Image Credit: Chema Muñoz Rosa (Flickr)

Details of Square’s Bitcoin-based DeFi Platform Announcements

Square Inc. (SQ) CEO Jack Dorsey has made it known that Square is building a new division to focus on adding a DeFi service (decentralized finance) that will use the Bitcoin network.  The Twitter announcement on Friday (July 16) revealed Square’s plans for a new division to build an “open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services. Our primary focus is Bitcoin.”

Square Inc. and DeFi

Square Inc. was created just after the 2008-2009 financial crisis by entrepreneurs Jack Dorsey and Jim McKelvey. The technology company provides state-of-the-art merchant services including payment methods. Their platform is used by millions of small businesses to accept credit card payments, track sales and inventory, and secure financing. Defi or decentralized finance is a system for financial products to be made available on a public decentralized blockchain network. This allows them to be open for anyone to use, rather than needing an intermediary such as a bank. Unlike a bank or brokerage account, government-issued ID, Social Security number, or proof of address are not necessary for access. Succinctly, DeFi refers to a system by which software written on blockchains makes it possible for buyers, sellers, lenders, and borrowers to interact peer to peer or with a strictly software-based middleman.

Details

Dorsey made the announcement via his other company, Twitter. As head the division, Dorsey chose Mike Brock, who previously led a development team to integrate Bitcoin features for the Square cash app a few years back. Brock has open source experience through his work with enterprise open-source solutions provider Red Hat Inc. The new product is expected to heighten competition for Ethereum and their DeFi service.

Competition for Ethereum and Others

According to data from Defi Llama, Ethereum dominates the top 100 DeFi platforms in terms of locked value (TVL), with Aave topping the list with $9.09 billion in TVL. Binance also provides competition with platforms such as the eighth-ranked PancakeSwap, which has $3.76 billion in TVL. As for Bitcoin-based DeFi projects ranked on DeFi Llama is the Lightning Network, ranked at 103 with a TVL of $58.7 million. DeFi, especially DeFi based on Ethereum, shot up in 2021. Dune Analytics shows the total DeFi user base (measured by unique addresses) has grown from 1.1 million on January 1^st to around 3 million in July.

Take-Away

The Bitcoin DeFi announcement follows up an earlier Tweet this month when Dorsey announced that Square Inc. will launch its own Bitcoin hardware wallet to provide assisted custody making the process easier for mainstream users. It remains to be seen whether this bolsters demand for Bitcoin-based DeFi and pulls from Ethereum’s momentum, or if this expanding market helps build usage, acceptance, and reliance on both Bitcoin and Ethereum based services while providing Square with a decentralized finance service for their customers.

Suggested Reading:

What are DAPPs (Decentralized Applications)?

Greener Alternatives to Bitcoin Mining

The Benefits of DeFi

Tweets, Tips, Taxes

Sources:

@Jack
Twitter 

https://defillama.com/chain/Ethereum 

https://duneanalytics.com/hagaetc/eth2-0-deposits

https://cointelegraph.com/news/jack-dorsey-confirms-square-is-building-an-assisted-custody-btc-hardware-wallet

https://cointelegraph.com/news/defi-on-bitcoin-jack-dorsey-launches-new-square-division-to-make-it-easy

https://decrypt.co/76086/jack-dorsey-crypto-platform

Stay up to date. Follow us:

	Image Credit: Chema Muñoz Rosa (Flickr)

Details of Square’s Bitcoin-based DeFi Platform Announcements

Square Inc. (SQ) CEO Jack Dorsey has made it known that Square is building a new division to focus on adding a DeFi service (decentralized finance) that will use the Bitcoin network.  The Twitter announcement on Friday (July 16) revealed Square’s plans for a new division to build an “open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services. Our primary focus is Bitcoin.”

Square Inc. and DeFi

Square Inc. was created just after the 2008-2009 financial crisis by entrepreneurs Jack Dorsey and Jim McKelvey. The technology company provides state-of-the-art merchant services including payment methods. Their platform is used by millions of small businesses to accept credit card payments, track sales and inventory, and secure financing. Defi or decentralized finance is a system for financial products to be made available on a public decentralized blockchain network. This allows them to be open for anyone to use, rather than needing an intermediary such as a bank. Unlike a bank or brokerage account, government-issued ID, Social Security number, or proof of address are not necessary for access. Succinctly, DeFi refers to a system by which software written on blockchains makes it possible for buyers, sellers, lenders, and borrowers to interact peer to peer or with a strictly software-based middleman.

Details

Dorsey made the announcement via his other company, Twitter. As head the division, Dorsey chose Mike Brock, who previously led a development team to integrate Bitcoin features for the Square cash app a few years back. Brock has open source experience through his work with enterprise open-source solutions provider Red Hat Inc. The new product is expected to heighten competition for Ethereum and their DeFi service.

Competition for Ethereum and Others

According to data from Defi Llama, Ethereum dominates the top 100 DeFi platforms in terms of locked value (TVL), with Aave topping the list with $9.09 billion in TVL. Binance also provides competition with platforms such as the eighth-ranked PancakeSwap, which has $3.76 billion in TVL. As for Bitcoin-based DeFi projects ranked on DeFi Llama is the Lightning Network, ranked at 103 with a TVL of $58.7 million. DeFi, especially DeFi based on Ethereum, shot up in 2021. Dune Analytics shows the total DeFi user base (measured by unique addresses) has grown from 1.1 million on January 1^st to around 3 million in July.

Take-Away

The Bitcoin DeFi announcement follows up an earlier Tweet this month when Dorsey announced that Square Inc. will launch its own Bitcoin hardware wallet to provide assisted custody making the process easier for mainstream users. It remains to be seen whether this bolsters demand for Bitcoin-based DeFi and pulls from Ethereum’s momentum, or if this expanding market helps build usage, acceptance, and reliance on both Bitcoin and Ethereum based services while providing Square with a decentralized finance service for their customers.

