Monday, April 04, 2022 8:57:36 AM
TORONTO, April 04, 2022--(BUSINESS WIRE)--Tokens.com Corp. (NEO Exchange Canada: COIN)(Frankfurt Stock Exchange: 76M) (OTCQB US: SMURF) ("Tokens.com" or the "Company"), a publicly-traded company that invests in Web3 crypto assets and businesses linked to the Metaverse, Defi, Blockchain Gaming and NFTs, is pleased to report its financial results for the 12 months ending December 30, 2021.
"Q4 was our third quarter as a public company and our second full quarter with the proceeds from the April 2021 fundraise deployed," said Andrew Kiguel, CEO of Tokens.com. "We achieved several milestones in 2021, including going public and two capital raises. We diversified our investments into new Web3 verticals including blockchain gaming and building a significant business in the Metaverse sector."
All dollar figures are in United States dollars ("USD"), unless otherwise stated.
2021 Operational Highlights:
- CAD$25M equity raise in March followed by listing on NEO Exchange in Canada.
- Commencement of trading in Europe on the Frankfurt Stock Exchange.
- Commencement of trading in the United States on the OTC Venture Market.
- Purchase of numerous tokens during the year – Bitcoin, Binance Coin, Polkadot, Axie Infinity, Ethereum, Ankr, Terra Luna, Shiba Inu, and Solana.
- Majority control of Metaverse Group.
- Largest acquisition in Metaverse real estate history in Fashion District and announcement agreement with Decentraland to host the first-ever Metaverse Fashion Week which was held in March 2022.
- Successful growth in Metaverse assets and in building a fully integrated Metaverse real estate business.
- Successful closing in November of CAD$16M unit offering consisting of one common share and ½ warrant.
- Acquisition of digital assets worth $30.3M, total assets increased to $43.6M
- Adjusted Net Income of $0.7M after removal of non-cash and one-time charges of $8.9M
- Adjusted Comprehensive Income of $1.6MM after removal of non-cash and one-time charges of $5.5M
- Positive staking operating margin of 97%
- 19.2% annualized staking returns on our cost basis
- Net gain on revaluation of digital assets before tax of $2.3M
- 30% growth in cryptocurrency digital assets from Q3
- Adjusted Net Income of $0.1M after removal of non-cash and one-time charges of $3.8M
- Adjusted Comprehensive Income of $4.3M after removal of non-cash and one-time charges of $5.9M
- Positive staking operating margin of 98%
- 28.4% annualized staking returns on our cost basis
- Net gain on revaluation of digital assets before tax of $1.3M
Operations began in 2020 with a focus on crypto staking. This involved using our balance sheet capital to purchase an inventory of tokens and staking them to earn compensation in additional tokens.
Today, Tokens.com has three Web3 verticals. The first vertical is involved in the purchase and staking, through PoS technology, of tokens. The second vertical is Metaverse Group, a majority owned subsidiary focused on building a virtually integrated digital real estate business. The third vertical is a wholly owned subsidiary called Hulk Labs which is focused on holding NFT assets and investing in crypto based games that have a token return attached to them. Tokens.com leverages its human resources across the three verticals and seeks to utilize synergies between these businesses which are all based on the same blockchain technology.
Our investment approach is to identify the key trends happening in the crypto and web3 sector and purchase assets and build businesses linked to the macro growth of these areas. We remain confident that our assets and businesses are poised for further growth in 2022 and beyond.
November 2021 saw all time highs for many cryptocurrencies. Since then, the backdrop has been less positive. Fears around inflation and interest rate hikes dominated financial news in December and January. In addition, fears of a war between Russia and Ukraine materialized in February creating volatility in world financial markets. Tokens.com shares were impacted by this, although there were no material undisclosed matters.
2021 revenue is solely from our staking operations, which is still in its building phase. Our industry moves quickly and much has developed since the end of 2021, which is outlined above. We look forward to continuing to create value for shareholders ahead.
Tokens.com management team achieved several accomplishments in 2021, including going public. Although capital markets have been volatile, our business has been consistently growing. Management is committed to building shareholder value over the long term and providing investors with exposure to Web3 assets and businesses.
Tokens.com seeks to stake tokens that are linked to the fast-growing DeFi and NFT sectors. The tokens we stake are the programmable building blocks required by DeFi and NFT applications. Thus, as those sectors grow, the greater the requirement for third party stakers like Tokens.com. Tokens custodies its digital assets with Coinbase, a SOC 1 type 2 certified digital asset custodian, a non-related party. See Coinbase Custodial agreement below.
Q4 was our third quarter as a public company and our second full quarter with the proceeds from the April 2021 fundraise fully deployed. Tokens.com benefited significantly from the rebound in cryptocurrencies during Q3 & Q4 as is evidenced by the token price appreciation of the top 5 cryptocurrencies held by the Company as follows:
A complete financial reporting package, including the Condensed Consolidated Financial Statements and Management’s Discussion & Analysis, is available on our corporate website (https://www.tokens.com), and the SEDAR website (https://www.sedar.com).
An investor call has been scheduled to discuss the Company’s 2021 financial results, hosted by CEO Andrew Kiguel, starting at 4:00 pm ET on April 4, 2022.
