Neptune Dash Announces Diversification Strategy and Corporate Update
July 31 2019 - 9:00AM
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.
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