Everything Blockchain Inc (EBZT)

[lesgetrich]

In a previous PR and it was noted that the revenue came from one large development contract.

But as mentioned in the other PR it was noted that the majority came from the "involvement" in HEX.

As HEX is a fully functional and not under development Crypto - I still don't see where the accretive growth is coming from in a development.

These aren't mutually exclusive. HEX can be a fully developed cryptocurrency (meaning the code governing the creation and properties of Hex is fully developed). From CryptoExplained.com...

Contrary to BTC, the HEX code is an immutable and open source. It is an externally audited token. No bugs and the system is reliable. Hex has security and economy audited from Chainsecurity and CoinFabrik.

That doesn't mean that users can't write application code that is designed to use Hex tokens. they seem to have a programming project that is consistently bringing in $1.2 million in Services Revenue per month.

You posted several references to revenue earned from the sale of crypto currencies. This all should have appeared under "Other Revenue" on their financials. However, as you pointed out they also took a loss on the 420 Cloud software that was impaired and sold. It would seem to me that this loss might have been recorded under Other Income (Loss) and thus offset the gains from the sale of the crypto that were noted. In any event, with the two recent acquisitions and the future planned ones noted in today's PR, we should see some significant growth in services revenue over the next year.

Also, the fact that they were paid in Hex tokens for one of their project does not change the accounting. The value of those tokens would still be added to the Financials as Services Revenue (not Other Revenue)