TAAL Announces 2021 Second-Quarter Revenue of $6.7 Million, and Adjusted EBITDA of $629,000

 

TORONTO, Aug. 23, 2021 /CNW/ – 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 and six months ended June 30, 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.

Second Quarter Highlights

• As of June 30, 2021, TAAL held approximately 100,900 BitcoinSV (“BSV”) in treasury
• Gross revenues of $6.7 million for the second quarter ended June 30, 2021, represented an increase of almost 7 times compared to Q1 2021
• Adjusted EBITDA* for the quarter was $629,000. Net loss for the period was $10.1 million, largely due to the loss on the revaluation of digital assets.
• TAAL purchased 3,000 Bitmain S19j Pro Blockchain computers due for delivery in Q1, 2022
• WhatsOnChain continues to deliver on its promise to be the world’s BSV block explorer and data provider, attracting 33.5 million web and API requests in June, and 40 million API requests in July.

Subsequent to the Quarter

The Company has upgraded its previously announced purchase of 1,000 Bitmain S19J hashing machines to 900 S19J  Pro model.  The machines will provide the same amount of hashing power while requiring less electricity and space to host.  The additional investment is approximately $1 million.

The BitcoinSV blockchain has seen an increase in large blocks routinely being processed.  These larger blocks are resulting in higher transaction fees in addition to the block subsidy reward of 6.25 BSV per block.  In July TAAL earned 371 BSV from transaction processing fees and 737 so far in August.  This is compared to 105 and 138 BSV in fees for May and June respectively.

August has been a month of new records for TAAL and the BSV blockchain.  First TAAL successfully mined 3, 1 GB blocks setting a new block size record.  More recently, there was a block of 1.2GB, and for the first time ever transaction fees exceeded block subsidy reward.  The excitement continued with the first ever 2GB Block, earning 10 BSV in fees, in addition to the 6.25 BSV reward subsidy. Scaling the network with bigger blocks that hold more transactions and data supports TAAL’s long-term view that transaction processing fees will generate far more income that block rewards.  TAAL is developing tools and services that help developers and enterprise access the power of Bitcoin.

On the strength of increasing numbers of large blocks successfully mined on the BSV network, the Bitcoin Association has issued an advisory, supported by TAAL, for miners to increase the hard cap settings on Bitcoin SV to 2GB, as of August 13, 2021. This network scaling with bigger blocks that hold more transactions and data supports increased transaction capacity while maintaining low transaction fees to facilitate use and utility. 

Stefan Matthews, TAAL Executive Chairman and Chief Executive Officer said, “The solid results that we report today for Q2 2021 reflect the success of our team through several strategic initiatives. The first half of 2021 saw growth of our processing power as we prepare for higher transaction volumes on BitcoinSV.  Bigger blocks, more transactions, and more data on chain are all strong indications of BSV adoption.  TAAL is well positioned to accelerate our strategy to grow BSV application development as well as enterprise demand.”

CoinGeek Conference

The CoinGeek conference is returning to New York City,  from October 5^th to 7^th to showcase the latest developments on the BSV Blockchain. The BSV Blockchain is revolutionizing the world through its data management solutions because of its scalability, stability, security, and safe instant transactions. There are amazing solutions built on top of the BSV Blockchain that allow Supply Chain Management, Health Care, Global FinTech, Marketing, and many other industries to transform the way they do business. It’s about time you knew about them.  TAAL encourages attendance at this conference, hosted by CoinGeek for those interested in finding out more about it see the link below.

Join TAAL live or virtually at CoinGeek New York to learn more.

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 delivery of newly purchased computers; BSV transaction volumes and the anticipated acceleration of TAAL strategy to grow BSV application development and enterprise demand. 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. 

* NON-IFRS FINANCIAL MEASURES

The terms “EBITDA” (net income or loss excluding net finance income or expense, income tax or recovery, depreciation, and amortization) and “Adjusted EBITDA” (which is calculated by the Company by adjusting EBITDA to exclude share-based payments, fair value loss or gain on
re-measurement of digital assets, gain (loss) on foreign exchange, and costs associated with one time transactions) are not recognized measures nor do they have standardized meanings under International Financial Reporting Standards (“IFRS”). There is no standardized measure of “EBITDA” or “Adjusted EBITDA” under IFRS and consequently, TAAL’s method of calculating this measure may differ from methods used by other companies and therefore may not be comparable to similar measures presented by other companies. A reconciliation of “Adjusted EBITDA” to Net Loss can be found in the MD&A. 

