Business
GoldSpot Discoveries Reports Record Results For The First Quarter of 2022
Record quarter consulting revenue, up 54% over last year's Q1; Sustained increase in SPOT A...
About this update from Earthlabs Inc
[{"type":"text","content":"GoldSpot Discoveries Reports Record Results For The First Quarter of 2022Record quarter consulting revenue, up 54% over last year's Q1; Sustained increase in SPOT ARR through advertising, subscription and software licensing generated by CEO.CA, Geotic and DigiGeo acquisitions;Acquisition of DigiGeoData bolsters client offering with a powerful digital mapping interface backed by a full suite of seamless claim data, assets, 43-101 reports and geological layers, alongside a map marketing and distribution business with over 300 mineral exploration clients. Toronto, Ontario--(Newsfile Corp. - May 30, 2022) - GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) (\"GoldSpot\" or the \"Company\"), a leading technology company leveraging artificial intelligence and data science to transform the mineral discovery process, is pleased to announce its unaudited consolidated financial results for the three months ended March 31, 2022 (the \"Financial Results\").\"GoldSpot kicked off the new year with strong momentum and delivered outstanding first quarter results supported by our recent acquisitions of Ridgeline, CEO.CA, Geotic and now DigiGeoData,\" said Denis Laviolette, Executive Chairman and President of GoldSpot. \"Our current product portfolio, combined with new offerings planned for later this year, perfectly positions the Company to take advantage of recent market volatility with a heightened customer focus on cost-effective tools and resources. We believe the investments we are making today will lead GoldSpot to sustained ARR growth over the long-term and solidify GoldSpot's position as a global leader in artificial intelligence and data science, transforming the mining sector with our portfolio of SaaS tools.\" Highlights for the three-month period ended March 31, 2022:Closed the acquisition of DigiGeoData Inc. (\"DigiGeoData\"), a mineral resource intelligence data subscription and map service company;Completed the quarter with total cash and cash equivalents due from brokers, investments and equity investments of $48,611,931 as compared to $50,337,817 as of December 31, 2021;Increased consulting revenue to $2,778,949 as compared to $1,799,803 for three months ended March 31, 2021, an increase of 54%;Net investment losses of $258,474 from our investment portfolio as compared to $2,082,455 for the three months ended March 31, 2021...