DMG Blockchain Expects To File Delayed Financials By Month End, Provides Preliminary Data

DMG Blockchain (TSXV: DMGI) late last night published preliminary revenue guidance for the fourth quarter of 2021. The results come ahead of the firm formally filing its delayed results for the year, which were due at the end of January.

The preliminary results point to the company recording revenue between $3.5 million and $4.0 million for the three month period ended September 30, 2021. The results, if they achieve guidance, would represent significant growth from the third quarter for the company, whom in the June quarter saw revenues of $1.7 million.

Revenue is said to have increased following the installation of addition crypto miners within the quarter. Coin production for the quarter is estimated to be between 47 and 50 bitcoin.

The company currently expects to file full results by the end of the month.

The trouble here, of course, is the simple fact that the company is now two full quarters behind in reporting its financial results. The annual results, which were delayed as a result of its auditor, MNP, resigning the day before the filing deadline, were due at the end of January. its first quarter results for the period ended December 31 meanwhile were due as of March 1, 2022.

The company is currently in the middle of suing MNP for its sudden resignation that reflected poorly on the company.

DMG Blockchain last traded at $0.67 on the TSX Venture.


Information for this analysis was found via Sedar and DMG Blockchain Solutions. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Tariffs Spark New Race for Critical Metals | Rob McEwen

Antimony Resources: The Bald Hill Project

They Laughed at $3,000 Gold, Now We’re Headed for $4,000! | Sean Roosen – Osisko Development Corp.

Recommended

Steadright Begins Preliminary Economic Assessment On TitanBeach Project

Three Miners Trapped Underground At Newmont’s Red Chris Mine

Related News

DMG Blockchain Acquires Additional Miners For Undisclosed Cost

DMG Blockchain (TSXV: DMGI) is expanding its crypto mining capacity. The company this morning announced...

Monday, April 19, 2021, 08:47:51 AM

DMG Blockchain Posts Revenues Of $2.1 Million In Q4 2020

DMG Blockchain (TSXV: DMGI) last night filed its audited fourth quarter financial results last night,...

Thursday, December 31, 2020, 11:51:00 AM

DMG Blockchain Purchases 1,800 Additional ASIC Miners

DMG Blockchain Solutions Inc. (TSX-V: DMGI) announced today the purchase of additional 1,800 bitcoin ASIC...

Monday, April 26, 2021, 10:11:00 AM

DMG Blockchain To Raise C$70.0 Million Via US Institutions

DMG Blockchain (TSXV: DMGI) this morning announced that it will be conducting a large financing....

Wednesday, March 3, 2021, 07:48:36 AM

DMG Blockchain: A Briefing on Mining Operations

Let’s face it. You were to lazy to review the filing statement for DMG Blockchain...

Monday, February 26, 2018, 07:00:09 AM