Liquid Meta Reports Q1 2023 Financial Results
Liquid Meta Capital Holdings Ltd. (LIQQF) announced its Q1 2023 financial results, reporting net revenues of $200,748 and total revenues of $421,440 for the period ending August 31, 2022. The company experienced a net loss of $831,922, equating to a loss per share of $0.02. Total shareholders' equity stands at approximately US$21.0 million or US$0.40 per share. Liquid Meta has deployed capital across 10 blockchains and is advancing its technology development with multi-chain auditing software, enhancing DeFi access for traditional financial institutions.
- Quarterly net revenues of $200,748.
- Total revenue from Reward Tokens, Staking, and Trading Fees of $421,440.
- Successful deployment of capital across 10 blockchains and 31 decentralized platforms.
- Advancements in technology with multi-chain auditing software, improving efficiency in DeFi.
- Net loss of $831,922 primarily due to increased general and administrative costs.
- Net loss per share of $0.02, indicating operational challenges.
TORONTO, Oct. 17, 2022 /PRNewswire/ - Liquid Meta Capital Holdings Ltd. ("Liquid Meta" or the "Company") (NEO: LIQD) (FRANKFURT: N5F) (OTCQB: LIQQF) a decentralized finance infrastructure and technology company focused on bridging the gap between traditional and decentralized finance, today announced its financial results for the three-months ending August 31, 2022.
All dollar figures are in United States dollars ("USD"), unless otherwise stated.
- Quarterly net revenues of
$200,748 - Total Reward Tokens, Staking, and Trading Fee revenues of
$421,440 for the three months ended August 31, 2022 - Net loss, of
$831,922 , largely due to higher General and Administrative and Professional Service Fee Costs, resulting in a net loss per share of$0.02 . - Excluding non-cash Share Based Compensation expense of
$322,042 , Net loss would have been$509,890 or$0.01 per share. - Total Shareholders' Equity of approximately US
$21.0 M (CAD$29.0 M ) or US$0.40 (CAD$0.54) per share - Deployed capital across 10 blockchains, 31 different decentralized platforms and 5 different strategies
- Incorporated direct node integration to 7 different blockchains on our search engine. Blockchains include Ethereum, Binance Smart Chain, Polygon, Avalanche, Fantom, Solana, Arbitrum.
- Completion of the first phase of technology development: multi chain auditing software capabilities, enabling automatic capture of transactions for record keeping, financial performance, and auditing purposes across blockchains, decentralized applications and liquidity pools (LP's)
- The multi chain auditing software represents a key component of the platform Liquid Meta is building, which will facilitate the way institutions deploy capital into Defi in a simple and safe way. MetaBrigde will incorporate key features including automatic yield optimization, audited transaction reports, multichain exposure, risk analysis, automatic recompounding and rebalancing.
Liquid Meta is a DeFi focused infrastructure and technology company. The Company has a liquidity mining operation where it generates returns through deployment of its own balance sheet on a variety of blockchains and decentralized applications. The Company is also developing technology to bridge the gap between traditional finance and the emerging open financial protocols being built in Web3. This technology is designed to make on-chain operations simpler, safer, and more efficient for traditional financial institutions to access Web3.
Since inception, Liquid Meta's approach to liquidity mining was designed to generate returns within DeFi using a market neutral approach. The rationale was to limit exposure to intense price swings while generating returns that were not dependent on prices going higher. I am pleased that we continue to generate yield while having maintained our balance sheet relative to the market in what has been an otherwise challenged macroeconomic backdrop across capital markets. While yields and on-chain volumes have been depressed, our strategy has allowed us the ability to continue building confidently and remain in a position to add risk should we see a prudent opportunity in the event of a market recovery", said Jonathan Wiesblatt, CEO of Liquid Meta. "Despite the macro economic environment, we continue to push forward on our growth plans as we believe open financial infrastructure is not a fad - it is the future of finance. Our expanding expertise in on-chain activities is directly linked to our design and development of "MetaBridge", which is our internal name for the technology stack we are building. Our platform is being built with the goal to onboard billions of dollars in institutional capital into open financial infrastructure in a safe, simple, and curated experience. Progress on our technology development is exciting and executing according to plan." added Wiesblatt.
Financial Statements and MD&A
Liquid Meta's financial Statements for the quarter ended August 31, 2022 and Management's Discussion and Analysis (the "MD&A") for the three months ended August 31, 2022 are available on SEDAR at www.sedar.com.
Liquid Meta is a decentralized finance infrastructure and technology company that is powering the next generation of open-access protocols and applications. The Company is creating the bridge between traditional and decentralized finance while ushering in a new era of financial infrastructure that benefits anyone, anywhere.
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Cautionary Notice
Neo Exchange has not reviewed or approved this press release for the adequacy or accuracy of its contents.
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Liquid Meta to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risks and Uncertainties" in the Company's Filing Statement dated as of December 17, 2021 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and Liquid Meta disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Liquid Meta's operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.
For further information:
Jonathan Wiesblatt, President, CEO
Liquid Meta Investor Relations
investors@liquidmeta.io
jon@liquidmeta.io
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SOURCE Liquid Meta Capital Holdings Ltd
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