TORONTO, Jan. 17, 2022 /CNW/ - CoinSmart Financial Inc. ("CoinSmart") (NEO: SMRT) (FSE: IIR), a leading Canadian headquartered crypto asset trading platform, today announced record preliminary unaudited monthly revenue in December 2021 of approximately $2.15 million1. This represents a 460% increase compared to December 2020 and was primarily driven by increased trading volume.
December 2021 Highlights:
- Record Monthly Revenue of $2.15MM
- Record Quarterly Revenue of $5.9MM
- Cash Flow Positive
- No debt
CoinSmart CEO Justin Hartzman commented:
"I am extremely proud of what the team has accomplished in 2021. Wrapping up the year with a banner month and quarter is a testament to the long days, weeks and months the team has put in. What's most exciting for me is, we are only getting started. Plans have been laid for accelerated growth and momentum across new and existing business lines. Look out for some exciting new products, geographies and so much more from the CoinSmart team in 2022 and beyond."
From time to time the company may report on any new records it achieves on key performance metrics2.
About CoinSmart
CoinSmart is a leading Canadian-headquartered crypto asset trading platform dedicated to providing customers with an intuitive way for buying and selling digital assets, like Bitcoin and Ethereum. CoinSmart is one of the few crypto asset trading platforms in Canada to be registered as a securities dealer and marketplace with the Ontario Securities Commission. CoinSmart is also one of the first Canadian headquartered trading platforms to have an international presence, accepting customers across 40+ countries at a time when the digital asset industry continues to rapidly expand.
Cautionary Note Regarding Forward-Looking Information and Other Disclosures
This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may","could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this news release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: regulatory approvals. Accordingly, readers should not place undue reliance on the forward-looking information contained in this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.
Financial Outlook
This press release contains a financial outlook within the meaning of applicable Canadian securities laws. The financial outlook has been prepared by management of the Company to provide an outlook for the revenue of CoinSmart during December 2021 and may not be appropriate for any other purpose. The financial outlook has been prepared based on a number of assumptions including the assumptions discussed under the heading "Cautionary Note Regarding Forward-Looking Information and Other Disclosures" above and assumptions with respect to market conditions, pricing, and demand. The actual results of CoinSmart's operations for any period will likely vary from the amounts set forth in these projections and such variations may be material. CoinSmart and its management believe that the financial outlook has been prepared on a reasonable basis. However, because this information is highly subjective and subject to numerous risks, including the risks discussed under the heading "Cautionary Note Regarding Forward-Looking Information and Other Disclosures" above, it should not be relied on as necessarily indicative of future results.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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| 1 | All figures stated above are preliminary, unaudited and subject to final adjustment. |
| 2 | See heading "Financial Outlook". |
SOURCE CoinSmart
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