NetworkNewsBreaks – ISW Holdings Inc. (ISWH) Rel
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Posted On: 11/03/2021 3:25:45 PM
NetworkNewsBreaks – ISW Holdings Inc. (ISWH) Releases Financial, Operations Report
ISW Holdings (OTC: ISWH), a Nevada-based portfolio company with primary commercial-stage operations in cryptocurrency mining that is in the process of changing its name to BlockQuarry, has reported key financial date for the three and nine months ended Sept. 30, 2021. Highlights for the period include revenues from operations for the three-month period totaling $1.075 million including deferred revenues, which is a 2,435% increase on a year-over-year basis, and net revenues excluding deferred revenues for the same period grew 579%. Net revenues excluding deferred revenues for the nine-month period grew 185% on a year-over-year basis, with the reported net cash of $2.8 million representing a 3,100% increase year to date. ISWH total assets reached $9.56 million, a 5,263% year to date increase with total liabilities decreasing 73% and total derivative liabilities decreasing 98% to under $340,000. The company also reported operational highlights, including significant progress on the build-out and deployment of the first 20 MW of southeastern U.S. project, which will pair 56,000 mining rigs with 200 MW of power. “Q3 was a landmark quarter in company history,” said ISW Holdings president and chair Alonzo Pierce in the press release. “We switched on our mining fleet and saw our first substantial mining and hosting revenues hit the books. We also broke ground on our massive cryptocurrency hosting infrastructure and nearly finished the phase 1 build-out to deploy the first 20 MW to on-site pods. In the process, we have seen a huge growth in the tangible value of the company, as assets grew considerably while we continued our campaign to stamp out dilution risk through elimination of toxic notes and strict adherence to financing through a combination of cash from operations and nontoxic funding sources. As a result, we were in the best overall shape in our history coming into Q4, which is set to deliver on a much larger scale into year end.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
ISW Holdings (OTC: ISWH), a Nevada-based portfolio company with primary commercial-stage operations in cryptocurrency mining that is in the process of changing its name to BlockQuarry, has reported key financial date for the three and nine months ended Sept. 30, 2021. Highlights for the period include revenues from operations for the three-month period totaling $1.075 million including deferred revenues, which is a 2,435% increase on a year-over-year basis, and net revenues excluding deferred revenues for the same period grew 579%. Net revenues excluding deferred revenues for the nine-month period grew 185% on a year-over-year basis, with the reported net cash of $2.8 million representing a 3,100% increase year to date. ISWH total assets reached $9.56 million, a 5,263% year to date increase with total liabilities decreasing 73% and total derivative liabilities decreasing 98% to under $340,000. The company also reported operational highlights, including significant progress on the build-out and deployment of the first 20 MW of southeastern U.S. project, which will pair 56,000 mining rigs with 200 MW of power. “Q3 was a landmark quarter in company history,” said ISW Holdings president and chair Alonzo Pierce in the press release. “We switched on our mining fleet and saw our first substantial mining and hosting revenues hit the books. We also broke ground on our massive cryptocurrency hosting infrastructure and nearly finished the phase 1 build-out to deploy the first 20 MW to on-site pods. In the process, we have seen a huge growth in the tangible value of the company, as assets grew considerably while we continued our campaign to stamp out dilution risk through elimination of toxic notes and strict adherence to financing through a combination of cash from operations and nontoxic funding sources. As a result, we were in the best overall shape in our history coming into Q4, which is set to deliver on a much larger scale into year end.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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