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AveragePennyon Nov 03, 2021 12:00pm
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ISW Holdings Reports Financial and Operational Highlights
ISW Holdings Reports Financial and Operational Highlights Financial Highlights for Three and Nine Months Ended Sept. 30, 2021
- Revenues from operations for the three months ended Sept. 30 of $1.075 million (including deferred revenues), up 2,435% on a year-over-year basis.
- Net revenues (excluding deferred revenues) for the three months ended Sept. 30 grew 579% on a year-over-year basis.
- Net revenues (excluding deferred revenues) for the nine months ended Sept. 30 grew 185% on a year-over-year basis.
- Net cash increased by over 3,100% year to date to over $2.8 million.
- Total assets increased 5,263% year to date to $9.56 million.
- Total liabilities decreased 73%, and total derivative liabilities decreased 98% to under $340,000.
Operational Highlights for Three Months Ended Sept. 30, 2021
- Exceeded internal expectations for cryptocurrency performance in the first quarter of significant mining operations.
- Triggered performance bonus clause for additional $1.7 million in Bitmain Miners from Minerset.
- Continued to eliminate dilution risk through an aggressive reduction in convertible notes outstanding.
- Reached nearly $10 million in total assets.
- Neared completion of phase 1 (build-out and deployment of first 20 MW) of Southeastern U.S. project to pair 56,000 mining rigs with 200 MW of power.