Las Vegas, NV / ACCESSWIRE / August 16, 2022 / Today, Fernhill Corp, (OTC:FERN) (the “Company”), a Web3 software infrastructure Holding Company focusing on the blockchain and digital asset industries, announces that yesterday it posted its financial disclosure for the period ended June 30, 2022.
The Company confirms it achieved a record $188,066 in Revenue for the period and had ($555,039) in Net Income. The Company also grew its Balance Sheet Assets to $12,763,358 with its successful organic growth and platform acquisition strategy for the period ended June 30, 2022.
Fernhill Management expects the quarterly revenue growth to continue during 2022 and achieve record revenue in the third and fourth quarters for the year, as it ramps up business development and deploys additional services. Going forward, the Company’s acquisition and organic growth strategy will continue to expand and drive new revenue across its digital asset trading division, MainBloq, its NFT marketplace DIGXNFT and White Label platform, NFTx, in addition to other opportunities not yet announced.
Financial Highlights for Period Ended June 30, 2022:
· Revenues from Operations for the period ending June 30, 2022 were $188,066 as compared to $0 for the same period last year (June 30, 2021). The Company’s MainBloq division was the principal driver of revenue. This is an exceptional increase as the Company continues to build its foundation and land more clients.
· Total Assets increased to $12,763,358 from $171,711 for the same period last year, June 2021 to June 2022, an increase in Total Assets of 74 times, year-over-year.
· Shareholder’s Equity landed at $10,653,316 for the period ending June 30, 2022 as compared to a Shareholder’s Deficit of ($266,809) last year, for a 40 times improvement year over year, a significant indication of the remarkable shareholder value creation from the Company’s acquisition and growth strategy.
Fernhill Corporation Chairman & CEO Chris Kern commented on the results:
“Dear FERN Family – we are happy to report the continued growth and development of our collective company and we’re very excited about the foundation that we have established to date. Regardless of the economic and crypto market headwinds, we continue to drive growth and further development of our platform technologies and new potential client pipeline at a record pace. 2022 is turning out to be an incredible transition year for Fernhill and we’re extremely excited about the second half of the year and 2023 forward.”
In other Company updates:
Fernhill’s accounting review and audit work is still ongoing. This requires the thorough review of over 4 years of accounting records and thousands of entries for both Fernhill
and Qandlestick/MainBloq and is a prolonged process. Once this effort is complete, we’ll make an announcement.
MainBloq recently launched its YouTube channel which provides insight into its platform and how it’s used. Visit here: https://www.youtube.com/c/MainBloq/videos
The DIGXNFT Marketplace was soft launched in Beta and continues to be upgraded. Further news and information will be provided about the upcoming launch of its White Label Platform, NFTx – an Enterprise API for brands, agencies and exchanges to have and launch their own fully branded marketplace where they control the client experience and do not need to be reliant upon or part of the noise with other third-party marketplaces.
“We feel very excited about where we are right now,” said Fernhill President Marc Lasky.”With revenues beginning to ramp up and our client pipelines growing, we expect big things over the next 12-18 months. Stay tuned as we promise to keep everyone updated along the way.”
About Fernhill:
Fernhill Corp is a Web3 holding company focused on developing and acquiring software companies in crypto currency mining, digital asset trading, NFTs, DeFi and the Metaverse that form the foundation of the tokenized economy. 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:
Company Contact Information: info@fernhillcorp.com
Any other links are not official & should be taken as such nor have anything to do with Fernhill Corp or its subsidiaries.
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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.