Suggested Reading:

What are DAPPs (Decentralized Applications)?

Greener Alternatives to Bitcoin Mining

The Benefits of DeFi

Tweets, Tips, Taxes

Sources:

@Jack
Twitter 

https://defillama.com/chain/Ethereum 

https://duneanalytics.com/hagaetc/eth2-0-deposits

https://cointelegraph.com/news/jack-dorsey-confirms-square-is-building-an-assisted-custody-btc-hardware-wallet

https://cointelegraph.com/news/defi-on-bitcoin-jack-dorsey-launches-new-square-division-to-make-it-easy

https://decrypt.co/76086/jack-dorsey-crypto-platform

Stay up to date. Follow us:

TAAL Announces 2021 First-Quarter Financial Results

Vancouver, British Columbia; May 27, 2021 – TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ1 | OTC:TAALF) (“TAAL” or the “Company”), a vertically integrated blockchain infrastructure and service provider for enterprise, announced today its financial results for the three months ended March 31, 2021. These filings are available for review on the Company’s SEDAR profile at www.sedar.com and on the Company’s website at www.taal.com. All financial information in this press release is reported in Canadian dollars unless otherwise indicated.

BSV Holdings

• As of May 25, 2021, TAAL had approximately 84,000 BitcoinSV in treasury.
  First Quarter Highlights
• Hashing operations recommenced in January 2021 resulting in gross revenues of $0.9 million for the quarter, representing approximately 89% of gross revenues.
• Income before operating expenses was $5.3 million for the quarter, which included a realized gain of $1.9 million on the Company’s sale of digital assets and unrealized gains of $2.9 million.
• Operating costs totaled $5.1 million for the quarter, resulting in net positive income from operations.
• On March 18, 2021, the Company closed a public equity offering for aggregate gross proceeds of approximately $40.0 million.
  Down payments for hashing equipment and hosting provider services of $6.3 million were made during the quarter.

Subsequent to the Quarter

The Company continues to make progress on its plans to deploy additional digital asset hashing equipment in Canada, and, as announced on May 21, 2021, recently purchased an additional 3,000 machines, which are expected to be fully operational by the first quarter of 2022.

TAAL has expanded its in-house research and development team, which will result in new TAAL products and services launches anticipated in Q3 2021. The Company will continue to bring additional team members on board to meet development and client needs.

“We have made significant progress this quarter towards our strategy to be the leading blockchain infrastructure and service provider for enterprise, and we are just getting started. BitcoinSV Blockchain transaction volume continues to accelerate, as of May 19, 2021 volumes now exceed BTC by up to 30% according to CoinDance. Our team is incredibly excited about these developments and our capacity to deliver transformative benefit for enterprise,” comments Stefan Matthews, TAAL Executive Chairman and Chief Executive Officer.

About TAAL Distributed Information Technologies Inc.

TAAL Distributed Information Technologies Inc. delivers value-added blockchain services, providing professional-grade, highly scalable blockchain infrastructure and transactional platforms to support businesses building solutions and applications upon the BitcoinSV platform, and developing, operating, and managing distributed computing systems for enterprise users.

Visit TAAL online at www.taal.com

The CSE, nor its Regulation Services Provider, accepts no responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Certain statements included in this news release constitute “forward-looking information” as defined under applicable Canadian securities legislation. The words “will”, “intends”, “expects” and similar expressions are intended to identify forward-looking information, although not all forward-looking information will contain these identifying words. Specific forward-looking information contained in this news release includes but is not limited to statements regarding: the expected deployment of additional computing power and capacity; and BSV transaction volumes. These statements are based on factors and assumptions related to historical trends, current conditions and expected future developments. Since forward-looking information relates to future events and conditions, by its very nature it requires making assumptions and involves inherent risks and uncertainties. TAAL cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from expectations. Material risk factors include the future acceptance of Bitcoin SV and other digital assets and risks related to information processing using those platforms, the ability for TAAL to leverage intellectual property into viable income streams and other risks set out in TAAL’s Annual Information Form dated April 30, 2021 under the heading “Risk Factors” and elsewhere in TAAL’s continuous disclosure filings available on SEDAR at www.sedar.com. Given these risks, undue reliance should not be placed on the forward-looking information contained herein. Other than as required by law, TAAL undertakes no obligation to update any forward-looking information to reflect new information, subsequent or otherwise.

For further information contact:
Matt Whitcomb, Investor Relations, matthew@taal.com 604-260-6142
Stefan Matthews, CEO & Executive Chairman, info@taal.com
Chris Naprawa, President, chris@taal.com

TAAL Announces 2021 First-Quarter Financial Results

Vancouver, British Columbia; May 27, 2021 – TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ1 | OTC:TAALF) (“TAAL” or the “Company”), a vertically integrated blockchain infrastructure and service provider for enterprise, announced today its financial results for the three months ended March 31, 2021. These filings are available for review on the Company’s SEDAR profile at www.sedar.com and on the Company’s website at www.taal.com. All financial information in this press release is reported in Canadian dollars unless otherwise indicated.

BSV Holdings

• As of May 25, 2021, TAAL had approximately 84,000 BitcoinSV in treasury.
  First Quarter Highlights
• Hashing operations recommenced in January 2021 resulting in gross revenues of $0.9 million for the quarter, representing approximately 89% of gross revenues.
• Income before operating expenses was $5.3 million for the quarter, which included a realized gain of $1.9 million on the Company’s sale of digital assets and unrealized gains of $2.9 million.
• Operating costs totaled $5.1 million for the quarter, resulting in net positive income from operations.
• On March 18, 2021, the Company closed a public equity offering for aggregate gross proceeds of approximately $40.0 million.
  Down payments for hashing equipment and hosting provider services of $6.3 million were made during the quarter.

