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 $523,214 in loan principal, accrued interest, default interest and penalties.
- Above and beyond the Company’s financial affairs, Fernhill and MainBloq have continued to establish a wide range of new relationships and potential technology partners that will further enable us to expand our integrated Web3 /digital asset ecosystem and serve a much larger institutional and enterprise audience on a global basis.
“2022 was an interesting and challenging year for our industry and for the economy as a whole. Regardless, Fernhill was able to achieve considerable progress on multiple fronts in terms of sales growth, a significant reduction in convertible loans, and continued to make big strides in further developing its platforms,” said Fernhill Chairman, Chris Kern. “We’re very excited for what 2023 holds and we’re still on track and focused to achieve a wide variety of objectives that we previously established for the Company and our technology.”
In other news, Fernhill Corp is set to launch a new “Bloq '' under the MainBloq brand. Additional details will be released upon its commercial deployment. ”We are very excited about the upcoming launch of another pillar of our infrastructure and to serve the digital asset community on a much wider scale,” said MainBloq President Ryan Kuiken. “Thanks to our widespread network of connections, we feel that this new offering will be well received and can become a highly successful segment of our business in short order.”
About Fernhill:
Fernhill Corp is a Web3 Cloud Based Infrastructure provider focused on providing APIs for digital asset trading, NFT marketplaces and data aggregation solutions. Fernhill is a Signatory Member of the Crypto Climate Accord (CCA) and a Principal Member of the Metaverse Standards Forum.
For all official Fernhill corporate information, please refer to our filings, news and updates on the following resources:
About MainBloq:
MainBloq, a division of Fernhill Corporation ($FERN), is a digital asset connectivity platform that is integrated with leading digital asset trading venues exchanges to serve the needs of institutional clients around the world. MainBloq offers a modular platform including a smart order router, suite of execution algorithms, FIX / WebSocketSOCKETS / and REST gateway, and consulting services to help banks and hedge funds execute on their trading strategies. For more information please visit the MainBloq Website www.mainbloq.io
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Company Contact Information: info@fernhillcorp.com
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Forward-Looking Statements
This release includes ‘forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Certain statements set forth in this press release constitute ‘forward-looking statements.' Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words ‘estimate', ‘project', ‘intend', ‘forecast', ‘anticipate', ‘plan', ‘planning', ‘expect', ‘believe', ‘will likely', ‘should', ‘could', ‘would', ‘may' or words or expressions of similar meaning. Such statements are not guaranteeing of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced vendors, services or components, and various other factors beyond the Company's control.