SOURCE Taal Distributed Information Technologies Inc.

For further information: Matt Whitcomb, Investor Relations, [email protected] or 604-260-6142; Stefan Matthews, CEO & Executive Chairman, [email protected]; Chris Naprawa, President, [email protected]

TAAL Announces 2021 Second-Quarter Revenue of $6.7 Million, and Adjusted EBITDA of $629,000

 

TORONTO, Aug. 23, 2021 /CNW/ – 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 and six months ended June 30, 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.

Second Quarter Highlights

• As of June 30, 2021, TAAL held approximately 100,900 BitcoinSV (“BSV”) in treasury
• Gross revenues of $6.7 million for the second quarter ended June 30, 2021, represented an increase of almost 7 times compared to Q1 2021
• Adjusted EBITDA* for the quarter was $629,000. Net loss for the period was $10.1 million, largely due to the loss on the revaluation of digital assets.
• TAAL purchased 3,000 Bitmain S19j Pro Blockchain computers due for delivery in Q1, 2022
• WhatsOnChain continues to deliver on its promise to be the world’s BSV block explorer and data provider, attracting 33.5 million web and API requests in June, and 40 million API requests in July.

Subsequent to the Quarter

The Company has upgraded its previously announced purchase of 1,000 Bitmain S19J hashing machines to 900 S19J  Pro model.  The machines will provide the same amount of hashing power while requiring less electricity and space to host.  The additional investment is approximately $1 million.

The BitcoinSV blockchain has seen an increase in large blocks routinely being processed.  These larger blocks are resulting in higher transaction fees in addition to the block subsidy reward of 6.25 BSV per block.  In July TAAL earned 371 BSV from transaction processing fees and 737 so far in August.  This is compared to 105 and 138 BSV in fees for May and June respectively.

August has been a month of new records for TAAL and the BSV blockchain.  First TAAL successfully mined 3, 1 GB blocks setting a new block size record.  More recently, there was a block of 1.2GB, and for the first time ever transaction fees exceeded block subsidy reward.  The excitement continued with the first ever 2GB Block, earning 10 BSV in fees, in addition to the 6.25 BSV reward subsidy. Scaling the network with bigger blocks that hold more transactions and data supports TAAL’s long-term view that transaction processing fees will generate far more income that block rewards.  TAAL is developing tools and services that help developers and enterprise access the power of Bitcoin.

On the strength of increasing numbers of large blocks successfully mined on the BSV network, the Bitcoin Association has issued an advisory, supported by TAAL, for miners to increase the hard cap settings on Bitcoin SV to 2GB, as of August 13, 2021. This network scaling with bigger blocks that hold more transactions and data supports increased transaction capacity while maintaining low transaction fees to facilitate use and utility. 

Stefan Matthews, TAAL Executive Chairman and Chief Executive Officer said, “The solid results that we report today for Q2 2021 reflect the success of our team through several strategic initiatives. The first half of 2021 saw growth of our processing power as we prepare for higher transaction volumes on BitcoinSV.  Bigger blocks, more transactions, and more data on chain are all strong indications of BSV adoption.  TAAL is well positioned to accelerate our strategy to grow BSV application development as well as enterprise demand.”

CoinGeek Conference

The CoinGeek conference is returning to New York City,  from October 5^th to 7^th to showcase the latest developments on the BSV Blockchain. The BSV Blockchain is revolutionizing the world through its data management solutions because of its scalability, stability, security, and safe instant transactions. There are amazing solutions built on top of the BSV Blockchain that allow Supply Chain Management, Health Care, Global FinTech, Marketing, and many other industries to transform the way they do business. It’s about time you knew about them.  TAAL encourages attendance at this conference, hosted by CoinGeek for those interested in finding out more about it see the link below.

Join TAAL live or virtually at CoinGeek New York to learn more.

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 delivery of newly purchased computers; BSV transaction volumes and the anticipated acceleration of TAAL strategy to grow BSV application development and enterprise demand. 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. 