Subsequent to the Quarter

The Company continues to make progress on its plans to deploy additional digital asset hashing equipment in Canada, and, as announced on May 21, 2021, recently purchased an additional 3,000 machines, which are expected to be fully operational by the first quarter of 2022.

TAAL has expanded its in-house research and development team, which will result in new TAAL products and services launches anticipated in Q3 2021. The Company will continue to bring additional team members on board to meet development and client needs.

“We have made significant progress this quarter towards our strategy to be the leading blockchain infrastructure and service provider for enterprise, and we are just getting started. BitcoinSV Blockchain transaction volume continues to accelerate, as of May 19, 2021 volumes now exceed BTC by up to 30% according to CoinDance. Our team is incredibly excited about these developments and our capacity to deliver transformative benefit for enterprise,” comments Stefan Matthews, TAAL Executive Chairman and Chief Executive Officer.

About TAAL Distributed Information Technologies Inc.

TAAL Distributed Information Technologies Inc. delivers value-added blockchain services, providing professional-grade, highly scalable blockchain infrastructure and transactional platforms to support businesses building solutions and applications upon the BitcoinSV platform, and developing, operating, and managing distributed computing systems for enterprise users.

Visit TAAL online at www.taal.com

The CSE, nor its Regulation Services Provider, accepts no responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Certain statements included in this news release constitute “forward-looking information” as defined under applicable Canadian securities legislation. The words “will”, “intends”, “expects” and similar expressions are intended to identify forward-looking information, although not all forward-looking information will contain these identifying words. Specific forward-looking information contained in this news release includes but is not limited to statements regarding: the expected deployment of additional computing power and capacity; and BSV transaction volumes. These statements are based on factors and assumptions related to historical trends, current conditions and expected future developments. Since forward-looking information relates to future events and conditions, by its very nature it requires making assumptions and involves inherent risks and uncertainties. TAAL cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from expectations. Material risk factors include the future acceptance of Bitcoin SV and other digital assets and risks related to information processing using those platforms, the ability for TAAL to leverage intellectual property into viable income streams and other risks set out in TAAL’s Annual Information Form dated April 30, 2021 under the heading “Risk Factors” and elsewhere in TAAL’s continuous disclosure filings available on SEDAR at www.sedar.com. Given these risks, undue reliance should not be placed on the forward-looking information contained herein. Other than as required by law, TAAL undertakes no obligation to update any forward-looking information to reflect new information, subsequent or otherwise.

For further information contact:
Matt Whitcomb, Investor Relations, matthew@taal.com 604-260-6142
Stefan Matthews, CEO & Executive Chairman, info@taal.com
Chris Naprawa, President, chris@taal.com

Friday, May 14, 2021

QuoteMedia (QMCI)
Will Margins Improve As Revenues Ramp?

QuoteMedia, based in Fountain Hills, Arizona, provides cloud-based financial data, market news feeds, and financial software solutions.  Its customers include financial service companies, online brokerages, clearing firms, banks, media portals, public corporations and individual investors.  The company provides a single source solution providing products such as streaming quotes, charting, historical data, technical analysis, news and research.  Information can customized and provided to multiple platforms including terminals and mobile devices.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Q1 in-line with expectations. Q1 revenue growth accelerated to 22%, in line with our expectations. Q1 revenues of $3.606 million was in line with our $3.580 million estimate. Cost of Revenues, however, increased significantly faster than revenue growth at 37.6%. As such, gross margins were lower than expected, 42.8% versus our 45.5% estimate. This led to Adjusted EBITDA of $244,000, lower than our $311,000 estimate.


Gross margins should improve.  Vendor price increases are typical at the beginning of the year. As such, gross margins should improve in subsequent quarters as revenues grow. We anticipate gross margins to improve to roughly 45% in subsequent quarters. In addition, we anticipate that gross margins should benefit from a slight acceleration in revenue growth in the company’s Interactive Content & Data …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Kelly Reports First-Quarter 2021 Earnings

Financial Highlights

• Q1
  revenue down 4.4%, down 5.5% in constant currency, as pandemic disruption
  moderates
• Q1
  operating earnings of $10.6 million, compared to a reported loss for the
  corresponding period last year
• Q1
  earnings per share of $0.64, or $0.12 on an adjusted basis, compared to
  adjusted earnings per share of $0.20 for the corresponding period last year

TROY, Mich., May 13, 2021 (GLOBE NEWSWIRE) — Kelly (Nasdaq: KELYA) (Nasdaq: KELYB), a leading specialty talent solutions provider, today announced results for the first quarter of 2021.

Peter Quigley, president and chief executive officer, announced revenue for the first quarter of 2021 totaled $1.2 billion, a 4.4% decrease, or down 5.5% in constant currency, compared to the corresponding quarter of 2020. Revenue declined year-over-year in the quarter as the effects of the COVID-19 crisis moderated but continued to have an impact on customer demand and the supply of available talent.

Earnings from operations in the first quarter of 2021 totaled $10.6 million, compared to a loss of $111.8 million reported in the first quarter of 2020. The 2020 first-quarter results include a $147.7 million goodwill impairment charge and an $8.7 million restructuring charge, partially offset by a $32.1 million gain on sale of assets. On an adjusted basis, 2020 earnings from operations were $12.5 million.