Conference Call Details:
Date: April 4, 2022
Time: 4:00 p.m. ET
Dial-In: 1 (866)455-3403
Passcode: 57798376#
About Tokens.com
Tokens.com Corp is a publicly traded Web3 company that owns and invests in an inventory of Metaverse, NFT, DeFi, and gaming based digital assets. Tokens.com’s focus is to invest in and build Web3 businesses through its primary entity and subsidiaries. Tokens.com is the majority owner of Metaverse Group, one of the world’s first virtual real estate companies. Hulk Labs, a wholly-owned Tokens.com subsidiary, focuses on investing in play-to-earn revenue generating gaming tokens and NFTs. Additionally, Tokens.com owns and stakes crypto assets to earn additional tokens. Through its growing digital assets and NFTs, Tokens.com provides public market investors with a simple and secure way to gain exposure to Web3.
Visit https://Tokens.com to learn more.
Keep up-to-date on Tokens.com developments and join our online communities on Twitter, LinkedIn, and YouTube.
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 https://www.sedar.com. 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/20220404005540/en/
Contacts
Tokens.com Corp.
Andrew Kiguel, CEO
Telephone: +1-647-578-7490
Email: mailto://contact@tokens.com
Jennifer Karkula, Head of Communications
Email: mailto://contact@tokens.com
Media Contact: Ali Clarke – Talk Shop Media
Email: mailto://ali@talkshopmedia.com
Recent COIN News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/07/2024 08:15:32 PM
- Tellor Tributes Skyrocket 104% in May, Marathon Digital Set to Enter S&P SmallCap 600, and More Crypto News • IH Market News • 05/07/2024 06:48:02 PM
- Bitcoin Hits 1 Billion Transactions, Vodafone Turns Smartphones into Digital Wallets, and More Crypto News • IH Market News • 05/06/2024 06:13:29 PM
- Bitcoin Surges Post Jobs Report, Coinbase Reveals $1.2 Billion 1Q Net Profit, and More Crypto News • IH Market News • 05/03/2024 07:26:30 PM
- Coinbase Releases First Quarter 2024 Shareholder Letter • Business Wire • 05/02/2024 08:11:00 PM
- Block Innovates Bitcoin Mining, DOJ Proposes 3-Year Prison for Changpeng Zhao, and More Crypto News • IH Market News • 04/24/2024 05:50:55 PM
- AKT Token Skyrockets on Upbit Listing, IBIT Holds Strong in Top 10 ETFs, and More Crypto News • IH Market News • 04/23/2024 04:34:08 PM
- BTC Mining Activity Surges Post-Halving, GatlingX Unveils Revolutionary EVM and More Crypto News • IH Market News • 04/22/2024 06:33:32 PM
- Li Auto Stock Drops 7.3% Amid Tesla Price Cuts, Salesforce Retreats from Informatica Deal, and Other Market Updates • IH Market News • 04/22/2024 12:09:21 PM
- Expectations for Bitcoin Halving, Tether Expands Stablecoins on TON Blockchain, and More Crypto News • IH Market News • 04/19/2024 05:26:46 PM
- Coinbase Announces Date of First Quarter 2024 Financial Results • Business Wire • 04/18/2024 08:05:00 PM
- Samsung Surpasses Apple in Q1 Smartphone Market; Salesforce in Talks to Acquire Informatica, and More News • IH Market News • 04/15/2024 11:06:48 AM
- Coinbase to Launch PEPE Futures, Uniswap Grapples with SEC, and Latest Crypto News • IH Market News • 04/11/2024 07:14:34 PM
- Crypto: Cardano Implements Critical Updates, dYdX Faces Disruption, and More • IH Market News • 04/08/2024 06:05:22 PM
- Boeing Down in Pre-Market Due to CEO Developments and Denver Incident; MicroStrategy Surges 11% with BTC Spike, and More • IH Market News • 04/08/2024 11:17:49 AM
- Crypto: Morgan Stanley and UBS Compete for Leadership in Bitcoin ETFs, Risks in Ethena’s USDe Strategy, and More • IH Market News • 04/05/2024 06:15:55 PM
- Crypto: Bitcoin Cash Surges Post-Halving, PayPal Launches PYUSD International Transfers and More Updates • IH Market News • 04/04/2024 07:15:41 PM
- Coinbase obtains registration as a Restricted Dealer in Canada • GlobeNewswire Inc. • 04/04/2024 02:00:00 PM
- BTC and ETH Suffer Sharp Decline on Tuesday; Key Crypto Market Events in April, and More News • IH Market News • 04/02/2024 07:02:46 PM
- Walgreens Slashes Annual Profit Forecast; MillerKnoll Nosedives 17% on Bleak 4Q Outlook, and Latest News • IH Market News • 03/28/2024 01:48:04 PM
- Crypto: AI Token Merger, Hashdex ‘DEFI’ ETF Launch, and Latest News • IH Market News • 03/27/2024 08:06:59 PM
- Super Micro Computer and Seagate Shares Surge on Analyst Optimism in Pre-Market Trading, and Latest News • IH Market News • 03/26/2024 11:20:49 AM
- Crypto: Bitcoin ETFs Experience 3 Consecutive Days of Outflows, CryptoPunk Fetches $16.42M in Sale, and More • IH Market News • 03/21/2024 07:17:25 PM
- JPMorgan boosts dividends, Chipotle unveils 50:1 stock split, and Latest News • IH Market News • 03/20/2024 11:15:48 AM
- Crypto: Bitcoin Plummets, Grayscale Promises Lower Fees, and Latest News • IH Market News • 03/19/2024 05:16:16 PM
FEATURED Cannabix Technologies Launches New Compact Breath Logix Workplace Series and Prepares for Delivery to South Africa • May 7, 2024 8:51 AM
Moon Equity Holdings, Corp. Announces Acquisition of Wikolo, Inc. • MONI • May 7, 2024 9:48 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM