As at
- The total value of the Ether held by the Company was
$6.3 million - The total assets of the Company were
$9.6 million - The Company had an accumulated deficit of
$36.4 million , the majority of which represents a non-cash unrealized loss on the value of Ether - The Company recorded net income of
$0.01 per share for the quarter endedMarch 31, 2020
As at
The global pandemic involving the novel coronavirus, COVID-19, has caused companies and various governments to take measures and impose restrictions, such as quarantines, closures, cancellations and travel restrictions, to combat the coronavirus. The effects of COVID-19 and such measures and restrictions have negatively affected asset values and increased volatility in the financial markets, including the market price and volatility of Ether and other crypto-assets. There are meaningful direct and indirect effects developing and the Company will continue to monitor the impact of the outbreak on its business. Realizable values of assets, liquidity and financial condition may be materially affected as a result of this outbreak.
For condensed consolidated interim financial statements for the quarter ended
The Company’s condensed consolidated interim financial statements, along with the accompanying management’s discussion and analysis have been filed on the System for Electronic Document Analysis and Retrieval (“SEDAR”) and may be viewed under the Company’s profile at www.sedar.com.
About
Further Information
For further information concerning this press release, please contact:
Chief Executive Officer 1-416-583-5541 http://ethcap.co/ | President and Chief Financial Officer 1-416-583-5541 http://ethcap.co/ |
This press release is not an offer of securities for sale in
Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements in regard to the Ethereum platform and protocol, the impact of COVID-19 pandemic and the response to it on the Company and its business and assets, the market for crypto-assets, the potential for mainstream adoption of the Ethereum ecosystem, and the Company’s business, plans and strategy. The Company cautions the reader not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. Generally, but not always, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “does not anticipate”, “believes”, and similar expressions or state that certain actions, events or results “may”, “could”, “would”, “should”, “might”, or “will” be taken, occur or be achieved.
Forward-looking statements are based on information available to management at the time they are made, management’s current plans, estimates, assumptions, judgments and expectations. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: general business, economic, competitive, geopolitical, technological and social uncertainties; uncertainties in regard to the development and acceptance of blockchain technology, and the Ethereum platform and anticipated timing and impact of the Ethereum network upgrade, the impact of the outbreak of the COVID-19 coronavirus on the Company, and the other risk factors discussed in the Company’s Annual Information Form dated
Source:
2020 GlobeNewswire, Inc., source