TORONTO, 1 September 2022 / PRNewswire / – Liquid Meta Capital Holdings Ltd. (“Liquid meta“or the”Agency“) (NEO: LIQD) (FRANKFURT: N5F) (OTCQB: LIQQF) a decentralized financial technology and infrastructure company focused on bridging the gap between traditional and decentralized finance, today announced its financial results for the twelve months ending May 31, 2022.
All dollar figures are in US Dollars (“USD”) unless otherwise indicated.
Quarterly and full year financial aspects
- Achievement of full year gross revenue (reward token and trading fees) of $ 2,429,047 and quarterly gross revenue (reward token and trading fees) of $ 932,896
- Achieved quarterly net revenue of $ 496,296 taking into account any volatile asset exposure and market hedging activity that allowed Liquid Meta to preserve its treasury during major global and cryptocurrency market volatility since November 2021
- As of May 31, 2022, total assets of approximately $ 22.0 million (CAD $ 27.8 million) or $ 0.41 (CAD $ 0.52) per share and no debt
- During the time period from January 1, 2022 to the end of the fiscal year May 31, 2022, total net worth decreased by only 4.3% while the prices of Bitcoin, Etherium and a basket of layer one tokens fell by 33.5%, 46% and 77%, respectively.
Operational aspects for the whole year
- Completion of the company’s public listing raised gross proceeds of $ 22.2 million and began trading on the NEO stock exchange in Canada at the end of December 2021
- Partnering with XLD Finance to provide liquidity within the XLD ecosystem which allows users to spend their rewards to earn in real world applications and convert between fiat and crypto assets
- Collaboration with Civic Technologies to expand Liquid Meta’s capabilities by implementing standards such as KYC and KYB within authorized DeFi applications and protocols
- It received DTC eligibility in May 2022 and began trading on OTCQB in July 2022
- It began trading in Europe on the Frankfurt Stock Exchange in the third quarter of 2022
- Key members added to the team: Clara Bullrich on our Board of Directors and Daniel Opperman as Chief Technology Officer
- No material exposure or losses resulting from the collapse of the UST stablecoin and related projects in the Earth ecosystem
- Assets successfully recovered related to the Ronin Network security breach and no losses corresponding to Liquid Meta
- Average cash distributed of $ 19.6 million in the fourth quarter. Due to market volatility, we held an average of 10% of our balance sheet in cash throughout the quarter.
- Cash-mining operations covered 7 different blockchains, 26 Dapps and 41 liquidity pools in the fourth quarter using a variety of market neutral strategies.
“The fourth quarter was Liquid Meta’s first full quarter as a publicly traded company. Despite the very challenging market environment in the global equity and crypto markets in 2022, I am delighted to have successfully navigated the market producing excellent financial results and preserving Our asset base. During our fourth quarter, crypto assets such as Bitcoin, Ethereum and a basket of tier one tokens used in our liquidity mining operations decreased by 29%, 32% and 71%, respectively. failure of the algorithmic stable currency UST and its sister token LUNA destroyed more than $ 50 billion market capitalization from the overall cryptocurrency markets by the end of May. The collapse of UST caused a significant deleveraging cycle across the country. industry that has led to many bankruptcies, lower DeFi returns and a general crisis of confidence Liquid Meta is st structured to operate in all market environments and its business model has been continuously stress tested. I am pleased with the company’s ability to not only alter the intense market volatility within cryptocurrencies and conditions. and general macro markets, but also its ability to generate respectable net income and returns during this period, “commented Jonathan Wiesblatt, CEO of Liquid Meta.
Mr. Wiesblatt continued“Liquid Meta’s mission is to bridge the gap between traditional finance and decentralized finance. One of the positive aspects of crypto credit problems has been the solid performance of decentralized lending protocols under the immense stress of liquidations and market volatility. Open and accessible protocols – such as Aave and Compound – have been prioritized in terms of debt repayment thanks to their building of smart contracts. This systemic stress test is clear evidence of the promise of an open and more transparent financial infrastructure and encourages us further to continue building “.
“We also continue to build our DeFi technology platform to facilitate institutional-level access to the world of decentralized finance and cryptocurrency returns. Our plans to introduce new technologies and a platform are on schedule and we continue to use the components of these tools on a daily basis for our liquidity-mining business. The tools we have developed have helped us accurately measure market risks and reduce our exposure to deep downturns in the DeFi sector. We believe DeFi does not must be risky or complicated. This is why we are building a safe platform for institutional investors to access the benefits of DeFi and cryptocurrency returns easily and securely. This is a very exciting time to be a builder in a new emerging market. “.
Budget and MD&A
Liquid Meta’s financial statements for the quarter ending May 31, 2022 and the Management’s Discussion and Analysis (“MD&A”) for the three and twelve months ending May 31, 2022 are available on SEDAR at www.sedar.com .
About Liquid Meta
Liquid Meta is a decentralized financial infrastructure and technology company that is powering the next generation of open access protocols and applications. The Company is bridging traditional and decentralized finance, ushering in a new era of financial infrastructure for the benefit of everyone, everywhere. To find out more visit the Site | LinkedIn | Twitter
Neo Exchange has not reviewed or approved this press release for the adequacy or accuracy of its content.
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) for the purposes of applicable Canadian securities law. All statements, other than statements of historical facts, are forward-looking statements and are based on expectations, estimates and projections as of the date of this press release. Any statement that involves discussion of predictions, expectations, beliefs, plans, projections, goals, assumptions, future events or performance (often but not always using phrases such as “expects” or “does not expect”, “is expected”, ” anticipates “or” does not foresee “,” plans “,” budget “,” planned “,” forecast “,” estimate “,” believes “or” intends “or variations of such words and phrases or by stating that certain actions, events or results “could” or “could”, “would”, “could” or “will be” considered to have happened or achieved) are not statements of historical facts and may be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and others. factors that could cause Liquid Meta’s actual results, performance or results to be materially different from any future results, performance or results expressed or implied in the forward-looking statements. Factors that could cause actual results to differ materially from those projected in these forward-looking statements are described in the caption “Risks and Uncertainties” in the Company’s Filing Statement dated December 17, 2021, available for viewing on SEDAR at www. sedar.com. The forward-looking statements contained herein are made as of the date of this press release and Liquid Meta disclaims any liability, other than as required by law, any obligation to update any forward-looking statement whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There is no guarantee that forward-looking statements will prove accurate, as actual results and future events could differ materially from those projected 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 disease outbreak caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on the operations and ability of others to fulfill their obligations, including uncertainties relating to the definitive geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the duration of the trip and the quarantine restrictions imposed by the governments of the affected countries. Furthermore, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could negatively impact 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 more information:
Jonathan Wiesblatt, President, CEOLiquid Meta Investor Relations[email protected][email protected]
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SOURCE Liquid Meta Capital Holdings Ltd