(TheNewswire)
Montréal – TheNewswire - July 7, 2021 – ZeU Technologies, Inc. (CSE:ZEU) (OTC:ZEUCF) (CNSX:ZEU.CN) ispleased to disclose that it has filed its first quarter 2021 Interim Financial Statements onSEDAR.
In the quarter ended March 31, 2021,the company has net income of $537,152 compared to a net loss of$1,046,008 in the comparative period in 2020.
With the acquisition of PregoInternational Group AS in the quarter, the total assets of the Companyincreased to $14,516,214 compared to the December 31, 2020 totalassets of $16,944.
Significant amounts of digital assetshave been received and will remained valued at untilmonetized.
On March 31, 2021, the Company repaid $500,000 inprinciple and $661,834 of interest of its convertible debentureutilizing 3,336,564 Kamari coins and has recognized a gain of $1,099,818 on the debtsettlement .
The Company continues to hold 20,633,436 Kamari coinswhich are currently recorded with value as well as a small amountof other digital tokens like BTC, ETH, EOS and 250,000 Hodlc tokens,all recorded at value.
Future accounting treatment of digital assets nottrading on a market recognized by Canadian Regulators, like a futureDigital Exchange, will all be treated as such and will be valued atliquidation when a fiat Canadian cash counterpart is received andsecured in the Company bank accounts.
Management is expecting to implement major changes toits accounting and auditing processes to avoid a repeat of similardelays in filing in the future. The Company will communicate theseproposed changes in an upcoming release.
ON BEHALF OF THE BOARD OF DIRECTORS
“ Frank Dumas”
FRANK DUMAS
President & CEO
ZeU is a forward-thinking Canadian technology companythat has developed a state-of-the-art blockchain protocol, providingthe foundation for the next generation of encrypted and distributednetworks. Thanks to its high level of sophistication, ZeU’stechnology maximizes transparency, security and scalability as well asbig data management. ZeU’s strategy is to monetize blockchaintransactions in diverse sectors such as payment, gaming, data, andhealthcare.
Neither the CSE nor its RegulationServices Provider accepts responsibility for the adequacy or accuracyof this release.
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