DigiMax Announces Second Quarter FY2022 Results and Operational Update TORONTO, ON / ACCESSWIRE / September 29, 2021 / DIGIMAX GLOBAL INC (the "
Company" or "
DigiMax")
(CSE:DIGI) is pleased to announced its financial results for the three and six months ended July 31, 2021 ("Q2 2022"). All currency amounts in this press release are in Canadian dollars.
Second Quarter Highlights - (includes non-IFRS/GAAP information): - Unrealized gain on digital currencies for Q2 2022 was $2.65 million (not included in net Income/Loss for the period on IFRS financial statements)
- Net equity in the company grew $17.39 million in Q1 2022 and a further $1.9 million in Q2 2022 as a result
- Revenues for the six months ended July 31, 2021 are lower than anticipated at $47,000 since unrealized digital currency gains are not included in the Net Income/Loss for the period under IFRS but is recognized under Comprehensive Income (Loss)
- Comprehensive Income for the three months end July 31, 2021 is positive at $353,000
- Shares outstanding at the end of Q2 2022 grew to 268,265,013
- The company continues to spend approximately $200,000 per month in development costs and operations support on a go-forward basis after slightly higher development costs earlier in the year for CryptoDivine and CryptoHawk.
Selected Financial Results 
NOTE: Please refer to Financial Statements and MD&A to see full statements prepared according to International Financial Reporting Standards.
The Company's unaudited interim consolidated financial statements as at and for the three and six months ended July 31, 2021, 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 by interested parties under the Corporation's profile at
www.sedar.com or the Company's website at
www.digimaxglobal.com About DigiMax DigiMax is an Artificial Intelligence technology company committed to unlocking the potential of disruptive technologies by providing advanced financial, predictive, and cryptocurrency solutions across various verticals. DigiMax is an official IBM Watson partner, and the Company's engineering team has extensive experience in Machine Learning, Neural Language Processing, AI, Big Data and Cryptocurrency technology.
To learn more, visit our website:
https://digimaxglobal.com/ Contact: David Bhumgara
Chief Financial Officer
416-574-4603
dbhumgara@digimaxglobal.com Chris Carl
President & CEO
416-312-9698
ccarl@digimax-global.com