Business
NSAV Reports Strong Second-Quarter 2024 Financial Results and Upgrades 2024 Guidance
NSAV Reports Strong Second-Quarter 2024 Financial Results and Upgrades 2024 Guidance.
About this update from Net Savings Link, Inc.
[{"type":"text","content":"LONDON, UK / ACCESSWIRE / August 20, 2024 / Net Savings Link, Inc. (OTC PINK:NSAV), a leading Web3, blockchain and digital asset technology company, announced today exponential financial and operational achievements for the second quarter ended June 30, 2024, as filed with OTC Markets Group. Second Quarter 2024 Financial Highlights:• Revenue: Revenue reached $11,694,622,474, marking an increase of 5,710% compared to the first quarter of 2024.• Intangible Assets: Intangible assets rose substantially to $11,758,191,745, or $1.64 per share. This growth was a direct result of onboarding over 100 new crypto utility projects, including utility-as-a-service, blockchain development and Dapp deployment.Operational Highlights:• Partnership: During the second quarter, the company entered into partnerships with the following partners:StaynexZEUS Blockchain PartnersDiVinciPayBLAQcloudsGivBuxWRIT MediaMad Hatter Society• Market Expansion: While in Q1, the company began integration of onramp/offramp services for the exchange and credit card onramp capabilities for the platform, it only became approved for these services in the beginning of Q3..• Regulatory Compliance: Successfully maintained its registration with FINCEN, as well as updating applications with Lithuania, Singapore, Dubai and Ireland. The company commenced its registration process as a Money Transmitter with the State of Colorado and Puerto Rico. The licenses and Money Transmitter registration are under various stages of the review process and we expect them to be awarded in the third quarter of 2024.• User Growth: In Q2 2024, the company's NSAVx CEX Exchange https://nsavx.com/ user growth exceeded 9 million users. At the end of Q2, the company purged non-active accounts to conserve system resources and bandwidth for the exchange. In doing so, the company's active users were adjusted to 431,630. The company is currently implementing direct marketing campaigns to the over 8.5 million CEX inactive users.Third Quarter 2024 Outlook and Objectives:• Revenue Goals: In Q3, we intend to onramp the remaining 500 projects to the platform and subsequent ecosystem.• Growth in Intangible Assets: In Q3, we plan to begin a systematic swap schedule for utility performing projects. The assets will be swapped for tier 1 tokens and coins such as BTC, ...