DigitalAMN Provides Insights on Third Quarter 2021 Disclosures and Operational Updates

Rhea-AI Summary

Digital Asset Monetary Network (OTCMKTS: DATI) reported significant financial improvements in its recent 3rd quarter disclosures. The company achieved a 180% increase in revenues, totaling $224,301 compared to $110,000 in 2020. Losses from operations decreased by 67% to $274,566, and overall net losses were reduced by 44% to $518,221. Additionally, total assets grew by 14% to $1,989,567. The company also eliminated $673,762 in convertible debts during the nine months ending September 30, 2021. DigitalAMN is actively pursuing opportunities in the DNS ecosystem and blockchain markets.

Positive

• 180% revenue increase to $224,301 for the nine months ending September 30, 2021.
• 67% reduction in operational losses to $274,566.
• 44% decrease in net losses to $518,221.
• Total assets increased by 14% to $1,989,567.
• $673,762 of convertible and legacy debts extinguished.

Negative

• None.

NEW YORK, Nov. 23, 2021 (GLOBE NEWSWIRE) -- Digital Asset Monetary Network, Inc. (“DigitalAMN”, “DAMN”, or the “Company”) (OTCMKTS: DATI), a Public Accelerator-Incubator (“PAI”), updates its shareholders on the Company’s recently filed 3^rd QT Disclosures.

Management believes that the Disclosures filed for this past quarter, which ended September 30^th, 2021, reflect a continued effort to grow the Company at a steady pace.

• Revenues increased 180% to $224,301 for the nine months ended September 30, 2021, as compared to $110,000 during the same period in 2020.
  
  
• Losses from operations decreased 67% to $274,566 for the nine months ended September 30, 2021, as compared to $830,864 during the corresponding 2020 period.
  
  
• Net losses reflected $518,221 for the nine months ended September 30, 2021. This is a decrease of $412,095, or 44%, from the nine months ended September 30, 2020, where net losses were $930,316.
  
• Total Assets reflected a modest increase of 14% from $1,752,289 for the nine months ended September 30, 2020, to $1,989,567 for the same period ended 2021.

• This quarter, another $276,200 in convertible and other legacy debt was extinguished, reflecting a total of $673,762 of convertible and other legacy debts being extinguished during the nine months ended September 30, 2021.
  

The Company also had the opportunity to participate in the global DNS (Domain Name System) ecosystem through the acquisition of a TLD (or “gTLD” (generic Top-Level-Domain)). The Company has completed a series of agreements and has established invaluable relationships with experienced Domain Name industry professionals to develop the acquired gTLD. As is the case with all gTLDs, the final transfer and assignment of this gTLD is subject to obtaining consent from the Internet Corporation for Assigned Names and Numbers (ICANN). Management will disclose the name of the gTLD acquired by the Company and its partners, once ICANN grants consent to complete the transfer and assignment.

In addition, management will continue streamlining the onboarding process, building its eLearning solution and proving-out the market-acceleration service model of the PAI Program. Likewise, DigitalAMN will also look to make incremental investments into those companies and persons supporting the PAI Ecosystem, while expanding the Company’s interest in the equity crowdfunding portal operator space.

Lastly, as 2021 comes to a close and the ‘metaverse’ begins to take shape, management will look to finalize pending opportunities in the blockchain and crypto markets, which will support the PAI Ecosystem and DigitalAMN’s contemplated business divisions.

For more information, please visit www.DigitalAMN.com.

ABOUT Digital Asset Monetary Network, Inc.

Digital Asset Monetary Network, Inc. (OTCMKTS: DATI) uses the Public Accelerator-Incubator (PAI) model with the intention of following the global success of accelerators and incubators around the world, adding niche opportunities to both the microcap and startup communities. As a PAI, Digital Asset Monetary Network will develop and acquire innovations that solve problems through digital platforms and other electronic applications.

Twitter: https://twitter.com/OTC_DATI
LinkedIn: https://www.linkedin.com/company/digitalamn/
Instagram: https://www.instagram.com/digitalamn/
Facebook: https://www.facebook.com/DigitalAssetMonetaryNetwork/

For investor and general information, please email info@DigitalAMN.com.

Forward Looking Statements

Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. No information in this press release should be construed as any indication whatsoever of our future revenues, stock price, or results of operations, including with respect to the acquisition of the gTLD discussed herein.

Further, final transfer and assignment of the above referenced gTLD is subject to ICANN’s consent; as such, no information contained herein should be construed as any indication that the acquisition of the gTLD discussed is complete or final.

Lastly, any industry data presented herein is for illustrative purposes only and should not be construed as any indication whatsoever of the Company’s future performance.

Contact:
Public Relations Answering Center
(718) 285-6378 EXT 401
info@DigitalAMN.com

FAQ

What were the revenue figures for DATI in 2021?

Digital Asset Monetary Network reported revenues of $224,301 for the nine months ending September 30, 2021, marking a 180% increase from the previous year.

How much did DATI reduce its operational losses by?

DATI reduced its operational losses by 67%, amounting to $274,566 for the nine months ended September 30, 2021.

What is the total asset value for DATI as of September 30, 2021?

As of September 30, 2021, DATI's total assets were valued at $1,989,567, reflecting a 14% increase from the previous year.

What does DATI plan to do with the gTLD it acquired?

DATI plans to develop the acquired gTLD in the DNS ecosystem, awaiting ICANN's consent for final transfer and assignment.

How much debt did DATI extinguish during the past nine months?

During the nine months ending September 30, 2021, DATI extinguished a total of $673,762 in convertible and other legacy debts.