Neptune Digital Assets Announces the Release of Q1 Financial Statements For the Period Ended November 30, 2022

Vancouver, British Columbia–(March 29, 2023) – Neptune Digital Assets Corp. (TSXV: NDA) (OTC Pink: NPPTF) (FSE: 1NW) (“Neptune” or the “Company“), one of the first publicly traded blockchain companies in Canada, is pleased to announce that it has released its November 30, 2022 quarterly consolidated financial statements and management, discussion and analysis for the three months ending November 30, 2022.

Below are a number of financial highlights pertaining to the first quarter ending November 30, 2022 and for the period subsequent to year end up to the date of this news release.

  • Neptune ended the quarter on November 30, 2022 with $35 million in assets and no debt.
  • Neptune earned total revenues and other income of $1.09 million through Bitcoin mining, staking, DeFi and other income-generating activities during the three-month period ended November 30, 2022.
  • Neptune mined $580,343 worth of Bitcoin up to November 30, 2022. As of the date of this release, Neptune had a total balance of 237 Bitcoin in cold storage and an additional 64 Bitcoin under chapter 11 claims with Genesis and Celsius, with the outcome of those claims currently unknown. Neptune currently does not sell its Bitcoin and all Bitcoin is now stored in cold storage.
  • Neptune’s two largest digital asset holdings as of the date of this release are 237 BTC and 175,000 ATOM. The Company also holds positions in ETH, FTM, wMemo, DASH, Lif3, Tomb and a number of other tokens, as well as an investment in SpaceX valued at approximately $2 million USD.
  • Current cash balance is $12 million CAD held with a tier 1 Canadian bank and another $4 million USD under Chapter 11 claim with Genesis Lending with the outcome currently unknown.
  • Neptune has now filed all financial reporting requirements in order to be compliant and will apply immediately for the cease trade order to be lifted and for trading to resume.

“Neptune has now filed our three months ended November 30, 2022 Q1 financials and expects regular trading to resume in the coming days. We will update our shareholders as that date approaches and we thank everyone for their patience through this challenging regulatory environment. Business operations continued as usual during the downtime and we look forward to positive growth ahead,” stated Cale Moodie, Neptune CEO.

Given the Company has now filed its unaudited interim financial statements, management discussion and analysis and certifications for the three months ended November 30, 2022 the Company expects the cease trade order issued by the British Columbia Securities Commission will be revoked shortly.

Operating and Financial Overview
($CAD)
For the year endedNovember 30, 2022November 30, 2021
Mining revenue580,343293,794
DeFi revenue10,977416,890
Direct Mining expenses (not incl depreciation)(402,812)
Other income*510,705996,362
Total earnings 699,213 1,707,046
Depreciation**129,636159,818
Stock based compensation**443,069184,214
General expenses1,014,330(150,724)
Impairments *****(183,168)
Realized gain (loss) on settlements and sales945,221(67,005)
Revaluation of digital currencies***(693,503)2,351,271
Unrealized gain (loss) related to lending activities and investments(232,718)4,935,551
Comprehensive income (loss) for the year (1,051,990) 8,733,555
Financial Position
($CAD)
As atNovember 30, 2022August 31, 2022
Cash and receivables19,066,90822,591,137
Total digital assets8,155,6544,196,888
Total other assets7,731,5659,254,319
Total liabilities411,491890,787
Total shareholders equity 34,542,636 35,151,557
Working capital****22,128,79925,746,557
* All non-Bitcoin mining and non-DeFi revenue generating activities
** Non-cash items, including depreciation of mining rigs
*** Revaluation is calculated as the change in value (gain or loss) on the coin inventory. When coins are sold, the net difference between the proceeds and the carrying value of the digital currency (including the revaluation), is recorded as a gain (loss) on the sale of digital currencies
**** Current assets less current liabilities

 

About Neptune Digital Assets Corp.

Neptune Digital Assets Corp. is one of the first publicly traded blockchain companies in Canada and is a cryptocurrency and blockchain infrastructure leader with operations across the digital asset ecosystem including Bitcoin mining, proof-of-stake mining, blockchain nodes, decentralized finance (DeFi), and other associated blockchain technologies.

ON BEHALF OF THE BOARD

Cale Moodie, President and CEO
Neptune Digital Assets Corp.
1-800-545-0941
www.neptunedigitalassets.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX ‎Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.‎

Forward-Looking Statements

This release contains certain “forward-looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans”, “proposes” or similar terminology. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the auditors completing the remining auditing items with respect to the Annual Filings; the inherent risks involved in the cryptocurrency and general securities markets; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties.

The Company does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.


 

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Disclaimer
All transactions are carried out by The SiLLC Assembly, a private portfolio management assembly. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to provide general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions, and beliefs of SiLLC and/or its members. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to SiLLC’s advisory activities relate to The SiLLC Assembly International.

