Business
ISW Holdings Reports Financial Data on 3 Months Ended June 30, Provides Corporate Update
ISW Holdings Reports Financial Data on 3 Months Ended June 30, Provides Corporate Update.
About this update from Blockquarry Corp.
[{"type":"text","content":"\n LAS VEGAS, Aug. 23, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company,” transitioning to “BlockQuarry,” pending name change), a Nevada-based portfolio company with primary commercial-stage operations in cryptocurrency mining, is pleased to announce the filing of the Company’s financial performance data for the three months ended June 30, 2021. “Our primary mining equipment was not installed and switched on until about two weeks before the end of Q2, so the bulk of the impact will show up in Q3 data in terms of topline numbers,” commented Alonzo Pierce, president and chairman of ISW Holdings. “That said, we have significant equipment now running and just received another large delivery of miners, so we are now cooking at a pace of well over $5 million in annual revenues on a monthly basis, with substantial growth ahead over coming months. We are also proud of material gains in assets while dramatically reducing our liabilities, including derivative liabilities, as we implement our new shareholder-friendly initiative announced several months ago.” Financial Highlights for Three Months Ended June 30, 2021 Net Cash increased by over 2,600% on a 6-month basis to over $2.3 millionTotal Assets increased 2,657% on a 6-month basis to over $4.9 millionTotal liabilities decreased 58%, and total derivative liabilities decreased 96% to under $750kBooked initial cryptocurrency mining revenues beginning during final weeks of quarter Operational Highlights for Three Months Ended June 30, 2021 Received, installed and switched on initial equipment to begin active cryptocurrency mining operationsEntering Q3 with new partnerships, including partnership with Bitmain TechnologiesMinerset now confirmed as new shareholder, with incentives built in for more mining equipment as shares gain valueReached nearly $5 million in total assetsReduced liabilities from derivatives by over 96% and implemented new initiatives to prevent future dilution The three months ended June 30 represent a period of powerful growth in underlying value for the Company, driven by a large increase in assets paired with a large decrease in liabilities. The period is also meaningful because it represents the launch of active operations in cryptocurrency...