Diluted earnings per share in the first quarter of 2021 were $0.64 compared to a loss of $3.91 per share in the first quarter of 2020. Included in the earnings per share in the first quarter of 2021 is a non-cash gain, net of tax, on Kelly’s investment in Persol Holdings common stock of $0.52. Included in the loss per share in the first quarter of 2020 is a $3.18 per share goodwill impairment charge, net of tax, a $1.38 per share loss from a non-cash loss on Kelly’s investment in Persol Holdings common stock, net of tax, and a $0.17 restructuring charge, net of tax, partially offset by a $0.61 gain on sale of assets, net of tax. On an adjusted basis, earnings per share were $0.12 in the first quarter of 2021 compared to $0.20 in the corresponding quarter of 2020.

“We’re seeing strong demand across all of our operating segments. This translated into sustained, sequential revenue improvements in our Education, OCG, International, and Science, Engineering & Technology business segments. We’re also seeing improving revenue growth rates in our Professional & Industrial segment and are taking steps to capture even more of the stronger demand, which now exceeds pre-pandemic levels,” said Quigley. “Every segment added numerous wins to their portfolio in the first quarter, and we’re pleased with the overall progress and healthy sales pipelines across our specialties. We’re moving forward in this recovery with optimism, well-positioned to capture organic specialty growth and committed to a bold M&A strategy that captures inorganic growth, as evidenced by our recent Softworld acquisition, which is the largest deal in Kelly’s history.”

In conjunction with its first quarter earnings release, Kelly has published a financial presentation on the Investor Relations page of its public website and will host a conference call at 9 a.m. ET on May 13 to review the results and answer questions. The call may be accessed in one of the following ways:

Via the Internet:
Kellyservices.com

Via the Telephone
(877) 692-8955 (toll free) or (234) 720-6979 (caller paid)
Enter access code 5728672
After the prompt, please enter “#”
A recording of the conference call will be available after 2:30 p.m. ET on May 13, 2021 at (866) 207-1041 (toll-free) and (402) 970-0847 (caller-paid). The access code is 2456495#. The recording will also be available at kellyservices.com during this period.

This release contains statements that are forward looking in nature and, accordingly, are subject to risks and uncertainties. These factors include, but are not limited to, changing market and economic conditions, the recent novel coronavirus (COVID-19) outbreak, competitive market pressures including pricing and technology introductions and disruptions, disruption in the labor market and weakened demand for human capital resulting from technological advances, competition law risks, the impact of changes in laws and regulations (including federal, state and international tax laws), unexpected changes in claim trends on workers’ compensation, unemployment, disability and medical benefit plans, or the risk of additional tax liabilities in excess of our estimates, our ability to achieve our business strategy, our ability to successfully develop new service offerings, material changes in demand from or loss of large corporate customers as well as changes in their buying practices, risks particular to doing business with government or government contractors, the risk of damage to our brand, our exposure to risks associated with services outside traditional staffing, including business process outsourcing, services of licensed professionals and services connecting talent to independent work, our increasing dependency on third parties for the execution of critical functions, our ability to effectively implement and manage our information technology strategy, the risks associated with past and future acquisitions, including risk of related impairment of goodwill and intangible assets, exposure to risks associated with investments in equity affiliates including PersolKelly Pte. Ltd., risks associated with conducting business in foreign countries, including foreign currency fluctuations, the exposure to potential market and currency exchange risks relating to our investment in Persol Holdings, risks associated with violations of anti-corruption, trade protection and other laws and regulations, availability of qualified full-time employees, availability of temporary workers with appropriate skills required by customers, liabilities for employment-related claims and losses, including class action lawsuits and collective actions, our ability to sustain critical business applications through our key data centers, risks arising from failure to preserve the privacy of information entrusted to us or to meet our obligations under global privacy laws, the risk of cyberattacks or other breaches of network or information technology security, our ability to realize value from our tax credit and net operating loss carryforwards, our ability to maintain specified financial covenants in our bank facilities to continue to access credit markets, and other risks, uncertainties and factors discussed in this release and in the Company’s filings with the Securities and Exchange Commission. Actual results may differ materially from any forward-looking statements contained herein, and we undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company’s expectations.

About Kelly^®

Kelly Services, Inc. (Nasdaq: KELYA, KELYB) connects talented people to companies in need of their skills in areas including Science, Engineering, Education, Office, Contact Center, Light Industrial, and more. We’re always thinking about what’s next in the evolving world of work, and we help people ditch the script on old ways of thinking and embrace the value of all workstyles in the workplace. We directly employ nearly 370,000 people around the world, and we connect thousands more with work through our global network of talent suppliers and partners in our 
outsourcing and consulting practice. Revenue in 2020 was $4.5 billion. Visit kellyservices.com and let us help with what’s next for you.

Voyager Digital Provides Business Update and March 2021 Metrics

– Announces AUM Over US$2.4 Billion at March-End –
– Announces Over 1 Million Verified Users –
– Key Metrics Grew in Excess of 35% from February to March –

NEW YORK, April 6, 2021 /CNW/ – Voyager Digital Ltd. (“Voyager” or the “Company”) (CSE: VYGR) (OTCQB: VYGVF) (FRA: UCD2), a publicly-traded holding company, whose subsidiaries operate a licensed crypto-asset platform that provides investors with a turnkey solution to invest in and trade crypto assets, is pleased to provide stakeholders with a business update for the month ended March 31, 2021.

The Company has the following key metrics as of March 31, 2021:

• Assets Under Management (AUM) exceeded US$2.4 billion
• Total Funded Accounts at the end of March 2021 were over 270,000
• Total Verified Users on the platform were over 1 million

Key monthly operating metrics for January through March 2021 are as follows:

All figures are preliminary and unaudited and subject to final adjustment. All amounts are in U.S. dollars, unless otherwise indicated.

