Compared to the previous period, the Company enhanced its technology business by 239% and 203% for the three and six months ending
The Company reported a net income of $922,343 and $685,168 for the three and six months ending
Three Months Highlights
- The total revenues generated for the three months ending
June 30, 2023 , and 2022 were$1,765,149 and$1,525,849 , an increase of 16% from the previous period. - The technology revenues generated for the three months ending
June 30, 2023 , and 2022 were$301,315 and$89,000 , an increase of 239% from the previous period. - The gross margin generated for the three months ending
June 30, 2023 , and 2022 were$442,657 and$155,121 , an increase of 185% from the previous period. - During the three months ending
June 30, 2023 , and 2022, the Company reported a net income and a net loss of$922,343 and$381,474 , an increase of 342% from the previous period. The increase was mainly due to a gain on the bargain purchase price ofAlchemy Markets Ltd. (Alchemy Markets, previously known asNSFX Ltd. )
Six Months Highlights
- The total revenues generated for the six months ending
June 30, 2023 , and 2022 were$3,310,836 and$3,066,971 , an increase of 8% from the previous period. - The technology revenues generated for the six months ending
June 30, 2023 , and 2022 were$474,565 and$156,500 , an increase of 203% from the previous period. - The gross margin generated for the six months ending
June 30, 2023 , and 2022 were$739,198 and$320,793 , an increase of 130% from the previous period. - During the six months ending
June 30, 2023 , and 2022, the Company reported a net income and a net loss of$685,168 and$785,417 , an increase of 187% from the previous period. The increase was mainly due to a gain on the bargain purchase price of Alchemy Markets. - The cash on hand was
$127,057 as ofJune 30, 2023 , compared to$264,829 onDecember 31, 2022 .
This Company maintains its wealth management revenue while increasing the revenue of its technology business. The Company expects to add revenues from Alchemy Markets acquisitions in the next half of the fiscal year ending
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Alchemy Markets (the "Company") is a limited liability company registered under the Companies Act, Cap — 386 of the Laws of
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This press release's statements may be forward-looking statements or future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third party. Therefore, in no case will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.
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