Toronto, Ontario--(Newsfile Corp. - August 30, 2021) - Graph Blockchain Inc. (CSE: GBLC) (OTC Pink: REGRF) (FSE: RT5A) ("the Company or Graph ") is pleased to report its financial statements ("FS") and management discussion and analysis ("MD&A") for the year ending April 30, 2021 ("YE 2021"). All currency is in Canadian dollars unless otherwise stated.
The Company's Consolidated FS and MD&A thereon for year ended April 30, 2021, will be accessible on SEDAR at www.sedar.com under Graph's profile
YE 2021 Financial Summary
- The Company reported revenue of $$433,215 in YE 2021 compared to NIL in YE 2020.
- The Company also significantly improved its cash balance, $8,802,843, compared to $105,252 in cash in YE 2020.
- The Company also significantly improved its total assets, $11,751,841, compared to $137,834 in assets in YE 2020.
Path to Profitability: The Company made strong progress throughout the year transforming the Company by identifying revenue opportunities with various sectors of Decentralized Finance ("DeFi"). According to Alex Tapscott of the Financial Post, in the last year the DeFi industry's market capitalization has ballooned 30 times to US$73 billion, while the total value of user deposits (total value locked or TVL) has surged 100 times to nearly US 100 billion.
Paul Haber, CEO of Graph Blockchain, stated, "Despite the challenges of the global pandemic, fiscal 2021 was a year of transition and marked numerous milestones for Graph in building the team, raising funds, and adding global companies to enable us to execute our strategic plan. We see evidence of crypto and blockchain technologies moving significantly closer to mass acceptance. Our product lineup especially, POS mining, non-fungible tokens business, have positioned us to enable a company transformation across global markets."
Fiscal highlights of YE and subsequent events:
- The Company started its transformation in September 2020 with announcement of new management.
- In January 2021, the Company undertook to review M&A opportunities in the crypto currency and blockchain sector.
- In January 2021, the Company announced it entered into a definitive share exchange agreement with Babbage Mining Corp.
- In February 2021, the Company announced that it has closed the previously announced non-brokered private placement financing raising aggregate gross proceeds of $2,316,000.
- In February 2021, the Company announced the completion of the Babbage Mining acquisition, and Graph will be the first publicly tradable altcoin Proof of Stake ("POS") miner, which will generate revenue while providing exposure to several top digital assets by market capitalization.
- In March 2021, the Company announced the first two altcoins purchasing and staking acquiring Cardano ("ADA Token") and Polkadot ("DOT Token") and became the first publicly tradable altcoin Proof of Stake ("POS") miner, generating revenue while providing exposure to several top digital assets by market capitalization.
- In March 2021, the Company announced the closing of CAD$10 million brokered private placement.
- In April 2021, the Company announced a $1,500,000 of its staking capital with $1,000,000 into the Polkadot ("DOT Token") and $500,000 into the Cardano ("ADA Token").
- In May 2021, the Company announced acquisition of Beyond the Moon Inc. a Crypto Launchpads service provider.
- In June 2021, the Company announced listing on the Frankfurt Stock Exchange, the world's thirteenth largest organized exchange trading market by market capitalization, revenue, profitability, and the largest stock exchange in Germany.
- In July 2021, the Company announced acquisition of New World Inc., an augmented reality art-focused non-fungible tokens (NFT) company that allows creators, musicians, and celebrities to create and sell digital art.
- In July 2021, the Company announced that New World Inc., signed several celebrities to its platform including musician Karl Wolf, designer Gianpiero D'Alessandro, and international recording artist Mia Martina to create exclusive non-fungible tokens ("NFTs") on New World Inc. platform.
- In August, the Company announced that New World Inc., has successfully tested 1 million simultaneous users within the app platform.
- On August 25, the Company completed the acquisition of Optimum Coin Analyser.
To recap, in the last couple of quarters Graph's business model accelerated with the successful onboarding of Babbage Mining Corp., a Proof of Stake ("POS") miner, Beyond the Moon Inc. an IDO focused company and New World Inc. with its NFT Platform and hitting many milestones for the company and setting up Graph for the future in Decentralized Finance.
Outlook
The Company remains focused on the expansion of its POS Mining and NFTs businesses in 2021, with the Company expecting to see growth in second half of 2021 with the POS of new altcoins and the signing onto the New World Inc. with its NFT Platform of new creators, musicians, and celebrities.
NFTs have exploded in popularity in 2021, soaring to an impressive $2.5 billion in sales volume in the first half of 2021. While NFTs are undoubtedly experiencing exponential growth, NFTs are still very early on in acceptance and is yet to break into the mainstream with collectors.
The future of Altcoins is bright with the sky-high price of Bitcoin, Altcoins have become a viable investment option. With the scalability in Altcoins or cryptocurrencies is one of the most important features because the more scalability in these cryptocurrencies, the higher the growth rate of that cryptocurrency.
About Graph Blockchain Inc.
Graph Blockchain provides shareholders with exposure to various areas of Decentralized Finance. Focusing on altcoins through its wholly owned subsidiaries Babbage Mining Corp., a Proof of Stake ("POS") miner, and Beyond the Moon Inc., Graph gives investors exposure to the vast emerging market of cryptocurrencies with the significant technological disruption and potential gains altcoins represent. Additional information on the Company is available at www.graphblockchain.com and www.babbagemining.com.