Business
Majic Reports First Consolidated Financials with Revenues of 6.28 Million in Revenues & 173 Million in Assets
Majic Reports First Consolidated Financials with Revenues of 6.28 Million in Revenues & 173 Million in Assets.
About this update from Majic Wheels Corp.
[{"type":"text","content":"\n Houston, Texas, Nov. 19, 2021 (GLOBE NEWSWIRE) -- Majic Wheels, Corp. (OTC Pink: MJWL) (\"Majic\" or the \"Company\"), a Delaware corporation, that is positioning itself as a player in the disruptive industries of fintech and software development. Majic’s CGCX subsidiary has a Digital Asset Platform that brings value from the diversified business model and security to the clients through insurance and infrastructure offering services such as Crypto Exchange, Digital Custody Services and Token Listing Platform under one-fold and developing various software solutions for the broad blockchain industry.  The Company is happy to report that it has posted its first consolidated financial statements since the acquisition of CGCX. Key Highlights:  Revenues for the 3rd quarter of 2021:         USD 6,277,704EBITDA for the 3rd quarter of 2021:            USD 2,002,819Net Income for the 3rd quarter of 2021:      USD 1,674,225      USD 173,354,165 in total assets and USD 5,429,213 in total liabilities.                               Total revenue for the third quarter (2021-Q3) and the combined previous two quarters (2021-Q2 and 2021-Q1): USD 6,277,704 and USD 5,117,136 respectively.         “We are proud of the results of the CGCX team. The growth and results both met and exceeded our expectations and projections. said David Chong, Chief Executive Officer of Majic Wheels, Corp. Dr. Vin Menon, Co-Founder and Strategic Advisor of CGCX added: “We continue to have momentum in our growth and our path remains clear. We believe this growth will continue into the coming quarter and next year. We are proud of the accomplishments of CGCX and the value we are creating for the shareholders”. About Majic Wheels Corp. Majic Wheels Corp., a Delaware corporation, that is positioning itself as a player in the disruptive industries of fintech and software development. Majic’s CGCX subsidiary has a Digital Asset Platform that brings value from the diversified business model and security to the clients through insurance and infrastructure offering services such as Crypto Exchange, Digital Custody Servic...