Business
Fernhill Corp is Pleased to Announce Highlights from its 2022 Annual Report
Fernhill Corp is Pleased to Announce Highlights from its 2022 Annual Report.
About this update from Fernhill Corp.
[{"type":"text","content":"Fernhill Corp (OTC Markets:FERN), a Web3 Cloud Based Enterprise Infrastructure firm focused on providing APIs for digital asset trading, NFT marketplaces and data aggregation solutions, is pleased to announce some highlights from its 2022 Annual Filing.Fiscal Year 2022 delivered a 117% increase in Revenues, coming in at $551,142 as compared to revenues of $253,670 for 2021. Total Income, including Revenues and Other Income amounted to $1,232,201 in 2022 vs $253,672 for 2021, an increase of 386%. On December 1, 2022, the company was able to write off the entirety of its World Wide Sun (“WWS”) debt in a sale of all assets and IP of its wholly owned subsidiary World Wide Sun to Extreme Biodiesel (OTC:XTRM) for a combination of equity and assumption of the entirety of the WWS debt. In all the transaction was valued at $673,214 including $150,000 in common shares receivable from Extreme Biodiesel in addition to $523,214 in loan principal, accrued interest, default interest and penalties.Above and beyond the Company’s financial affairs, Fernhill and MainBloq have continued to establish a wide range of new relationships and potential technology partners that will further enable us to expand our integrated Web3 /digital asset ecosystem and serve a much larger institutional and enterprise audience on a global basis. “2022 was an interesting and challenging year for our industry and for the economy as a whole. Regardless, Fernhill was able to achieve considerable progress on multiple fronts in terms of sales growth, a significant reduction in convertible loans, and continued to make big strides in further developing its platforms,” said Fernhill Chairman, Chris Kern. “We’re very excited for what 2023 holds and we’re still on track and focused to achieve a wide variety of objectives that we previously established for the Company and our technology.”In other news, Fernhill Corp is set to launch a new “Bloq '' under the MainBloq brand. Additional details will be released upon its commercial deployment. ”We are very excited about the upcoming launch of another pillar of our infrastructure and to serve the digital asset community on a much wider scale,” said MainBloq President Ryan Kuiken. “Thanks to our widespread network of connections, we feel that this new offering will be well received and can become a hig...