SMURF - Tokens.com Corp. (SMURF) - Challenging Market Can't Stop Growth

Second Quarter Results. Tokens.com's management announced total revenue of $250,714, an increase of $46,724 over the prior year's $203,990. We had estimated revenue at $450,000. Operating loss was at $502,066 versus last year's $2.0 million due to a listing expense in the previous year and a decrease in share-based payments. Net loss for the Company was $11.9 million, or $(0.12) per share from a net loss of $8.5 million, or $(0.13) per share, last year.Challenging Environment but Silver Lining. The Company's portfolio has seen a large decrease from the crypto market price reductions from the end of the year to the end of the second quarter, as the value of the portfolio has dropped to $6.95 million from $25.17 million. However, management is seeing improved crypto asset pricing since the end of the second quarter. With the Company's healthy balance sheet and initiatives in the Metaverse and Hulk Labs businesses, we believe the Company is well positioned to ride out the storm. Read More >>