Riding It Out

Touched by Genesis

An Acquisition for the New Year

Where Do We Go From Here?

Joe Gomes

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Financial Services

Capital Markets

Tokens.com

Operating Results&nbsp;
In our comparisons, we will be comparing quarter-over-quarter due to the Company having two new revenue streams that the previous year did not have, leasing and gaming.&nbsp;
Total revenue was $151,848 in the first quarter of the 2023 fiscal year. Staking revenue decreased to $40,175 compared to staking revenue of $53,972 last quarter. This is due to the Company selling coins that have a higher yield but were less risk averse. Metaverse Group Ltd. recorded consulting and lease revenue of $85,000 and $23,210 respectively for the three months ended December 31, 2022 from ($7,500) and $49,871 last quarter. Hulk Labs recorded gaming revenue of $3,463 from $4,892 in the previous quarter.
Operating expenses increased to $718,373 from $980,665 of the last quarter, due to a reduction of professional fees to $245,220 from $470,582 and investor relations to $54,566 from $136,475. Tokens.com reported a loss on disposition of digital assets of $102,323 compared to $269,998 from the previous quarter and recorded a loss on revaluation of digital assets of $1.3 million from a previous gain of $2.8 million last quarter.
Tokens.com recorded a net loss of $1.7 million, or a loss of $0.02 per share, compared to net loss of $1.8 million, or a $0.02 per share loss, in the last quarter. 
 
 Market Upswing
 
The market has been seeing an upswing over the last three months as the total global cryptocurrency&nbsp;market cap has risen to $1.05 trillion on February 15, 2022 from $843.3 billion on November 15, 2022, or an increase of $206.1 billion or 24.4%. Below is a graph of the rise over the last three months from CoinMarketCap.
<img decoding="async" src="https://noblelinx.com/x/research/images/reports/SMURF_20230216_25607-01.jpg" style="width: 631px;height: 215px" />
For Ethereum specifically, as Tokens.com deals mostly with the specific coin, the price of the coin has jumped $459 or 38.1% from $1,206 on November 15, 2022, to $1,665 on February 15, 2022. Positive momentum in the overall cryptocurrency market bodes well for the services provided by Tokens.com and its assets, in our view.&nbsp;
Updated Projections
Although we are seeing a market appreciation in the total market cap in cryptocurrency, revenues from Tokens.com were down from the previous quarter, including staking and leasing. However, we anticipate these revenues trending upward throughout the rest of the year, along with a slow uptick in the Company&#8217;s gaming revenue. We are still weighing on the conservative side in our projections based on the relative volatility on the market as a whole over the last year, but if the staking and leasing revenue recover faster than expected, our numbers may prove to be too conservative.&nbsp;
For the second quarter of the 2023 fiscal year, we are projecting revenue of $115,000, lower than first quarter&#8217;s $151,848 mainly due to the non-recurring nature of the Company&#8217;s consulting revenue. Operating loss for the quarter is at $482,000 mainly due to the revaluation of digital assets not being accounted for in our estimates. Net loss for the quarter is at $482,000 or breakeven EPS. For the full year, we are estimating revenue of $544,800, operating loss of $2.0 million, net loss of $3.3 million or EPS of $0.03.

Tokens.com (SMURF)

Riding It Out

Fundamental Analysis:

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Riding It Out (SMURF)

Touched by Genesis (SMURF)

An Acquisition for the New Year (SMURF)

Where Do We Go From Here? (SMURF)

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