* NON-IFRS FINANCIAL MEASURES

The terms “EBITDA” (net income or loss excluding net finance income or expense, income tax or recovery, depreciation, and amortization) and “Adjusted EBITDA” (which is calculated by the Company by adjusting EBITDA to exclude share-based payments, fair value loss or gain on
re-measurement of digital assets, gain (loss) on foreign exchange, and costs associated with one time transactions) are not recognized measures nor do they have standardized meanings under International Financial Reporting Standards (“IFRS”). There is no standardized measure of “EBITDA” or “Adjusted EBITDA” under IFRS and consequently, TAAL’s method of calculating this measure may differ from methods used by other companies and therefore may not be comparable to similar measures presented by other companies. A reconciliation of “Adjusted EBITDA” to Net Loss can be found in the MD&A. 

SOURCE Taal Distributed Information Technologies Inc.

For further information: Matt Whitcomb, Investor Relations, [email protected] or 604-260-6142; Stefan Matthews, CEO & Executive Chairman, [email protected]; Chris Naprawa, President, [email protected]

Friday, August 13, 2021

QuoteMedia (QMCI)
A Slow Walk Toward Margin Improvement

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.

Mixed Q2 results: Revenues were modestly better than expected by 1.9%, $3.833 million, up 26.5% from the year earlier quarter, versus our estimate of $3.760 million. The largest upside revenue variance was due to better than expected Interactive Content & Data revenue, $1.607 million versus our $1.565 million estimate. While adjusted EBITDA increased 45.7% to $311,000, it was 22% below our expectation of $399,000.


Still waiting: While the acceleration in revenue growth is encouraging, we are still awaiting the prospect of improving gross and adjusted EBITDA margins.  Unfortunately, the growth in revenues have come at a cost, as gross margins have declined from a high of 51% for the full year 2019 to 46% in 2020 to 42.8% in the latest quarter. Q2 gross margins were relatively flat to Q1 at 43%. Management …

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 Q2 2021 Financial Results and Investors’ Conference Call August 12, 2021

 

PHOENIX, Aug. 09, 2021 (GLOBE NEWSWIRE) — QuoteMedia, Inc. (OTCQB: QMCI), a leading provider of market data and financial applications, today announced that its earnings for its quarter ended June 30, 2021 will be released the morning of August 12, 2021. That same day, the company will host a conference call at 2:00 PM Eastern time to discuss the financial results and provide a business update.

Conference Call Details:

Date: August 12, 2021

Time: 2:00 PM Eastern

Dial-in numbers: 877-876-9173

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™ and Quotestream Connect™ are trademarks of QuoteMedia. For more information, please visit www.quotemedia.com..

QuoteMedia Investor Relations
Brendan Hopkins
Email: [email protected]
Call: (407) 645-5295

QuoteMedia Q2 2021 Financial Results and Investors’ Conference Call August 12, 2021

 

PHOENIX, Aug. 09, 2021 (GLOBE NEWSWIRE) — QuoteMedia, Inc. (OTCQB: QMCI), a leading provider of market data and financial applications, today announced that its earnings for its quarter ended June 30, 2021 will be released the morning of August 12, 2021. That same day, the company will host a conference call at 2:00 PM Eastern time to discuss the financial results and provide a business update.

Conference Call Details:

Date: August 12, 2021

Time: 2:00 PM Eastern

Dial-in numbers: 877-876-9173

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™ and Quotestream Connect™ are trademarks of QuoteMedia. For more information, please visit www.quotemedia.com..

QuoteMedia Investor Relations
Brendan Hopkins
Email: [email protected]
Call: (407) 645-5295

 

Voyager Digital Partners with Usio to Enable Merchants and ISVs to Accept Cryptocurrency as a Form of Payment

 

Voyager‘s Coinify subsidiary to provide state-of-the-art, secure payment platform

NEW YORK, Aug. 4, 2021 /PRNewswire/ – Voyager Digital Ltd. (“Voyager” or the “Company”) (CSE: VYGR) (OTCQX: VYGVF) (FRA: UCD2), the fastest-growing, publicly-traded cryptocurrency platform in the United States, announced today that it has partnered with Usio, Inc. (NASDAQ: USIO), a FinTech and integrated electronic payment solutions provider, to enable its merchants to accept many prominent cryptocurrencies as payment.

