VANCOUVER, British Columbia, Nov. 29, 2023 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. ("BIGG" or the "Company")(CSE: BIGG; OTCQX: BBKCF; WKN: A2PS9W), owner of Netcoins (https://www.netcoins.com/ca/ and Netcoins USA https://www.netcoins.com/us/) (“Netcoins”), the online cryptocurrency brokerage that makes it easy for North Americans to buy, sell and stake cryptocurrency, Blockchain Intelligence Group (blockchaingroup.io) (“BIG”), a leading developer of blockchain technology search, risk-scoring and data analytics solutions, and TerraZero Technologies Inc. a leading metaverse technology company with clients including Fidelity International, Warner Records, and Molson Coors, is pleased to report Q3 2023 financial results. All figures are in Canadian Dollars (CAD) unless otherwise stated.
Q3 2023 Highlights:
- Gross operating revenue of $1.44M, with $1.05M for Netcoins and $0.39M for Blockchain Intelligence Group
- Netcoins USA is operational in 17 states in the US with Money Transmitter License (MTL) application in process
- Netcoins’ active users totalled 7,905, a 4% increase over the prior quarter and 11% decrease from the same period of the prior year
- Blockchain Intelligence Group added new customers in the areas of finance, investigation and law enforcement
- Blockchain Intelligence Group continued to add support for its existing services with 15 major service improvements and more
- Cash and crypto in treasury of $13.8M at September 30, 2023; no debt
Highlights Subsequent to September 30, 2023:
- Netcoins currently has customer Assets Under Custody of ~$63M (an increase of 3.58% over Q2)
- Netcoins registered users have reached over 210,000
- Blockchain Intelligence Group expands its Global Reach with Spanish Language Integration in its Cryptocurrency Investigation and Compliance Suite
- BIGG announced the closing of a definitive amalgamation agreement to acquire 100% of TerraZero.
- TerraZero’s initial beta test of Intraverse PRO has successfully deployed with Warner Records and the artist Teddy Swims.
- TerraZero’s beta launch of the Intraverse platform is planned for Q1 of 2024.
Dan Reitzik, BIGG Interim CEO commented, “While we are satisfied with Q3 results, we are certainly excited about the recent upswing in crypto trading volumes, prices, and activity for the future growth of Netcoins and Blockchain Intelligence Group. The closing of the acquisition of TerraZero positions an opportunity for all three companies to work better together. With TerraZero's Intraverse helping enterprise, SMBs, artists and creators deploy ready-to-go virtual environments, complete with ecommerce via fiat/credit cards for virtual and physical goods, the next step is to create opportunities where digital assets are purchased using Netcoins and secured with KYC/AML via Blockchain Intelligence Group. My goal with BIGG is to offer choice and versatility for all going forward, utilizing the unique products and services offered by Netcoins, Blockchain Intelligence, and TerraZero. This will enable the next iteration of today’s Internet, one where we do more than simply consume content--we experience it."
Selected financial and operating information should be read in conjunction with BIGG's unaudited condensed consolidated interim financial statements and related Management's Discussion and Analysis for the nine months ended September 30, 2023, available at www.sedarplus.ca.
All financial information in this press release is prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board.
On behalf of the Board
Dan Reitzik
Interim CEO
ir@biggdigitalassets.com
About BIGG Digital Assets Inc.
BIGG Digital Assets Inc. (BIGG) believes the future of crypto is a safe, compliant, and regulated environment. BIGG invests in products and companies to support this vision. BIGG has three portfolio companies: Netcoins (netcoins.com), Blockchain Intelligence Group (blockchaingroup.io), and TerraZero (terrazero.com).
Blockchain Intelligence Group is an industry leading digital asset forensics, anti-money laundering detection, and cryptocurrency investigations company. At the heart of our operations is a deep-rooted expertise in visualizing digital assets and market related activities. This expertise is leveraged to monitor transactional data with a constant eye to assisting our customers with risk management, due diligence, and forensic services for digital assets.
Netcoins offers safe and secure crypto trading in Canada and the USA, with a mission to make cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins has a robust product offering with Crypto Trading (US and CA), Netcoins Pay (CA) and Netcoins Staking (CA). Netcoins utilizes BitRank Verified® software at the heart of its platform and facilitates crypto trading via its cutting-edge Mobile and Web applications. For more information please visit our website www.netcoins.com.
TerraZero Technologies Inc. is a vertically integrated Metaverse development group and leading Web3 technology company specializing in helping brands create immersive experiences. TerraZero’s Metaverse-agnostic vision is to develop and implement products and services with scalable commercial applications to flourish engagement across gamified experiences where enterprise-level businesses, metaverse platforms, and Web3 creators can seamlessly bridge and actionably grow their virtual world and the physical world endeavors together as one. TerraZero owns digital real estate for brands to establish presence in existing virtual worlds and can also offer brands their own private worlds to provide offices and services to those interested in the metaverse. Furthermore, TerraZero acquires, designs, builds, and operates virtual assets and solutions to monetize the metaverse ecosystem. TerraZero’s businesses are segmented into five (5) divisions which include: (1) immersive experience creation in existing or private virtual worlds; (2) advertising; (3) data analytics; (4) events and marketing; and (5) development of the Intraverse. TerraZero aims to support the community, foster innovation, and drive adoption. For more information, please visit https://terrazero.com/ or contact hello@terrazero.com.
For more information and to register for BIGG’s mailing list, please visit our website at https://www.biggdigitalassets.com. Or visit SEDAR+ at www.sedarplus.ca.
Future operating results could also be materially affected by the price of cryptocurrency and the demand (or lack thereof) for cryptocurrency. In addition, BIGG’s past financial performance may not be a reliable indicator of future performance.
Forward-Looking Statements:
Certain statements in this release are forward-looking statements, which include the expected opportunities, outcomes, potential and benefits of the Company’s products and services, the expected adoption and growth of cryptocurrency and the Company’s products and services, the development and completion of products and services, the launch of products and services and the expected timelines (including Intraverse), events, plans, courses of action, and the potential of the Company’s technology and operations and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, the ability to manage operating expenses, which may adversely affect the Company’s financial condition, the ability to remain competitive as other better financed competitors develop and release competitive products, volatility in the trading price of the common shares of the Company, the demand and pricing of cryptocurrency, the Company’s ability to successfully define, design and release new products in a timely manner that meet customers' needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; and other factors, many of which are beyond the control of BIGG. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because BIGG can give no assurance that they will prove to be correct. The securities of BIGG are considered highly speculative due to the nature of BIGG’s business. For further information concerning these and other risks and uncertainties, refer to the Company’s website and filings on www.sedarplus.ca. In addition, BIGG’s past financial performance may not be a reliable indicator of future performance.
Important factors that could cause actual results to differ materially from BIGG’s expectations include consumer sentiment towards BIGG’s products and Cryptocurrency and Blockchain technology generally, technology failures, the lack of demand for the company’s products and services, fluctuations in the price of cryptocurrency, the ability to successfully define, design, and release new products in a timely manner that meet customers’ needs; the ability to attract, retain, and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel; competition; the demand and pricing of cryptocurrencies and NFTs (including digital assets); litigation; security threats, including a loss/theft of NFTs, cryptocurrencies, and other assets; and failure of counterparties to perform their contractual obligations.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BIGG disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BIGG undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
The CSE does not accept responsibility for the adequacy or accuracy of the content of this Press Release.
