EVERYTHING BLOCKCHAIN, INC. REPORTS SECOND QUARTER EARNINGS

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Fleming Island, Florida, Aug. 09, 2021 (GLOBE NEWSWIRE) —

  • Revenue grew by $5.4 Million from the Quarter Ended July 31, 2020, as compared to the Quarter Ended Jul 31, 2021, and grew by $6.6 Million from the six months ended July 31, 2020 as compared to the six months ended Jul 31, 2021.
  • Net profit for the quarter ended July 31, 2021, was $2.9 Million and the net profit for the six months ended July 31, 2021, was $3.5 Million.

Fleming Island, FL  – August 9, 2021 – Everything Blockchain, Inc., (OTC Markets: OBTX) an advanced software architecture, development, and services company specializing in blockchain technologies and decentralized processing,  today reported GAAP earnings per share from continuing operations of $0.46 for the second fiscal quarter ended July 31, 2021, compared with ($0.18) loss in the second fiscal quarter ended July 31, 2020.  In addition, Everything Blockchain reported GAAP earnings per share from continuing operations of $0.61 for the six months ended July 31, 2021, compared with ($6.31) loss in the six months ended July 31, 2020.

Eric Jaffe, Everything Blockchain’s Chief Executive Officer, stated, “The numbers for the second quarter and year to date are in line with our annual projection of $18 million in revenue. Our series of four acquisitions throughout the second quarter only contributed $150K in revenue over approximately 20 days of accounting.  We expect a sharp increase in our numbers when we have a full quarter of revenue reported from these acquisitions.”  Mr. Jaffe added, “With the launch of PulseChain and the distribution of PULS tokens during this upcoming quarter, we will see further growth in revenue.”

Michael Hawkins, Everything Blockchain’s Chief Financial Officer, stated, “With the recent explosion and subsequent pullback in the cryptocurrency markets, we are well positioned in our projects as we typically have an original stake in the endeavors we pursue.  This allows us to see growth regardless of the volatile and sometimes violent variations in the blockchain markets.”

Our financials for the second quarter ended July 31, 2021, are as follows.  The numbers are presented in thousands (000), except for earnings per share and weighted average shares:

      For the three months ended
       July 31,
      2021   2020
Gross revenue and other revenue  $        5,375    $                   –
Total cost of revenue and operating expenses            2,458                 1,076
Net profit (loss)  $        2,917    $        (1,076)
Income(Loss) per share from continuing operations $            0.46   $             (0.18)
Weighted average shares outstanding – basic 6,297,808   5,881,902

Our financials for the six months ended July 31, 2021, are as follows.  The numbers are presented in thousands (000), except for earnings per share and weighted average shares:

      For the six months ended
       July 31,
      2021   2020
Gross revenue and other revenue  $        6,872    $                   –
Total cost of revenue, operating expenses, and other expenses            3,194               49,295
Net profit (loss)  $        3,678    $      (49,295)
Income(Loss) per share from continuing operations $            0.61   $             (6.13)
Weighted average shares outstanding – basic 6,034,898   7,806,248

About Everything Blockchain:

Headquartered in Fleming Island, Florida, Everything Blockchain, Inc., (OTCMKTS: OBTX) is a advanced development, architecture, and software designer of Blockchain that also provides consulting and services specializing in blockchain technologies and decentralized processing.

Forward Looking Statements

This news release contains “forward-looking statements” which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan”, or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of blockchain and cryptocurrency products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.

        
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