THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR RELEASE, PUBLICATION OR DISSEMINATION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
TORONTO, Dec. 01, 2020 (GLOBE NEWSWIRE) — Blockchain Foundry Inc. (“BCF” or the “Firm”) (CSE:BCFN), a number one North American blockchain growth agency, is happy to report its monetary outcomes for the three and 9 months ended September 30, 2020. The Firm’s full Monetary Statements and Administration Dialogue & Evaluation (“MD&A”) can be found at www.sedar.com. All quantities are reported in Canadian {dollars} until in any other case said.
Monetary Highlights
The next desk summarizes income and internet revenue (loss) for the three and 9 months ended September 30, 2020 and September 30, 2019.
| Three months ended September 30, 2020 |
Three months ended September 30, 2019 |
Change | Proportion Change |
|
| Income | 227,410 | 214,744 | 12,666 | 6% |
| Internet Revenue | 74,334 | 38,935 | 35,399 | 91% |
| 9 months ended September 30, 2020 |
9 months ended September 30, 2019 |
Change | Proportion Change |
|
| Income | 1,124,081 | 526,714 | 597,367 | 113% |
| Internet Revenue (Loss) | 141,974 | (467,322) | 609,296 | not significant |
“In Q3 2020, BCF achieved optimistic internet revenue and a rise in income in contrast with Q3 2019. This final result was a direct results of elevated shopper growth exercise in addition to rising market acceptance of blockchain know-how. The Firm has 5 energetic purchasers in numerous mission levels, and our pipeline is powerful. We now have additionally taken the chance to capitalize the enterprise over the previous few months. We’re nicely positioned to proceed increasing our consulting enterprise and start to discover product alternatives that make the most of our important experience within the blockchain house,” stated Dan Wasyluk, CEO of Blockchain Foundry.
Outlook
The Firm continues to develop its suite of blockchain infrastructure know-how merchandise and construct its blockchain growth and advisory enterprise.
On the product aspect, BCF is constructing core know-how to allow extremely scalable, low price, excessive pace blockchain transactions (Z-DAG), enable customers to include a number of blockchain programs inside the similar mission (Syscoin-Ethereum bridge), and initialize customized blockchain tokens (Spark Pockets). BCF’s know-how infrastructure is appropriate for quite a lot of use instances the place pace, scalability, charges and safety are vital elements, together with stablecoin initiatives, loyalty functions, digital identities, and remittance companies.
On the advisory aspect, BCF endeavours to work with purchasers who share the identical priorities and imaginative and prescient for what blockchain know-how can obtain for governments, companies and customers. So far, BCF has labored with purchasers throughout industries together with digital id, monetary companies and token pockets and growth infrastructure.
Q3 2020 Enterprise Highlights and Subsequent Occasions
- Entered right into a blockchain growth settlement with NIX Platform. The settlement has a period of roughly 6 months and a price of roughly $60,000. For extra info please see the Firm’s press launch dated September 1, 2020.
- Entered right into a blockchain growth settlement with a GDPR compliance answer supplier. The preliminary part of the settlement has a period of roughly 4 weeks and a price of roughly $50,000. For extra info please see the Firm’s press launch dated October 5, 2020.
- Entered into an settlement for a drawdown fairness financing facility of as much as $4 million over a 24-month interval with Alumina Companions (Ontario) Ltd., a subsidiary of Alumina Companions LLC, a New York-based non-public fairness agency. Subsequently, the Firm has drawn down three tranches beneath this settlement for complete gross proceeds of $450,000. For extra info please see the Firm’s press releases dated October 6, 2020; November 10, 2020; and November 30, 2020.
About Blockchain Foundry Inc.
Blockchain Foundry develops and commercializes blockchain-based enterprise options and supplies consulting companies to company purchasers in search of to include blockchain know-how into their companies.
Blockchain Foundry Contact Data:
Chris Marsh
President
cmarsh@blockchainfoundry.co
(647) 330-4572
Ahead-Trying Data
Sure parts of this press launch include “forward-looking info” inside the that means of relevant Canadian securities laws, which can be known as “forward-looking statements”, which will not be primarily based on historic truth. Wherever doable, phrases reminiscent of “will”, “plans,” “expects,” “targets,” “continues”, “estimates,” “scheduled,” “anticipates,” “believes,” “intends,” “might,” “might,” “would” or would possibly, and the unfavourable of such expressions or statements that sure actions, occasions or outcomes “might,” “might,” “would,” “would possibly” or “will” be taken, happen or be achieved, have been used to establish forward-looking info.
Ahead-looking statements shouldn’t be learn as ensures of future occasions, future efficiency or outcomes, and won’t essentially be correct indicators of the occasions at, or by which, such occasions, efficiency or outcomes can be achieved, if achieved in any respect. Readers shouldn’t place undue reliance on such forward-looking statements, as they replicate administration’s present views with respect to future occasions and are topic to dangers and uncertainties and are essentially primarily based upon numerous estimates and assumptions that, whereas thought of affordable by BCF are inherently topic to important enterprise, financial, regulatory, aggressive, political and social uncertainties, and contingencies. Many elements might trigger BCF’s precise outcomes, efficiency or achievements to be materially completely different from any future outcomes, efficiency, or achievements that could be expressed or implied by such forward-looking statements. Though BCF has tried to establish vital elements that might trigger precise actions, occasions or outcomes to vary materially from these described in forward-looking info, there could also be different elements that trigger actions, occasions or outcomes to not be as anticipated, estimated or meant. Accordingly, readers shouldn’t place undue reliance on forward-looking statements. There will be no assurance that such info will show to be correct as precise outcomes and future occasions might differ materially from these anticipated in such statements. Ahead-looking statements are made as of the date hereof and, accordingly, are topic to vary after such date. BCF disclaims any intention or obligation to replace or revise any forward-looking info, whether or not because of new info, future occasions or in any other case until required by regulation.
