Tokens.com Announces Fiscal Year-End Change

Rhea-AI Summary

Tokens.com Corp. (OTCQB: SMURF) has announced a change in its fiscal year-end from December 31 to September 30. This adjustment aims to enhance the audit process due to increased demand for year-end auditing services. The company plans to file its nine-month financial statements for the period ending September 30, 2022, in mid-December 2022. Tokens.com, focused on web3 assets, operates in three segments: crypto staking, metaverse, and play-to-earn gaming, leveraging blockchain technology.

Positive

• Change in fiscal year-end to September 30 may streamline audit processes.
• Focus on growing sectors: crypto staking, metaverse, and play-to-earn gaming.

Negative

• None.

TORONTO--(BUSINESS WIRE)-- Tokens.com Corp. (NEO Exchange Canada: COIN)(Frankfurt Stock Exchange: 76M) (OTCQB US: SMURF) (“Tokens.com” or the “Company”), a publicly-traded company that invests in web3 assets and builds businesses linked to crypto staking, the metaverse and play-to-earn gaming, today announces that it is changing its fiscal year-end from December 31 to September 30.

The Company is changing its year-end to better facilitate the audit process given the significant demand it has observed in recent years for audit services for companies that have a year-end of December 31. As a result, the Company expects to file its audited nine-month fiscal year ended September 30, 2022 financial statements in mid-December 2022.

For more details regarding the length and ending dates of the financial periods, including the comparative periods of the interim and annual financial statements to be filed for the Company’s transition year and its new financial year, reference is made to the Notice of Change in Year-End required under Section 4.8 of National Instrument 51-102 that has been filed under the Company’s profile at www.sedar.com.

About Tokens.com

Tokens.com Corp is a publicly traded company that invests in web3 assets and builds web3 businesses. The Company focuses on three operating segments: i) crypto staking, ii) the metaverse and, iii) play-to-earn crypto gaming. Tokens.com owns digital assets and operating businesses within each of these three segments.

Staking operations occur within Tokens.com. Metaverse operations occur within a subsidiary called Metaverse Group. Crypto gaming operations occur within a subsidiary called Hulk Labs. All three businesses are tied together by the utilization of blockchain technology and are linked to high-growth macro trends within web3. Through sharing resources and infrastructure across these business segments, Tokens.com is able to efficiently incubate these businesses from inception to revenue generation.

Visit Tokens.com to learn more.

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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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221018005253/en/

Tokens.com Corp.

Andrew Kiguel, CEO

Telephone: +1-647-578-7490

Email: contact@tokens.com

Jennifer Karkula, Head of Communications

Email: contact@tokens.com

Media Contact: Ali Clarke – Talk Shop Media

Email: ali@talkshopmedia.com

Source: Tokens.com Corp.

FAQ

What is the new fiscal year-end date for Tokens.com (SMURF)?

Tokens.com has changed its fiscal year-end from December 31 to September 30.

When will Tokens.com (SMURF) file its financial statements?

Tokens.com expects to file its audited financial statements for the nine-month period ending September 30, 2022, in mid-December 2022.

Why did Tokens.com (SMURF) change its fiscal year-end?

The change was made to better facilitate the audit process due to increased demand for year-end audit services.

What segments does Tokens.com (SMURF) operate in?

Tokens.com operates in three segments: crypto staking, the metaverse, and play-to-earn gaming.