Stephen Ehrlich, CEO and Co-Founder of Voyager said, “We are pleased to build on our strong, long-term relationship with Usio by partnering on this exciting, new initiative to facilitate cryptocurrency payments globally at the merchant and ISV-level. The combination of Usio‘s innovative, client-facing technology and Voyager‘s state-of-the-art, scalable, and secure payment offering, via our recent Coinify acquisition, is coming together just as the adoption of cryptocurrency as a form of payment is experiencing exponential growth. This new program will provide both merchants and ISVs an efficient, cost-effective, and seamless tool that responds to the evolution in payment trends.”

Louis Hoch, President and Chief Executive Officer of Usio, said, “Since its inception, Usio has been an innovator in the fintech industry. By providing our merchants with the ability to accept various types of cryptocurrencies for all our payment solutions, safely and securely, just like we do for traditional electronic payment options, we will enable the merchants and ISV‘s we serve to meet the increasingly diverse payment needs of their customers. The development of this new capability further reinforces our commitment to the cryptocurrency markets, as we already support the electronic payment and disbursement needs of crypto exchanges, brokerages and related organizations.”

Usio‘s unique new product will enable merchants to accept cryptocurrency as payment in-person, online, via electronic invoice or text-to-pay, among others, and can be transacted using the Voyager app. Usio will support as many as sixty cryptocurrencies across the globe, making it simple, convenient, and safe. This is a new way for Usio merchants to allow customers to checkout with cryptocurrency for online purchases, donations, tax payments and more. The introduction of a crypto option reinforces our commitment to offering Usio merchants more convenient options for their customers to pay. Customers can check out safely and easily, quickly converting cryptocurrency holdings to US dollars at checkout, with clear conversion rates and no additional fees–all in real time with no exchange risk in price fluctuation that some non-stable crypto currencies experience.

Usio expects this service to be available in late 2021.

About Voyager Digital Ltd.

Voyager Digital Ltd. (CSE: VYGR;OTCQX: VYGVF; FRA: UCD2) is the fast-growing, publicly-traded cryptocurrency platform founded in 2018 to bring choice, transparency, and cost efficiency to the marketplace. Voyager offers a secure way to invest and trade in over 60 different crypto assets, with zero commissions, using its easy-to-use mobile application, and earn rewards up to 12 percent APY on more than 30 cryptocurrencies. Through its subsidiary Coinify ApS, Voyager provides crypto payment solutions for both consumers and merchants around the globe. To learn more about the company, please visit https://www.investvoyager.com.

About Usio, Inc.

Usio, Inc. (Nasdaq: USIO), a leading FinTech integrated payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus, crypto exchanges and card issuers. The Company operates credit, debit/prepaid, and ACH payment processing platforms to deliver convenient, world-class payment solutions and services to their clients. The strength of the Company lies in its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the prepaid sector. Usio is headquartered in San Antonio, Texas, and has offices in Austin, Texas and Franklin, Tennessee, just outside of Nashville.

Websites: www.usio.com, www.singularpayments.com, www.payfacinabox.com, www.akimbocard.com and www.usiooutput.com.

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.

Cautionary Statement Regarding Forward-Looking Information

This news release contains “forward-looking statements” that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “seek”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, those risk factors outlined in the Company’s Management Discussion and Analysis as filed on SEDAR. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Press Contacts
Michael Legg
Chief Communications Officer, Voyager Digital
(212) 547-8807
[email protected]

Voyager Public Relations Team 
[email protected]

SOURCE Voyager Digital (Canada) Ltd.

 

Voyager Digital Partners with Usio to Enable Merchants and ISVs to Accept Cryptocurrency as a Form of Payment

 

Voyager‘s Coinify subsidiary to provide state-of-the-art, secure payment platform

NEW YORK, Aug. 4, 2021 /PRNewswire/ – Voyager Digital Ltd. (“Voyager” or the “Company”) (CSE: VYGR) (OTCQX: VYGVF) (FRA: UCD2), the fastest-growing, publicly-traded cryptocurrency platform in the United States, announced today that it has partnered with Usio, Inc. (NASDAQ: USIO), a FinTech and integrated electronic payment solutions provider, to enable its merchants to accept many prominent cryptocurrencies as payment.