“March was another record-setting month for Voyager as our retail-focused, zero-commission platform continued to attract an active community for both Bitcoin and our industry leading offering of over 50 altcoins,” said Stephen Ehrlich, Co-Founder and CEO of Voyager. “All of our significant revenue-driving metrics increased in excess of 35% during the month of March from the previous month. As demand continues to accelerate for the Voyager Platform, we are enhancing our infrastructure to meet this swiftly growing demand and accommodate anticipated future growth as we expand our suite of offerings in the coming years.”

Mr. Ehrlich concluded, “Our management team is focused on the long-term opportunity to capture significant market-share within this rapidly expanding industry. The initiatives we are embarking on, such as adding new products to our platform and further geographic expansion, are designed to competitively position Voyager for long-term success. We will continue to execute on these initiatives and look forward to providing our investors another update on our next quarterly conference call.”

The Company also announced that going forward, it expects to provide updates for key operating metrics on a quarterly basis. Voyager believes this is consistent with industry best practices and will more closely align with the Company’s long-term focus. The Company expects to provide its next financial and operational update to investors on its next quarterly conference call, expected to occur in late May.

Voyager continues to actively engage with investors and expects to participate in the following upcoming events in April 2021:

Voyager remains committed to advancing its trusted, secure, and compliant platform to serve the needs of its loyal community by offering a broad selection of digital assets, with industry leading interest rates, on a simple to use app for trading and investing in cryptocurrencies. For more information and to view the latest company presentation about Voyager Digital, please visit https://www.investvoyager.com.

About Voyager Digital Ltd.

Voyager Digital Ltd. is a publicly traded holding company whose subsidiaries operate a crypto-asset platform that provides retail and institutional investors with a turnkey solution to trade crypto assets. The Voyager Platform provides its customers with competitive price execution through its smart order router and as well as a custody solution on a wide choice of popular crypto-assets. Voyager was founded by established Wall Street and Silicon Valley entrepreneurs who teamed to bring a better, more transparent, and cost-efficient alternative for trading crypto-assets to the marketplace. Please visit us at https://www.investvoyager.com for more information.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has either approved or disapproved of the contents of this press release.

Other

The links to the investor events above are provided for convenience only. Voyager makes no representation or warranty as to the content of such links or as to the suitability of such investor events for any particular investor. Voyager disclaims all responsibility and liability in respect of such investor events and the links provided herein (and the content contained therein) do not form part of this press release and do not form part of Voyager’s public disclosure record.

Forward Looking Statements

Certain information in this press release, including, but not limited to, statements regarding future growth and performance of the business, momentum in the businesses, future adoption of digital assets, and the Company’s anticipated results may constitute forward looking information (collectively, forward-looking statements), which can be identified by the use of terms such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” (or the negatives) or other similar variations. Because of various risks and uncertainties, including those referenced below, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. Forward looking statements are subject to the risk that the global economy, industry, or the Company’s businesses and investments do not perform as anticipated, that revenue or expenses estimates may not be met or may be materially less or more than those anticipated, that trading momentum does not continue or the demand for trading solutions declines, customer acquisition does not increase as planned, product and international expansion do not occur as planned and those other risks contained in the Company’s public filings, including in its Management Discussion and Analysis and its Annual Information Form (AIF). Factors that could cause actual results of the Company and its businesses to differ materially from those described in such forward-looking statements include, but are not limited to, a decline in the digital asset market or general economic conditions; the failure or delay in the adoption of digital assets and the blockchain ecosystem by institutions; a delay or failure in developing infrastructure for the trading businesses or achieving mandates and gaining traction; failure to grow assets under management, an adverse development with respect to an issuer or party to the transaction or failure to obtain a required regulatory approval. In connection with the forward-looking statements contained in this press release, the Company has made assumptions that no significant events occur outside of the Company’s normal course of business and that current trends in respect of digital assets continue. Forward-looking statements, past and present performance and trends are not guarantees of future performance, accordingly, you should not put undue reliance on forward-looking statements, past performance or current trends. Information identifying assumptions, risks and uncertainties relating to the Company are contained in its filings with the Canadian securities regulators available at www.sedar.com. The forward-looking statements in this press release are applicable only as of the date of this release or as of the date specified in the relevant forward-looking statement and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after that date or to reflect the occurrence of unanticipated events. Readers are cautioned that past performance is not indicative of future performance and current trends in the business and demand for digital assets may not continue and readers should not put undue reliance on past performance and current trends. All figures are in U.S. dollars unless otherwise noted.

Investor Relations:
Michael Legg
(212) 547-8807
mlegg@investvoyager.com

Phil Carlson / Scott Eckstein
(212) 896-1233 / (212) 896-1210
pcarlson@kcsa.com / seckstein@kcsa.com

Media:
Anthony Feldman / Raquel Cona
(347) 487-6194 / (212) 896-1204
afeldman@kcsa.com / rcona@kcsa.com

Angus Campbell
44 7881 625098
angus@nominis.co

Source: Voyager Digital Ltd.

Voyager Digital Provides Business Update and March 2021 Metrics

– Announces AUM Over US$2.4 Billion at March-End –
– Announces Over 1 Million Verified Users –
– Key Metrics Grew in Excess of 35% from February to March –

NEW YORK, April 6, 2021 /CNW/ – Voyager Digital Ltd. (“Voyager” or the “Company”) (CSE: VYGR) (OTCQB: VYGVF) (FRA: UCD2), a publicly-traded holding company, whose subsidiaries operate a licensed crypto-asset platform that provides investors with a turnkey solution to invest in and trade crypto assets, is pleased to provide stakeholders with a business update for the month ended March 31, 2021.

The Company has the following key metrics as of March 31, 2021:

• Assets Under Management (AUM) exceeded US$2.4 billion
• Total Funded Accounts at the end of March 2021 were over 270,000
• Total Verified Users on the platform were over 1 million

Key monthly operating metrics for January through March 2021 are as follows:

All figures are preliminary and unaudited and subject to final adjustment. All amounts are in U.S. dollars, unless otherwise indicated.

