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Tuesday, May 18, 2021 3:26:30 PM
Financial Highlights for Three Months Ended Mar 31, 2021
· Net Cash increased 2,679% on a sequential quarterly basis to $2,394,585
· Accounts Receivable increased 73% on a sequential quarterly basis to $67,420
· Total Current Assets increased 1,105% on a sequential quarterly basis to $2,564,247
Operational Highlights for Three Months Ended Mar 31, 2021
Signed comprehensive Hosting and Maintenance Agreement with Scrubgrass Generating Company, LLP and Bit5ive, LLC
Successfully tripled active cryptocurrency mining fleet with the addition of two (2) new POD5IVE datacenters
Paid off and cancelled major $363k convertible debt note
Beneficially restructured relationship Paradigm Home Health agreement terms, increasing revenue share from related operations by up to 40%
The first quarter of 2021 was a period of transition that paves the way for monetization of prior investments in both of the Company’s major operating segments: Telehealth and Home Healthcare and Renewable Energy Cryptocurrency Mining.
In its Telehealth and Home Healthcare segment, while total net sales for the three months ended March 31, 2021, fell below levels recorded in prior periods, total operations expanded, pushing official recognition of sales from Q1 into the Q2 operating period, pending collection. In addition, the Company has seen growth in clientele so far in Q2.
The Company’s Renewable Energy Cryptocurrency Mining segment should show its first tangible results in Q2 after significant investments over the past three quarters.
Pierce added, “Our current focus is on implementation of a renewable energy sourcing plan that will get our mining operations closer to the 0% carbon emission standard. We support the current technology industry roadmap of implementing and sourcing only renewable energy resources, and we believe this will enhance our net profitability over the long term. This was always our end game, which should be clear given our initial mining launch at the Pennsylvania renewable energy mining project. We are committed to a brighter, healthier, and cleaner future.”
https://ca.finance.yahoo.com/news/isw-holdings-releases-financial-operational-115200403.html
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