Stephen Ehrlich, CEO and Co-Founder of Voyager said, “We are pleased to build on our strong, long-term relationship with Usio by partnering on this exciting, new initiative to facilitate cryptocurrency payments globally at the merchant and ISV-level. The combination of Usio‘s innovative, client-facing technology and Voyager‘s state-of-the-art, scalable, and secure payment offering, via our recent Coinify acquisition, is coming together just as the adoption of cryptocurrency as a form of payment is experiencing exponential growth. This new program will provide both merchants and ISVs an efficient, cost-effective, and seamless tool that responds to the evolution in payment trends.”

Louis Hoch, President and Chief Executive Officer of Usio, said, “Since its inception, Usio has been an innovator in the fintech industry. By providing our merchants with the ability to accept various types of cryptocurrencies for all our payment solutions, safely and securely, just like we do for traditional electronic payment options, we will enable the merchants and ISV‘s we serve to meet the increasingly diverse payment needs of their customers. The development of this new capability further reinforces our commitment to the cryptocurrency markets, as we already support the electronic payment and disbursement needs of crypto exchanges, brokerages and related organizations.”

Usio‘s unique new product will enable merchants to accept cryptocurrency as payment in-person, online, via electronic invoice or text-to-pay, among others, and can be transacted using the Voyager app. Usio will support as many as sixty cryptocurrencies across the globe, making it simple, convenient, and safe. This is a new way for Usio merchants to allow customers to checkout with cryptocurrency for online purchases, donations, tax payments and more. The introduction of a crypto option reinforces our commitment to offering Usio merchants more convenient options for their customers to pay. Customers can check out safely and easily, quickly converting cryptocurrency holdings to US dollars at checkout, with clear conversion rates and no additional fees–all in real time with no exchange risk in price fluctuation that some non-stable crypto currencies experience.

Usio expects this service to be available in late 2021.

About Voyager Digital Ltd.

Voyager Digital Ltd. (CSE: VYGR;OTCQX: VYGVF; FRA: UCD2) is the fast-growing, publicly-traded cryptocurrency platform founded in 2018 to bring choice, transparency, and cost efficiency to the marketplace. Voyager offers a secure way to invest and trade in over 60 different crypto assets, with zero commissions, using its easy-to-use mobile application, and earn rewards up to 12 percent APY on more than 30 cryptocurrencies. Through its subsidiary Coinify ApS, Voyager provides crypto payment solutions for both consumers and merchants around the globe. To learn more about the company, please visit https://www.investvoyager.com.

About Usio, Inc.

Usio, Inc. (Nasdaq: USIO), a leading FinTech integrated payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus, crypto exchanges and card issuers. The Company operates credit, debit/prepaid, and ACH payment processing platforms to deliver convenient, world-class payment solutions and services to their clients. The strength of the Company lies in its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the prepaid sector. Usio is headquartered in San Antonio, Texas, and has offices in Austin, Texas and Franklin, Tennessee, just outside of Nashville.

Websites: www.usio.com, www.singularpayments.com, www.payfacinabox.com, www.akimbocard.com and www.usiooutput.com.

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.

Cautionary Statement Regarding Forward-Looking Information

This news release contains “forward-looking statements” that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “seek”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, those risk factors outlined in the Company’s Management Discussion and Analysis as filed on SEDAR. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Press Contacts
Michael Legg
Chief Communications Officer, Voyager Digital
(212) 547-8807
[email protected]

Voyager Public Relations Team 
[email protected]

SOURCE Voyager Digital (Canada) Ltd.

 

Voyager Digital Acquires Leading Global Cryptocurrency Payment Processing Company, Coinify

 

 

The acquisition accelerates Voyager‘s international expansion and will diversify the company‘s products and revenue streams.

NEW YORK, Aug. 2, 2021 /CNW/ – Voyager Digital Ltd. (“Voyager” or the “Company”) (CSE: VYGR) (OTCQX: VYGVF) (FRA: UCD2), the fastest-growing, publicly-traded cryptocurrency platform in the United States, today announced the acquisition of Coinify ApS, a leading cryptocurrency payment platform with a global user base in over 150 countries. The acquisition accelerates Voyager‘s international expansion and Voyager‘s capabilities into the payment space so that customers will soon be able to make payments directly from their digital asset accounts. The Coinify acquisition also fast-tracks Voyager into the business-to-business payment space.