“March was another record-setting month for Voyager as our retail-focused, zero-commission platform continued to attract an active community for both Bitcoin and our industry leading offering of over 50 altcoins,” said Stephen Ehrlich, Co-Founder and CEO of Voyager. “All of our significant revenue-driving metrics increased in excess of 35% during the month of March from the previous month. As demand continues to accelerate for the Voyager Platform, we are enhancing our infrastructure to meet this swiftly growing demand and accommodate anticipated future growth as we expand our suite of offerings in the coming years.”

Mr. Ehrlich concluded, “Our management team is focused on the long-term opportunity to capture significant market-share within this rapidly expanding industry. The initiatives we are embarking on, such as adding new products to our platform and further geographic expansion, are designed to competitively position Voyager for long-term success. We will continue to execute on these initiatives and look forward to providing our investors another update on our next quarterly conference call.”

The Company also announced that going forward, it expects to provide updates for key operating metrics on a quarterly basis. Voyager believes this is consistent with industry best practices and will more closely align with the Company’s long-term focus. The Company expects to provide its next financial and operational update to investors on its next quarterly conference call, expected to occur in late May.

Voyager continues to actively engage with investors and expects to participate in the following upcoming events in April 2021:

Voyager remains committed to advancing its trusted, secure, and compliant platform to serve the needs of its loyal community by offering a broad selection of digital assets, with industry leading interest rates, on a simple to use app for trading and investing in cryptocurrencies. For more information and to view the latest company presentation about Voyager Digital, please visit https://www.investvoyager.com.

About Voyager Digital Ltd.

Voyager Digital Ltd. is a publicly traded holding company whose subsidiaries operate a crypto-asset platform that provides retail and institutional investors with a turnkey solution to trade crypto assets. The Voyager Platform provides its customers with competitive price execution through its smart order router and as well as a custody solution on a wide choice of popular crypto-assets. Voyager was founded by established Wall Street and Silicon Valley entrepreneurs who teamed to bring a better, more transparent, and cost-efficient alternative for trading crypto-assets to the marketplace. Please visit us at https://www.investvoyager.com for more information.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has either approved or disapproved of the contents of this press release.

Other

The links to the investor events above are provided for convenience only. Voyager makes no representation or warranty as to the content of such links or as to the suitability of such investor events for any particular investor. Voyager disclaims all responsibility and liability in respect of such investor events and the links provided herein (and the content contained therein) do not form part of this press release and do not form part of Voyager’s public disclosure record.

Forward Looking Statements

Certain information in this press release, including, but not limited to, statements regarding future growth and performance of the business, momentum in the businesses, future adoption of digital assets, and the Company’s anticipated results may constitute forward looking information (collectively, forward-looking statements), which can be identified by the use of terms such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” (or the negatives) or other similar variations. Because of various risks and uncertainties, including those referenced below, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. Forward looking statements are subject to the risk that the global economy, industry, or the Company’s businesses and investments do not perform as anticipated, that revenue or expenses estimates may not be met or may be materially less or more than those anticipated, that trading momentum does not continue or the demand for trading solutions declines, customer acquisition does not increase as planned, product and international expansion do not occur as planned and those other risks contained in the Company’s public filings, including in its Management Discussion and Analysis and its Annual Information Form (AIF). Factors that could cause actual results of the Company and its businesses to differ materially from those described in such forward-looking statements include, but are not limited to, a decline in the digital asset market or general economic conditions; the failure or delay in the adoption of digital assets and the blockchain ecosystem by institutions; a delay or failure in developing infrastructure for the trading businesses or achieving mandates and gaining traction; failure to grow assets under management, an adverse development with respect to an issuer or party to the transaction or failure to obtain a required regulatory approval. In connection with the forward-looking statements contained in this press release, the Company has made assumptions that no significant events occur outside of the Company’s normal course of business and that current trends in respect of digital assets continue. Forward-looking statements, past and present performance and trends are not guarantees of future performance, accordingly, you should not put undue reliance on forward-looking statements, past performance or current trends. Information identifying assumptions, risks and uncertainties relating to the Company are contained in its filings with the Canadian securities regulators available at www.sedar.com. The forward-looking statements in this press release are applicable only as of the date of this release or as of the date specified in the relevant forward-looking statement and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after that date or to reflect the occurrence of unanticipated events. Readers are cautioned that past performance is not indicative of future performance and current trends in the business and demand for digital assets may not continue and readers should not put undue reliance on past performance and current trends. All figures are in U.S. dollars unless otherwise noted.

Investor Relations:
Michael Legg
(212) 547-8807
mlegg@investvoyager.com

Phil Carlson / Scott Eckstein
(212) 896-1233 / (212) 896-1210
pcarlson@kcsa.com / seckstein@kcsa.com

Media:
Anthony Feldman / Raquel Cona
(347) 487-6194 / (212) 896-1204
afeldman@kcsa.com / rcona@kcsa.com

Angus Campbell
44 7881 625098
angus@nominis.co

Source: Voyager Digital Ltd.

Monday, March 29, 2021

QuoteMedia (QMCI)
Margins Take A Hit As Revenues Ramp

QuoteMedia, based in Fountain Hills, Arizona, provides cloud-based financial data, market news feeds, and financial software solutions.  Its customers include financial service companies, online brokerages, clearing firms, banks, media portals, public corporations and individual investors.  The company provides a single source solution providing products such as streaming quotes, charting, historical data, technical analysis, news and research.  Information can customized and provided to multiple platforms including terminals and mobile devices.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

In-line fourth quarter. Total company revenues were $3.266 million versus our $3.275 million estimate and operating cash flow, as measured by adj. EBITDA, was $58,000 versus our loss estimate of $21,000. Notably, the company’s Corporate Quotestream business had a very strong quarter, with revenues up 39%, which was somewhat offset by a 9% revenue decline in its Interactive Content segment revenues.


