VANCOUVER, British Columbia, Jan. 22, 2021 (GLOBE NEWSWIRE) -- Neptune Digital Assets Corp. (TSX-V:DASH) (OTC:NPPTF) (FSE:1NW) (“Neptune” or the "Company") is pleased to announce that it will be releasing its November 30, 2020 financial statements and management discussion and analysis next week.
Below are a number of financial highlights pertaining to the three months ended November 30, 2020 and for the period subsequent to period and up to the date of this news release.
- The Company has achieved a positive net comprehensive income of $246,810 for the three months ended November 30, 2020.
- Neptune had an 8% growth in total assets as of November 30, 2020 over August 31, 2020 and expects this to continue into Q2.
- The Company’s cost cutting measures lowered cash costs from operations for the period by 31% over the same period in the prior year to $74,000.
- The Company has zero debt at the period end and as of the date of this News Release.
- The Company raised $300,000 subsequent to November 30 and those funds are being used to purchase a variety of crypto currencies.
- The Company had 70 BTC loaned to Genesis Trading subsequent to period end, providing a consistent income stream of BTC for re-investment.
- The Company’s three largest digital asset holdings as of the date of this release are 77 BTC, 139,530 ATOM, 2,006 DASH and 155 ETH. The Company also holds positions in BCH, Litecoin, Stellar, NEO, OMG, QTUM, FTM as well as the investment in the Protocol Crypto Fund and cash for strategic crypto currency purchases and operations.
- The Company continues to purchase crypto daily in order to dollar cost average and is always optimizing its crypto portfolio in order to maximize growth for shareholders.
“We are pleased to present another successful quarter and have seen great performance in the sector subsequent to November 30, 2020. We continue to watch the crypto markets carefully in order to optimize our buying and staking regime,” stated Cale Moodie, Neptune CEO.
The Company also announces the grant of 6,000,000 stock options to directors and officers at a price of $0.20 pursuant to the Company’s share compensation plan.
About Neptune Digital Assets Corp.
The Company has a diversified cryptocurrency portfolio with investments made in top market cap tokens, proof-of-stake cryptocurrencies, decentralized finance and associated blockchain technologies.
ON BEHALF OF THE BOARD
Cale Moodie, President and CEO
Neptune Digital Assets Corp.
This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans”, “proposes” or similar terminology. Forward-looking statements and information include, but are not limited to, the future prices of crypto currency and their likelihood of staying constant or climbing higher; the Company’s future earnings and operating costs; the Company’s future growth in total assets; the Company’s strategy to purchase crypto currency and optimize its crypto portfolio; the Company’s ability effectively dollar cost average its purchases of crypto currency; and the future outlook of the crypto currency market generally. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the inherent risks involved in the cryptocurrency and general securities markets; the Company’s ability to successfully mine digital currency; revenue of the Company may not increase as currently anticipated, or at all; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties. The Company does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.