“As the adoption of cryptocurrency payments gains momentum, the acquisition of Coinify brings a global payment infrastructure to Voyager‘s digital asset ecosystem and will give our rapidly growing customer base of over 1.75 million users a fast, easy, and secure way to make payments from their Voyager accounts,” said Stephen Ehrlich, CEO and Co-Founder of Voyager. “Coinify‘s core values of innovation, security, and scalability are perfectly aligned with Voyager‘s mission of making digital assets accessible throughout the world.”

The Coinify acquisition provides Voyager with an established and effective gateway to the crypto payment industry through its virtual currency payment platform available in Europe, Asia, North America, and South America. Coinify‘s global enterprise services include individual payment processing in 15 major cryptocurrencies and transaction settlement in 20 fiat currencies via their easy-to-integrate Coinify API.

“We are excited to join the outstanding, innovative team at Voyager, and become part of Voyager‘s market-leading offerings, brand, and community, and to rapidly grow merchants utilizing Coinify‘s payment processing technology,” stated Mark Hojgaard, CEO and Co-founder of Coinify. “The combination positions Voyager as the go-to choice for businesses and individuals seeking an efficient transaction vehicle for a wide range of purchases globally.” 

Payments are the next step in the growth of Voyager, whose user base grew over 1400% in the first six months of 2021. The company plans to provide payment options to its customers, many of whom are small to midsize business owners. Crypto payment usage has grown substantially over the last 12 months and Voyager will be able to capitalize on that growth with a broadening line of products and services.

Lewis Bateman, Voyager‘s Chief International Officer said, “The acquisition of Coinify will greatly accelerate our expansion into Europe and help us meet the growing demand for our current product offering internationally.”

Under the terms of the share purchase agreement, the consideration to Coinify shareholders will consist of 5,100,000 of newly issued shares of Voyager Digital Ltd. common stock and US$15 million in cash. As part of the agreement, the Company will retain US$5.5 million of cash on the Coinify balance sheet. Voyager will retain substantially all current Coinify employees, entering into employment agreements with key members of the management team. The transaction is expected to be immediately accretive to both revenue and cash flow.

Of the 5,100,000 shares, 1,500,000 shares are subject to a lock-up agreement which provides that they may only be sold 30 days after the Closing Date, pursuant to trades that do not in the aggregate exceed 5% of the average daily trading volume,  3,281,250 shares are subject to a lock-up period ending on the earlier of (i) 12 months from the closing date and (ii) the date the Company is listed on NASDAQ and 318,750 of the shares will be issued 12 months from the closing date.

In connection with this transaction, Fort Capital Partners acted as Financial Advisor to Voyager and Stifel KBW acted as Financial Advisor to Coinify. Legal advisors to Voyager were Fasken, Baker McKenzie, and Accura.  Bruun and Hjejle acted as legal advisor to Coinify.

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 seamless solution to invest in and trade crypto assets. The Voyager platform provides customers with competitive price execution through its smart order router and a custody solution on a wide choice of popular digital assets. Voyager was founded by established Wall Street and Silicon Valley entrepreneurs who teamed up to bring a better, more transparent, and cost-efficient alternative for trading cryptocurrencies 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.

Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward-looking statements” that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “seek”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, those risk factors outlined in the Company’s Management Discussion and Analysis as filed on SEDAR. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Press Contacts
Michael Legg
Chief Communications Officer, Voyager Digital
(212) 547-8807
[email protected]

Voyager Public Relations Team 
[email protected]

SOURCE Voyager Digital Ltd.

 

Voyager Digital Acquires Leading Global Cryptocurrency Payment Processing Company, Coinify

 

 

The acquisition accelerates Voyager‘s international expansion and will diversify the company‘s products and revenue streams.

