VANCOUVER, British Columbia, July 31, 2019 (GLOBE NEWSWIRE) -- Neptune Dash Technologies Corp. (“Neptune Dash” or the “Company”) (TSX.V:DASH) (OTC:NPPTF) (FWB:1NW) is pleased to provide a corporate update.
Corporate Strategy
Neptune Dash is pleased to announce an update to its existing corporate strategy. The Company believes it will drive an increase in revenue per share while providing greater security through diversification of crypto holdings. The Company has previously launched node infrastructure for the Cosmos network, called a Cosmos Validator, and it gained enough support from the community to put it in the 63rd spot on the exclusive list of 100 Cosmos validators.
Neptune Dash continues to increase its expertise in building and maintaining blockchain nodes and will now capitalize on that expertise in other cryptocurrency networks. The Company plans to expand on this strategy to add additional top market proof-of-stake tokens which earn revenue through nodes or masternodes. Going forward the Company will, over the course of 12-18 months, expand ATOM holdings, the cryptocurrency token for the Cosmos Network, as well as a number of additional cryptocurrencies that generate revenue from maintaining nodes or those that the Company foresees as lucrative due to increased adoption.
“We recently made the decision to shift from focusing on node infrastructure of a single cryptocurrency to methodically and strategically moving to a diversified portfolio of mostly revenue generating cryptocurrency tokens. We believe in order to maximize revenue while protecting investors from single cryptocurrency fluctuation risk, this is the best strategy for the Company," stated Cale Moodie, Neptune Dash CEO. "Shareholders will now have exposure to a diversified portfolio of revenue-generating nodes in addition to tokens such as DASH, ATOM, Bitcoin, Ethereum, Litecoin, Stellar, NEO, Omisego, and QTUM. As always, we remain committed to adding crypto assets to our balance sheet through our DASH Masternode and Cosmos Validator revenues, all while keeping our operating costs as low as possible and without diluting shareholders.”
Corporate Highlights
The Company has purchased 120,891 ATOM and self-delegated them to its Cosmos Validator; this is in addition to over 276,000 ATOM delegated by third parties for a total of 397,826. Neptune Dash will earn 10% commission of the rewards from any ATOM delegated to it, in addition to the approximately 15% per year on self-delegated ATOM. The Company’s goal is to attract additional delegators from the $1.2 billion CAD Cosmos Network and rapidly increase this revenue stream in addition to the revenue being earned on self-delegations.
The Company recently released Financial Statements and MDA for the third quarter ended May 31, 2019. Highlights of these reports are as follows:
- $2.35M recovery in crypto currency value in the three months ended May 31, 2019.
- Earnings of $0.03 per share for the three months ended May 31, 2019 versus a loss of $0.10 per share for the comparative period in prior year.
- Substantial reduction in cash spent on operations, $450k for the nine months ended versus $1.23M for the comparative period in prior year.
- 940 DASH earned during the nine months ended May 31, 2019 from Masternode operations.
Please see the Company’s financial statements and MDA for further details at either www.SEDAR.com or www.neptunedash.com
About Neptune Dash Technologies Corp.
Neptune Dash primarily builds and operates Masternodes and invests in Node technologies. The Company also has a diversified cryptocurrency portfolio through investments made in Proof-of-Stake tokens and their associated blockchain technologies.
For further information please contact:
Neptune Dash Technologies Corp.
Cale Moodie, President and CEO
Phone: (604) 319-6955
Email: info@neptunedash.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” or similar terminology. Forward-looking statements and information include, but are not limited to, the continued success of the Company’s pooling service and anticipated revenues from such services; the value of the Company’s digital currency inventory; the business goals and objectives of the Company, and information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon. 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 here in, including but not limited to: the inherent risks involved in the cryptocurrency and general securities markets; the Company’s ability to successfully mine digital currency; revenue of the Company may not increase as currently anticipated, or at all; 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 undertakes no 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.