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WonderFi Announces Q4 2022 Financial Results
Successfully Integrates Coinberry Acquisition and Acquires Blockchain Foundry Vancouver, Br...
About this update from Wonderfi Technologies Inc
[{"type":"text","content":"WonderFi Announces Q4 2022 Financial ResultsSuccessfully Integrates Coinberry Acquisition and Acquires Blockchain FoundryVancouver, British Columbia--(Newsfile Corp. - November 11, 2022) - WonderFi Technologies Inc. (TSX: WNDR) (OTC: WONDF) (WKN: A3C166) (the \"Company\" or \"WonderFi\") today announced its fourth quarter 2022 financial results for the period ended September 30, 2022. All financial references are in Canadian dollars unless otherwise noted.Financial Highlights:Coinberry Limited (\"Coinberry\") included in the Company's consolidated results for the first time$450 million in total assets as of September 30, 2022, including $8.3 million in cash and $4.5 million in crypto assets and inventory, as well as $255 million of Assets Under Custody for customersOperating Highlights:Closed Coinberry acquisition on July 4, 2022, and continuing to optimize Coinberry operations including strategic alignment of technology and resourcesSubmitted NASDAQ listing application and filed SEC registration statement in the United StatesFiled a final short form base shelf prospectus with each of the Provinces of Canada to allow efficient access to Canadian capital marketsListed on the OTCQB Venture Market on August 17 2022, under stock symbol \"WONDF\"Partnered with AlpacaDB Inc. to offer fractional trading and investing in US stocks and exchange trade funds, anticipated in Q1 2023Subsequent to September 30, 2022:Closed the acquisition of Blockchain Foundry Inc. (\"BCF\") on November 7, 2022Announced expected launch of Bitbuy Staking on November 28, 2022, to allow Bitbuy users to leverage their crypto balances to earn crypto rewards through on-chain stakingResignation of Ben Samaroo as Chief Executive Officer effective as of October 24, 2022, and appointment of Dean Skurka, President of Bitbuy Technologies Inc. (\"Bitbuy\"), as President and Interim Chief Executive Officer of the CompanySummary of Financial Results for the Quarter ended September 30, 2022The Company has changed its financial year-end from September 30th to December 31st. The Company operates through two reportable segments with three corporate subsidiaries: Decentralized Finance segment (\"DeFi\") with WonderFi Technologies Inc., and Centralized Finance segment (\"CeFi\") with Bitbuy and Coinberry.Consolidated Revenues were $3.3 million and $6.5 million for the three and t...