NEW YORK, Aug. 2, 2021 /CNW/ – Voyager Digital Ltd. (“Voyager” or the “Company”) (CSE: VYGR) (OTCQX: VYGVF) (FRA: UCD2), the fastest-growing, publicly-traded cryptocurrency platform in the United States, today announced the acquisition of Coinify ApS, a leading cryptocurrency payment platform with a global user base in over 150 countries. The acquisition accelerates Voyager‘s international expansion and Voyager‘s capabilities into the payment space so that customers will soon be able to make payments directly from their digital asset accounts. The Coinify acquisition also fast-tracks Voyager into the business-to-business payment space.

“As the adoption of cryptocurrency payments gains momentum, the acquisition of Coinify brings a global payment infrastructure to Voyager‘s digital asset ecosystem and will give our rapidly growing customer base of over 1.75 million users a fast, easy, and secure way to make payments from their Voyager accounts,” said Stephen Ehrlich, CEO and Co-Founder of Voyager. “Coinify‘s core values of innovation, security, and scalability are perfectly aligned with Voyager‘s mission of making digital assets accessible throughout the world.”

The Coinify acquisition provides Voyager with an established and effective gateway to the crypto payment industry through its virtual currency payment platform available in Europe, Asia, North America, and South America. Coinify‘s global enterprise services include individual payment processing in 15 major cryptocurrencies and transaction settlement in 20 fiat currencies via their easy-to-integrate Coinify API.

“We are excited to join the outstanding, innovative team at Voyager, and become part of Voyager‘s market-leading offerings, brand, and community, and to rapidly grow merchants utilizing Coinify‘s payment processing technology,” stated Mark Hojgaard, CEO and Co-founder of Coinify. “The combination positions Voyager as the go-to choice for businesses and individuals seeking an efficient transaction vehicle for a wide range of purchases globally.” 

Payments are the next step in the growth of Voyager, whose user base grew over 1400% in the first six months of 2021. The company plans to provide payment options to its customers, many of whom are small to midsize business owners. Crypto payment usage has grown substantially over the last 12 months and Voyager will be able to capitalize on that growth with a broadening line of products and services.

Lewis Bateman, Voyager‘s Chief International Officer said, “The acquisition of Coinify will greatly accelerate our expansion into Europe and help us meet the growing demand for our current product offering internationally.”

Under the terms of the share purchase agreement, the consideration to Coinify shareholders will consist of 5,100,000 of newly issued shares of Voyager Digital Ltd. common stock and US$15 million in cash. As part of the agreement, the Company will retain US$5.5 million of cash on the Coinify balance sheet. Voyager will retain substantially all current Coinify employees, entering into employment agreements with key members of the management team. The transaction is expected to be immediately accretive to both revenue and cash flow.

Of the 5,100,000 shares, 1,500,000 shares are subject to a lock-up agreement which provides that they may only be sold 30 days after the Closing Date, pursuant to trades that do not in the aggregate exceed 5% of the average daily trading volume,  3,281,250 shares are subject to a lock-up period ending on the earlier of (i) 12 months from the closing date and (ii) the date the Company is listed on NASDAQ and 318,750 of the shares will be issued 12 months from the closing date.

In connection with this transaction, Fort Capital Partners acted as Financial Advisor to Voyager and Stifel KBW acted as Financial Advisor to Coinify. Legal advisors to Voyager were Fasken, Baker McKenzie, and Accura.  Bruun and Hjejle acted as legal advisor to Coinify.

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 seamless solution to invest in and trade crypto assets. The Voyager platform provides customers with competitive price execution through its smart order router and a custody solution on a wide choice of popular digital assets. Voyager was founded by established Wall Street and Silicon Valley entrepreneurs who teamed up to bring a better, more transparent, and cost-efficient alternative for trading cryptocurrencies 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.

Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward-looking statements” that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “seek”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, those risk factors outlined in the Company’s Management Discussion and Analysis as filed on SEDAR. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Press Contacts
Michael Legg
Chief Communications Officer, Voyager Digital
(212) 547-8807
[email protected]

Voyager Public Relations Team 
[email protected]

SOURCE Voyager Digital Ltd.

	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, [email protected] 604-260-6142
Stefan Matthews, CEO & Executive Chairman, [email protected]
Chris Naprawa, President, [email protected]

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, [email protected] 604-260-6142
Stefan Matthews, CEO & Executive Chairman, [email protected]
Chris Naprawa, President, [email protected]