Tokens.com Reports Financial Results for Q2 2024
Tokens.com Corp. reported its Q2-2024 financial results, showing revenue of $286k and $505k, a gain on revaluation of digital assets, net income of $3.8 million and $5.9 million, basic and diluted earnings per share of $0.03 and $0.05, reduced operating expenses, and concluded a strategic review including asset disposition and acquisition of Simulacra
Revenue growth with $286k and $505k for the three and six months ended March 31, 2024.
Gain on revaluation of digital assets - cryptocurrencies of $4.0 million and $6.6 million for the three and six months ended March 31, 2024.
Net income of $3.8 million and $5.9 million for the three and six months ended March 31, 2024.
Basic and diluted earnings per share of $0.03 and $0.05, respectively, for the three and six months ended March 31, 2024.
Reduction of operating expenses by 55% compared to the previous year, and 25% reduction in the six-month period.
Conclusion of strategic review with asset disposition, exchange move, and acquisition of Simulacra
Revenue decline compared to the same periods in 2023.
Potential risk associated with asset disposition and acquisition of new company.
Reliance on crypto inventory retention without selling in 2024.
Q2-2024 Financial and Operating Highlights
-
Revenue of
$286 k$505 k$303 k$455 k -
$4.0 million $6.6 million -
117% increase in the value of digital assets - cryptocurrencies to$12.6 million -
Net income of
$3.8 million $5.9 million -
Basic and diluted earnings per share of
$0.03 $0.05 -
55% reduction of operating expenses compared to the same quarter the prior year to$480 k$1.1 million -
25% reduction of operating expenses compared to the same 6-month period the prior year, from$1.8 million $1.3 million
Conclusion of Strategic Review
On April 18th, 2024, Tokens.com’s management and board concluded its strategic review. Highlights include:
-
The Company’s key domain, Tokens.com, was placed for sale in January 2024 with an ask price of
$8 million -
The disposition of the assets of Metaverse Group and Hulk Labs to StoryFire Inc., on March 1, 2024, in exchange for a
15.3% equity interest in StoryFire Inc., and$500,000 - A move from the CBOE Exchange to the TSX Venture Exchange, effective on March 28, 2024; and
- The acquisition of Simulacra Corporation (“Simulacra”) on April 8, 2024. Simulacra operates three subsidiaries focused on the integration of AI and high quality, humanoid robots.
“In 2024, Tokens.com underwent substantial changes in the interest of enhancing shareholder value. Our focus going forward will be to grow our presence in the AI-enabled humanoid robot market. Our crypto inventory will be retained as required - thus far, we have not sold any of our crypto in 2024,” said Andrew Kiguel, CEO of Tokens.com. “We are excited about the changes and are planning a rebrand and relaunch strategy to better reflect what we do in the coming weeks. Our goal is to get in front of as many investors as possible once in the coming months,” 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.sedarplus.ca).
An investor call has been scheduled to discuss the Company’s Q2-2024 financial results, hosted by CEO Andrew Kiguel, starting at 4:00 pm ET on May 9, 2024.
Conference Call Details:
Date: May 9th, 2024
Time: 4:00 pm ET
Zoom Webinar Registration:
https://us06web.zoom.us/webinar/register/WN__H9ESWIYQUSUbhOVTir7sQ
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 company focused on building ultra-realistic humanoid robotics and companionship based AI. Tokens.com owns
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.sedarplus.ca. 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/20240509724814/en/
Tokens.com Corp.
Andrew Kiguel, CEO
Email: contact@tokens.com
Jennifer Karkula, Head of Communications
Email: contact@tokens.com
Source: Tokens.com Corp.
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