Tuesday, August 24, 2021

TAAL Distributed Information Technologies (TAALF)
2Q Results In-Line with Expectations

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.

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

2Q21 Results. TAAL reported 2Q21 results yesterday. Revenue totaled $6.7 million and the Company reported a net loss of $10.1 million, or $0.29 per share. (All figures are in Canadian dollars unless noted.) In the same period last year, TAAL reported revenue of $1.6 million and a net loss of $2.4 million, or a loss of $0.11 per share. We had projected revenue of $6.0 million and a net loss of $2.1 million, or a loss of $0.06 per share.


Revaluation Impacted Bottom Line.  While revenue grew from an increase in mining machines on-line, overall results were negatively impacted by an $8.8 million revaluation loss on digital assets, as the holdings of Bitcoin SV were marked to market at quarter’s end. Excluding this non-cash charge, operating loss is estimated at $1.3 million. At the end of June, TAAL held approximately 100,900 Bitcoin …

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.