Gross margins declined.  The year over year Q4 decline in gross margins from 52.0% to 41.6% reflects the revenue growth in its lower margin Corporate Quotestream business and the revenue weakness in its higher margin Interactive Content business. Management guided to an acceleration in revenue growth to 20% in subsequent quarters and for full year 2021, but gross margins are expected to be …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

QuoteMedia Announces 5% Revenue Growth for 2020

PHOENIX, March 26, 2021 (GLOBE NEWSWIRE) — QuoteMedia, Inc. (OTCQB: QMCI), a leading provider of market data and financial applications, announced financial results for the fiscal year ended December 31, 2020.

QuoteMedia provides banks, brokerage firms, private equity firms, financial planners and sophisticated investors with a more economical, higher quality alternative source of stock market data and related research information. We compete with several larger legacy organizations and a modest community of other smaller companies.  QuoteMedia provides streaming data feeds, on-demand request-based data (XML/JSON), web content solutions (financial content for website integration) and applications such as Quotestream Professional desktop and mobile.

Revenue for the year ended December 31, 2020 was $12,402,224 versus $11,793,731 in the comparative 2019 period, resulting in a 5% increase. Consistent with our forecasts, revenue for the fourth quarter of 2020 was $3,266,083 versus $2,975,094 in the comparative 2019 quarter, resulting in a 10% increase.

“This has been a very successful year for QuoteMedia,” said Robert J. Thompson, Chairman of the Board of QuoteMedia, Inc. “Despite the disruption caused by the COVID-19 pandemic we experienced healthy improvements in revenue, significantly increased staffing, and made major advances in product and business development.

“Looking ahead, based on customers currently under contract, we are expecting a significant improvement in revenue growth and a return to profitability in 2021. For the first quarter of 2021, we are forecasting revenue growth of approximately 20% and expect to maintain this trajectory for the remainder of the year. We also expect our cash balances to rebound in 2021 as our revenue catches up with the increased expenditures associated with the new products and data expansion initiatives undertaken in 2020.

“The economic downturn related to COVID-19 did not leave us unaffected, as it forced some of our clients to halt projects and even caused some to cease business activities entirely. As a result, we saw a 365% increase in bad debts compared to 2019. Still, we are continuing to take advantage of new opportunities arising from the economic downturn, as the added pressure on financial sector firms to find more efficient and cost-effective solutions to their data and technology needs is leading them to explore QuoteMedia’s offerings. Additionally, we are seeing an increase in the need for our services for customers working remotely during the pandemic, and we expect this to be a lasting trend.

“As a result of increased expenses related to our recent expansion activities and the impact of Covid-19, we experienced a net loss of $646,324 for the year ended December 31, 2020 compared to net income of $558,997 in the comparative 2019 period. Our adjusted EBITDA ¹ was $734,068 for the year ended December 31, 2020 versus $2,124,498 in the comparative 2019 period. The company undertook major growth initiatives in 2020 and we expect to continue and expand these programs in 2021. We have invested in technological and infrastructure advancement, new product development, data collection and aggregation initiatives, the extension of our global market coverage, and new marketing campaigns. These strategic investments are producing very positive results. This year will mark the launch of major new product lines, data sets, proprietary analytics, and key partnerships, and we are very excited about our future.”

QuoteMedia will host a conference call Friday, March 26, 2021 at 2 PM Eastern Time to discuss the 2020 financial results and provide a business update.

Conference Call Details:

March 26, 2021, 2:00 PM Eastern

Dial-in numbers: 877-876-9173, 785-424-1667

Conference ID: QUOTEMEDIA

An audio rebroadcast of the call will be available later at: www.quotemedia.com

About QuoteMedia

QuoteMedia is a leading software developer and cloud-based syndicator of financial market information and streaming financial data solutions to media, corporations, online brokerages, and financial services companies. The Company licenses interactive stock research tools such as streaming real-time quotes, market research, news, charting, option chains, filings, corporate financials, insider reports, market indices, portfolio management systems, and data feeds. QuoteMedia provides data and services for companies such as the Nasdaq Stock Exchange, TMX Group (TSX Stock Exchange), Canadian Securities Exchange (CSE), London Stock Exchange Group, FIS, U.S. Bank, Broadridge Financial Systems, JPMorgan Chase, CI Financial, Canaccord Genuity Corp., Hilltop Securities, HD Vest, Stockhouse, Zacks Investment Research, General Electric, Boeing, Bombardier, Business Wire, PR Newswire, FolioFN, Regal Securities, ChoiceTrade, Cetera Financial Group, Dynamic Trend, Inc., Qtrade Financial, CNW Group, Industrial Alliance, Ally Invest, Inc., Suncor, Virtual Brokers, Equities.com, Leede Jones Gable, Firstrade Securities, Charles Schwab, First Financial, Cirano, Equisolve, Stock-Trak, Mergent, Cision, Warrior Trading and others. Quotestream®, QMod ^TM and Quotestream Connect ^TM are trademarks of QuoteMedia. For more information, please visit www.quotemedia.com.

Statements about QuoteMedia’s future expectations, including future revenue, earnings, and transactions, as well as all other statements in this press release other than historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. QuoteMedia intends that such forward-looking statements be subject to the safe harbors created thereby. These statements involve risks and uncertainties that are identified from time to time in the Company’s SEC reports and filings and are subject to change at any time. QuoteMedia’s actual results and other corporate developments could differ materially from that which has been anticipated in such statements.

