Immutable Holdings Inc Announces Second Quarter 2022 Financial Results
Net Income of $3.7 Million Within the Quarter Driven by $8.5 Million in Revenues as the Company Continues to Grow.
TORONTO, Aug. 17, 2022 (GLOBE NEWSWIRE) -- Immutable Holdings Inc. (NEO:HOLD) (“Immutable Holdings” or the “Company”), a publicly-traded blockchain holding company, is pleased to announce its quarterly financial results for the three and six month periods ended June 30, 2022.
“We’re very pleased with the results,” said Jordan Fried, founder and CEO of Immutable Holdings. “We will continue to build and remain focused on our mission – same as last quarter, same as next.”
Select Financial and Operating Highlights for the Second Quarter 2022 (expressed in Canadian Dollars):
In April 2022, the Company launched NFT.com with the sale of its Genesis Keys collection which are unique fully animated, non-fungible tokens (“NFTs”). The Genesis Keys are separable into five identifiable NFTs, including the key and four unique profile mints on the NFT.com platform along with access to the team and the roll-out of the broader platform.
Total revenues of $8.5 million recognized for the three months period ended June 30, 2022, and $8.7 million for the six months period ended June 30, 2022.
Total net income of $3.7 million for the three months period ended June 30, 2022, and net loss of $0.97 million for the six months period ended June 30, 2022.
Total assets as at June 30, 2022 of $24.6 million, including $20.2 million in cash, $0.2 million in digital assets, and a $2.6 million digital asset loan receivable.
Additional Information and Access to Quarterly Financial Statements and Management Discussion and Analysis:
Complete results are reported in the Company's condensed interim consolidated financial statements for the three and six month periods ended June 30, 2022, and associated management's discussion and analysis, which can both be accessed on Immutable Holdings’ profile on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com.
About Immutable Holdings Inc.
Immutable Holdings Inc. (NEO:HOLD), is on a mission to democratize access to Web3 and blockchain-based products and services. Founded by Jordan Fried, a founding team member of multi-billion dollar Hedera Hashgraph network, Immutable Holdings already boasts tens of millions under management and a portfolio of businesses and brands built on the blockchain ecosystem, including NFT.com, Immutable Asset Management, and 1-800-Bitcoin. For further information regarding Immutable Holdings, visit https://immutableholdings.com/ and see the Company’s disclosure documents on SEDAR at www.sedar.com.
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:
This news release contains certain statements which constitute forward-looking statements or information under applicable Canadian securities laws, including with respect to NFT.com, Genesis Keys and statements regarding the outlook for the Company’s business and results of operations. All statements other than statements of historical fact are forward-looking statements, and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often using phrases such as “expects”, “anticipates”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends”, or variations of such words and phrases, or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are subject to numerous known and unknown risks, uncertainties and other factors, some of which are beyond the Company’s control, which could cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. These risks and uncertainties include, without limitation, changes to applicable laws or the regulatory sphere in which the Company operates, general economic and capital markets conditions, stock market volatility and the other risks disclosed in the Company's annual information form dated March 31, 2022 and other disclosure documents available on the Company's profile at www.sedar.com. The foregoing is not an exhaustive list of factors that may affect the Company’s forward-looking statements. Other risks and uncertainties not presently known to the Company and/or not specifically referenced herein could also cause actual results or events to differ materially from those expressed in its forward-looking statements.
Although the Company believes that the forward-looking statements in this news release are reasonable, they are based on factors and assumptions, based on currently available information, concerning future events, which may prove to be inaccurate. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future plans, operations, results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise.
