TORONTO / Feb 14, 2024 / Business Wire / Tokens.com Corp. (Cboe Canada: COIN)(Frankfurt Stock Exchange: 76M) (OTCQB US: SMURF) (“Tokens.com” or the “Company”), a technology holding company that owns an inventory of cryptocurrencies, is pleased to report its financial results for three months ended December 31, 2023 (“Q1-2024”). All dollar figures are in United States dollars (“USD”), unless otherwise stated.
Q1-2024 Financial and Operating Highlights
“Difficult decisions were made in December and January regarding Metaverse Group and Hulk Labs. Management determined that the most economical option for shareholders was to dispose of Metaverse Group and Hulk Labs ,” said Andrew Kiguel, CEO of Tokens.com.
“These businesses were struggling and required further substantial investment to survive. Capital for those businesses would have needed to come from a dilutive financing or from selling our crypto inventory. A better solution was found by selling the assets to StoryFire. This transaction places the assets in the hands of a larger, well capitalized platform. Tokens.com retains the upside through our equity ownership in StoryFire and no longer has to carry the overhead associated with these operations. Management and the board are continuing to explore additional potential transactions to enhance shareholder value,” added Kiguel.
A complete financial reporting package, including the Unaudited Condensed Consolidated Interim Financial Statements and Management’s Discussion & Analysis, is available on our corporate website (www.tokens.com), and the SEDAR website (www.sedar.com).
An investor call has been scheduled to discuss the Company’s Q1-2024 financial results, hosted by CEO Andrew Kiguel, starting at 10:00 am ET on February 14, 2024.
Conference Call Details:
Date: February 14, 2024
Time: 10:00 a.m. ET
Zoom Webinar Registration:
https://us06web.zoom.us/webinar/register/WN_vrXDoDmhReeMAok3_w78uw
To join the webinar, register using the link provided above. Upon registration a Zoom link will be emailed to the registered email address. The webinar will be available via computer, tablet, and smartphone devices. In addition, a dial-in phone number will be provided in the email upon registration. Callers dialing in using a telephone will automatically be placed in a listen only mode. The question period will not be available to dial-in callers.
About Tokens.com
Tokens.com is a technology holding company that owns an inventory of cryptocurrency, digital real estate, and a collection of top ranked crypto related domain names.
Visit Tokens.com to learn more.
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Forward-Looking Statements
This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of cryptocurrencies, as described in more detail in our securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
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Market Cap: | US$22.540M |
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