X4A Networks, a project of The SiLLC Assembly, expands its support for Bitcoin with multiple Full Nodes

[Sarasota, Florida, May 19, 2023] — X4A Networks, a project of The SiLLC Assembly, recognizes the importance of Bitcoin Full Nodes in maintaining the stability and security of the Bitcoin blockchain. As the number of transactions on the Bitcoin network continues to grow, the need for Full Nodes becomes increasingly critical.

Recently, the Bitcoin blockchain experienced a rare chainsplit, which caused FUD and ridicule in the crypto market. Critics blamed the congestion of the Bitcoin network, partly due to the explosion of BRC-20 tokens, for the mishap.

Bitcoin Full Nodes like https://btc.x4a.net are essential for the survival of the blockchain, and financial support through donations has become crucial for Full Node operators. They play a crucial role in validating transactions and upholding the consensus rules of the network, making sure everyone is on the same page and no one is trying any funny business.

X4A Networks is committed to supporting the Bitcoin network and has set up several Full Nodes to ensure its stability and security. It is time for the crypto community to recognize the importance of Full Nodes and support them financially. With more Full Nodes, the Bitcoin network becomes stronger and more decentralized, protecting it from any hackers or bad actors.

Join X4A Networks in supporting Bitcoin Full Nodes and ensuring the future of the Bitcoin blockchain. Visit https://btc.x4a.net to learn more and donate to keep the Bitcoin network safe and secure for all.

In a recent interview, Rubinho Gonzales, Technical Advisor for X4A Networks, stated that as the number of transactions on the Bitcoin network continues to grow rapidly, it is crucial to consider the future importance of having more Bitcoin Full Nodes in operation.

For those who are familiar with blockchain technology, it is known that every transaction is added to a block, and once the block is full, it is appended to the chain. With an exponential increase in transactions expected as more individuals join the world of cryptocurrency, there will be a need for more Full Nodes to maintain the efficiency of the network.

Furthermore, Bitcoin Full Nodes are not just for storing and validating transactions. They also play a vital role in upholding the consensus rules of the network, ensuring that all participants adhere to the same guidelines and preventing fraudulent activities. The more Full Nodes available, the stronger and more decentralized the blockchain becomes, safeguarding it from potential hackers or malicious actors.

Looking ahead, it is essential to support and encourage the growth of Bitcoin Full Nodes. As the cryptocurrency and blockchain sectors continue to expand, it is crucial to ensure that there are enough Full Nodes to maintain a smooth and stable network. This goal can be achieved with the combined efforts of the community.

The SiLLC Assembly is taking the initiative to establish a robust full node network around the world, and we are actively seeking supporters who share our vision. We believe that a strong and decentralized network of full nodes is critical to maintaining the stability and security of the blockchain.

As a leader in the blockchain industry, we are committed to ensuring that the Bitcoin network remains secure, reliable, and accessible to all. We are proactively searching for sponsors who are willing to support our mission by becoming full node sponsors. By donating to our cause, you can help us establish a giant full node network that will provide unparalleled support to the blockchain.

We invite you to join us in this critical mission to protect and strengthen the Bitcoin network. Your support will help us create a more secure and decentralized blockchain that will benefit everyone in the crypto community. If you would like to become a full node sponsor, please contact us at [insert contact information]. Together, we can build a better future for the blockchain.

For more information about X4A Networks and our support for the Bitcoin Network, please visit our website at https://x4a.net.

Technical Information:
X4A Networks Full Nodes are running the latest version of the Bitcoin Core software and are hosted on dedicated servers with high-speed internet connections. Each Full Node has been configured to support the network by verifying transactions, maintaining a copy of the blockchain, and broadcasting new transactions and blocks to the network. Our Full Nodes are regularly monitored and maintained to ensure optimal performance and security.

About The SiLLC Assembly (TSA)
SiLLC is in the business of creating and managing a large and diverse network of companies in AR, blockchain, digital assets, eCommerce, internet, metaverse, Retrotech, technology, and VR worldwide. SiLLC continues to capitalize on the numerous opportunities presented by emerging new mediums. SiLLC focuses on constructing a network of companies in advertising/marketing, AR, blockchain, content and community, eCommerce, energy, metaverse, Retrotech, robotics, technology, VR, and enabling technologies. With deep and broad management expertise, a tightly targeted strategic focus, an unparalleled track record, and a unique and successful investment model that demands and drives growth, SiLLC can truly claim to be creating .net value.

For more information, please visit https://www.sillc.net .

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Mirrors:
https://www.openpr.com/news/3059027/x4a-networks-a-project-of-the-sillc-assembly-expands-its

 

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Disclaimer
All transactions are carried out by SiLLC, a private portfolio management assembly. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to provide general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions, and beliefs of SiLLC and/or its members. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to SiLLC’s advisory activities relate to The SiLLC Assembly International.


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