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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.