Neptune Digital Assets Provides Corporate Update and Financial Highlights
23 12월 2020 - 2:58AM
Neptune Digital Assets Corp. (TSX-V:DASH) (OTC:NPPTF)
(FSE:1NW) (“
Neptune” or the
"
Company") is pleased to announce that it has
released its August 31, 2020 audited financial statements and
management, discussion and analysis.
Below are a number of financial highlights
pertaining to the August 31, 2020 year end and for the period
subsequent to year end and up to the date of this News Release.
- Over the last
two years the Company has been aggressively cutting costs and as
such has achieved an annual positive net comprehensive income for
its first time being $657,249 or $0.01 per share for the 12 months
ended August 31, 2020.
- Assuming
crypto prices stay constant or climb higher, we expect these
earnings to improve significantly into 2021 and beyond with
operating costs remaining relatively constant.
- Neptune had a
35% growth in total assets as of August 31, 2020 over the prior
fiscal year and expects this to continue into Q1 and Q2 of the 2021
fiscal year given the rise in crypto prices since August 31,
2020.
- The Company’s
cost cutting measures lowered cash costs for operations for the
year by 34% from prior year to $368,559.
- The Company
has zero debt at the year end and as of the date of this News
Release.
- The Company
commenced a diversification strategy during the year which resulted
in over 8,000 DASH tokens liquidated and proceeds being directed
into the Protocol Fund (USD$250,000) which was worth $392,088 as at
August 31, 2020 and to purchase an additional 46 BTC with an
average cost base of approximately $11,784 ($9,065 USD) per
BTC.
- The Company
had 50 BTC loaned to Genesis Trading as at August 31, 2020 earning
6.5% interest per annum paid in BTC monthly, providing a consistent
income stream of BTC for re-investment.
- Subsequent to
August 31, 2020, the Company acquired another 20 BTC in exchange
for 3,118 DASH tokens, effectively averaging USD$10,510 per BTC.
This BTC was also loaned out to Genesis Trading generating further
BTC interest revenue for the Company.
- The Company’s
three largest digital asset holdings as of the date of this release
are 75 BTC, 138,500 ATOM and 6,070 DASH. The Company also holds
positions in ETH, Litecoin, Stellar, NEO, OMG, QTUM, FTM as well as
the investment in the Protocol Crypto Fund and cash for strategic
crypto currency purchases and operations.
- The Company
continues to purchase crypto monthly in order to dollar cost
average and is always optimizing its crypto portfolio in order to
maximize growth for shareholders.
- Neptune has
been building a position in ETH subsequent to year end and is
planning to join the Ethereum network with its move to a
proof-of-stake consensus algorithm. Neptune will operate Ethereum
validators that verify transactions on the network and receive
revenue for the staking process. We plan to use the revenue to
compound our growth of validators.
“All in all, 2020 has been a very challenging
yet rewarding year for Neptune. Since our initial listing into a
dismal bear market in 2018 we have stayed the course and stuck to
our principles of sound management, low operating costs, negligible
dilution and strategic growth of our crypto holdings. We are quite
happy with where we are when compared to our peers, many of whom
have negative working capital combined with net losses. We
anticipate the crypto winter is behind us and it is only blue sky
from here. We would like to thank all our shareholders who have
stuck with us over the years,” stated Cale Moodie, Neptune CEO.
About Neptune Digital Assets
Corp.
The Company has a diversified cryptocurrency
portfolio with investments made in top market cap tokens,
proof-of-stake cryptocurrencies, decentralized finance and
associated blockchain technologies.
ON BEHALF OF THE BOARD
Cale Moodie, President and CEONeptune Digital
Assets Corp.www.neptunedash.com
Forward-Looking Statements
This release contains certain “forward looking
statements” and certain “forward-looking information” as defined
under applicable Canadian securities laws. Forward-looking
statements and information can generally be identified by the use
of forward-looking terminology such as “may”, “will”, “expect”,
“intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans”,
“proposes” or similar terminology. Forward-looking statements and
information include, but are not limited to, the future prices of
crypto currency and their likelihood of staying constant or
climbing higher; the Company’s future earnings and operating costs;
the Company’s future growth in total assets; the Company’s strategy
to purchase crypto currency and optimize its crypto portfolio; the
Company’s ability to effectively dollar cost average its purchases
of crypto currency; and the future outlook of the crypto currency
market generally. Forward-looking statements and information are
based on forecasts of future results, estimates of amounts not yet
determinable and assumptions that, while believed by management to
be reasonable, are inherently subject to significant business,
economic and competitive uncertainties and contingencies.
Forward-looking statements and information are subject to various
known and unknown risks and uncertainties, many of which are beyond
the ability of the Company to control or predict, that may cause
the Company’s actual results, performance or achievements to be
materially different from those expressed or implied thereby, and
are developed based on assumptions about such risks, uncertainties
and other factors set out herein, including but not limited to: the
inherent risks involved in the cryptocurrency and general
securities markets; the Company’s ability to successfully mine
digital currency; revenue of the Company may not increase as
currently anticipated, or at all; the Company may not be able to
profitably liquidate its current digital currency inventory, or at
all; a decline in digital currency prices may have a significant
negative impact on the Company’s operations; the volatility of
digital currency prices; uncertainties relating to the availability
and costs of financing needed in the future; the inherent
uncertainty of production and cost estimates and the potential for
unexpected costs and expenses, currency fluctuations; regulatory
restrictions, liability, competition, loss of key employees and
other related risks and uncertainties. The Company does not
undertake any obligation to update forward-looking information
except as required by applicable law. Such forward-looking
information represents management's best judgment based on
information currently available. No forward-looking statement can
be guaranteed and actual future results may vary materially.
Accordingly, readers are advised not to place undue reliance on
forward-looking statements or information.
Neptune Digital Assets (TSXV:DASH)
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Neptune Digital Assets (TSXV:DASH)
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