Wednesday, June 02, 2021

TAAL Distributed Information Technologies (TAALF)
1Q21 Results

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 Bitcoin SV platform, and developing, operating, and managing distributed computing systems for enterprise users.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Kevin Wahle, Equity Research Analyst, Noble Capital Markets, Inc.

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

1Q21 Results. TAAL reported 1Q21 results late last week. Revenue totaled $963,988 and the Company recorded a net profit of $2.6 million, or $0.07 per share. (All figures are in Canadian dollars unless noted.) In the same period last year, TAAL reported revenue of $5.97 million and a net loss of $840,410, or a loss of $0.05 per share. We had projected revenue of $3.0 million and a net loss of $4.3 million, or a loss of $0.12 per share.


One-time Gain Drove Positive Earnings.  The positive earnings in 1Q21 were driven by a $2.5 million gain from the sale of a subsidiary. Other contributors to earnings were $2.9 million of digital asset revaluation gain and $2.0 million of gain from the sale of digital assets. This compares to a $1.8 million loss and a $0.14 million gain, respectively, last year. While these two will impact results …

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.