TAAL Announces Preliminary Q3 2021 Revenue Guidance of $11.5 to $12 Million
- Q3 2021 consolidated revenue expected to be in the range of $11.5 – $12 Million
- Guidance indicates a revenue increase of over 70% quarter on quarter
- The Company anticipates holding approximately 75,000 BSV in treasury at the end of Q3 and $21 million in pre-paid deposits
Vancouver, British Columbia; September 16, 2021 – TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ1 | OTC:TAALF) (“TAAL” or the “Company”), a vertically integrated blockchain infrastructure and service provider for enterprise, today announces select preliminary revenue guidance for the three-month period ending September 30, 2021 (“Q3 2021”). All financial information in this press release is reported in Canadian dollars unless otherwise indicated.
Driven by strong transaction processing performance and as capacity increases, TAAL’s consolidated revenue for Q3 2021 is expected to be in the range of $11.5 to 12 Million, compared to $6.7 million in Q2 2021, an approximately 70% increase quarter on quarter.
“We are pleased to have transaction processing and larger volumes of blocks mined contribute to our financial guidance for the Q3 2021 period. Our highly focused team has made great progress on product and service deployment, enabling business development to ramp up across multiple verticals.” Comments Stefan Matthews, TAAL CEO and Executive Chairman. “Significantly, transaction fees exceeded block subsidy rewards on several blocks on the BSV network for the first time in August. The future of bitcoin is harnessing its immense computing power and TAAL is providing the tools and services to make it easier for enterprises to adopt this technology.”
- TAAL supported the Bitcoin Association recommendation for miners to increase hard cap settings on BSV to 2GB in August, expanding transaction throughput with less hashpower on the BSV network, the most energy-efficient system for processing transactions of any blockchain.
- WhatsonChain, continues to deliver on its promise to be the world’s BSV block explorer and data provider, anticipated to attract a record 156.5 million web and API requests so far in Q3.
- The Company welcomed the recent independent report from MNP, a leading national tax and accounting firm, on the Bitcoin ecosystem, which concluded that BSV is most representative of Satoshi’s original intention for Bitcoin. To download the full report, visit: https://bit.ly/3nfwGIg.
About TAAL Distributed Information Technologies Inc.
TAAL Distributed Information Technologies Inc. delivers value-added blockchain services, providing professional-grade, highly scalable blockchain infrastructure and transactional platforms to support businesses building solutions and applications on the BSV platform, and developing, operating, and managing distributed computing systems for enterprise users. BitcoinSV Blockchain is the world’s largest public blockchain by all major utility metrics, data storage, daily transaction volume, scaling ability, and average block size.
Visit TAAL online at www.taal.com
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain statements included in this news release constitute “forward-looking information” as defined under applicable Canadian securities legislation. The words “will”, “intends”, “expects”
and similar expressions are intended to identify forward-looking information, although not all forward-looking information will contain these identifying words. Specific forward-looking information contained in this news release includes but is not limited to statements regarding: the Company’s expected revenues for Q3 2021. These statements are based on factors and assumptions related to historical trends, current conditions and expected future developments. Since forward-looking information relates to future events and conditions, by its very nature it requires making assumptions and involves inherent risks and uncertainties. TAAL cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from expectations. Material risk factors include delays in equipment deliver, expected operation, network conditions in the future and other risks set out in TAAL’s Annual Information Form for the financial year ended December 31, 2020 dated April 30, 2021 under the heading Risk Factors and elsewhere in TAAL’s continuous disclosure filings available on SEDAR at www.sedar.com. Given these risks, undue reliance should not be placed on the forward-looking information contained herein. Other than as required by law, TAAL undertakes no obligation to update any forward-looking information to reflect new information, subsequent or otherwise.
For further information contact:
Matt Whitcomb, Investor Relations, [email protected] 604-260-6142
Stefan Matthews, CEO & Executive Chairman, [email protected]
Chris Naprawa, President, [email protected]