus.ca).
An investor call has been scheduled to discuss the Company’s Q2-2024 financial results, hosted by CEO
Conference Call Details:
Date:
Time:
Zoom Webinar Registration:
https://us06web.zoom.us/webinar/register/WN__H9ESWIYQUSUbhOVTir7sQ
To join the webinar, register using the link provided above. Upon registration a Zoom link will be emailed to the registered email address. The webinar will be available via computer, tablet, and smartphone devices. In addition, a dial-in phone number will be provided in the email upon registration. Callers dialing in using a telephone will automatically be placed in a listen only mode. The question period will not be available to dial-in callers.
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Forward-Looking Statements
This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of cryptocurrencies, as described in more detail in our securities filings available at www.sedarplus.ca. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240509724814/en/
Email: contact@tokens.com
Email: contact@tokens.com
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