Below are the specific forward-looking statements included in this press release:

• Looking ahead, based on customers currently under contract, we are expecting a significant improvement in revenue growth and a return to profitability in 2021.
• For the first quarter of 2021, we are forecasting revenue growth of approximately 20% and expect to maintain this trajectory for the remainder of the year.
• We also expect our cash balances to rebound in 2021 as our revenue catches up with the increased expenditures associated with the new products and data expansion initiatives undertaken in 2020.

QuoteMedia Investor Relations
Brendan Hopkins
Email: investors@quotemedia.com
Call: (407) 645-5295

Note 1 on Non-GAAP Financial Measures

We believe that Adjusted EBITDA, as a non-GAAP pro forma financial measure, provides meaningful information to investors in terms of enhancing their understanding of our operating performance and results, as it allows investors to more easily compare our financial performance on a consistent basis compared to the prior year periods. This non-GAAP financial measure also corresponds with the way we expect investment analysts to evaluate and compare our results. Any non-GAAP pro forma financial measures should be considered only as supplements to, and not as substitutes for or in isolation from, or superior to, our other measures of financial information prepared in accordance with GAAP, such as net income attributable to QuoteMedia, Inc.

We define and calculate Adjusted EBITDA as net income attributable to QuoteMedia, Inc., plus: 1) depreciation and amortization, 2) stock compensation expense, 3) interest expense, 4) foreign exchange loss (or minus a foreign exchange gain), and 5) income tax expense. We disclose Adjusted EBITDA because we believe it is a useful metric by which to compare the performance of our business from period to period. We understand that measures similar to Adjusted EBITDA are broadly used by analysts, rating agencies, investors and financial institutions in assessing our performance. Accordingly, we believe that the presentation of Adjusted EBITDA provides useful information to investors. The table below provides a reconciliation of Adjusted EBITDA to net income attributable to QuoteMedia, Inc., the most directly comparable GAAP financial measure.

QuoteMedia, Inc. Adjusted EBITDA Reconciliation to Net Income

SOURCE: QuoteMedia

QuoteMedia Welcomes Bookmap as Newest Quotestream Connect Partner

PHOENIX, March 17, 2021 (GLOBE NEWSWIRE) — QuoteMedia, Inc. (OTCQB: QMCI), a leading provider of market data and financial applications, is pleased to introduce Bookmap, as its newest Quotestream Connect Partner. QuoteMedia has integrated its Quotestream Connect data APIs for use within Bookmap’s impressive data visualization software.

Quotestream Connect includes QuoteMedia’s low-latency, highly accurate Streaming Datafeed API, state of the art On-Demand APIs, and an extensive User Management System, for integration into third party applications developed by Independent Software Vendors (ISVs) like Bookmap.

“We are always happy to add ISVs like Bookmap as Quotestream Connect Partners,” says Dave Shworan, CEO of QuoteMedia Ltd. “Bookmap is an innovative company, and it’s rewarding to see our data being utilized by users of this remarkable software application.”

QuoteMedia has integrated its Canadian and London order book APIs within Bookmaps’ exceptional Level 2 focused software platform, providing users the unique ability to visualize liquidity and trends in these markets.

“QuoteMedia is a real frontrunner in the financial market data industry, and we’re excited to partner with them to open Bookmap to the Canadian and London Stock Exchange markets,” says Tsachi Galanos, Bookmap CEO. “With QuoteMedia’s data solutions, traders using Bookmap to trade these markets will be able to visualize the real support and resistance levels and will take better trading decisions, gaining an edge over other traders.”

About QuoteMedia

QuoteMedia is a leading software developer and cloud-based syndicator of financial market information and streaming financial data solutions to media, corporations, online brokerages, and financial services companies. The Company licenses interactive stock research tools such as streaming real-time quotes, market research, news, charting, option chains, filings, corporate financials, insider reports, market indices, portfolio management systems, and data feeds. QuoteMedia provides data and services for companies such as the Nasdaq Stock Exchange, TMX Group (TSX Stock Exchange), Canadian Securities Exchange (CSE), London Stock Exchange Group, FIS, U.S. Bank, Broadridge Financial Systems, Ridge Clearing, JPMorgan Chase, CI Financial, Canaccord Genuity Corp., Hilltop Securities, HD Vest, Stockhouse, Zacks Investment Research, General Electric, Boeing, Bombardier, Business Wire, PR Newswire, FolioFN, Regal Securities, ChoiceTrade, Cetera Financial Group, Dynamic Trend, Inc., Qtrade Financial, CNW Group, Industrial Alliance, Ally Invest, Inc., Suncor, Virtual Brokers, Equities.com, Leede Jones Gable, Firstrade Securities, Charles Schwab, First Financial, Cirano, Equisolve, Stock-Trak, Mergent, Cision, Warrior Trading and others. Quotestream®, QMod™ and Quotestream Connect™ are trademarks of QuoteMedia. For more information, please visit www.quotemedia.com .

QuoteMedia Investor Relations
Brendan Hopkins
Email: investors@quotemedia.com
Call: (407) 645-5295

About Bookmap

Bookmap Ltd. is a financial services firm and the creator of Bookmap ( www.bookmap.com ). The Bookmap team brings experience in High Frequency Trading, which was instrumental in creating the Bookmap trading platform that visualizes both real-time order book data combined with historical depth-of-market (DOM) data. Bookmap accurately shows the entire market liquidity and trading activities, enabling traders to identify market trends and hidden price patterns with high precision.

Bookmap connects to more than 30 exchanges and platforms, covering futures, stocks and cryptocurrencies. It is used by scalpers, day traders, swing traders and algo traders all over the world. In addition to the platform, Bookmap established a marketplace that offers unique add-ons, such as a stop & iceberg order detector, third-party market data, and educational services. For more information, please visit www.bookmap.com or send an email to info@bookmap.com .

SOURCE: QuoteMedia