13:33:03 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



Bigg Digital Assets Inc
Symbol BIGG
Shares Issued 255,340,401
Close 2023-11-29 C$ 0.21
Market Cap C$ 53,621,484
Recent Sedar Documents

Bigg Digital talks crypto upswing; NR omits Q3 P&L

2023-11-29 17:11 ET - News Release

Mr. Dan Reitzik reports

BIGG DIGITAL ASSETS INC. REPORTS FINANCIAL RESULTS FOR Q3 2023

Bigg Digital Assets Inc. has released its third quarter 2023 financial results.

Q3 2023 highlights:

  • Gross operating revenue of $1.44-million, with $1.05-million for Netcoins and $390,000 for Blockchain Intelligence Group;
  • Netcoins USA is operational in 17 states in the United States with money transmitter licence application in process;
  • Netcoins' active users totalled 7,905, a 4-per-cent increase over the prior quarter and 11-per-cent decrease from the same period of the prior year;
  • Blockchain Intelligence Group added new customers in the areas of finance, investigation and law enforcement;
  • Blockchain Intelligence Group continued to add support for its existing services with 15 major service improvements and more;
  • Cash and crypto in treasury of $13.8-million at Sept. 30, 2023, no debt.

Highlights subsequent to Sept. 30, 2023:

  • Netcoins currently has customer assets under custody of approximately $63-million (an increase of 3.58 per cent over second quarter).
  • Netcoins registered users have reached over 210,000.
  • Blockchain Intelligence Group expands its global reach with Spanish language integration in its cryptocurrency investigation and compliance suite.
  • Bigg Digital announced the closing of a definitive amalgamation agreement to acquire 100 per cent of TerraZero.
  • TerraZero's initial beta test of Intraverse Pro has deployed with Warner Records and the artist Teddy Swims.
  • TerraZero's beta launch of the Intraverse platform is planned for first quarter of 2024.

Dan Reitzik, Bigg Digital interim chief executive officer, commented: "While we are satisfied with Q3 results, we are certainly excited about the recent upswing in crypto trading volumes, prices, and activity for the future growth of Netcoins and Blockchain Intelligence Group. The closing of the acquisition of TerraZero positions an opportunity for all three companies to work better together. With TerraZero's Intraverse helping enterprise, [small- and medium-sized businesses], artists, and creators deploy ready-to-go virtual environments, complete with e-commerce via fiat/credit cards for virtual and physical goods, the next step is to create opportunities where digital assets are purchased using Netcoins and secured with KYC/AML via Blockchain Intelligence Group. My goal with Bigg is to offer choice and versatility for all going forward, utilizing the unique products and services offered by Netcoins, Blockchain Intelligence and TerraZero. This will enable the next iteration of today's Internet, one where we do more than simply consume content -- we experience it."

Selected financial and operating information should be read in conjunction with Bigg Digital's unaudited condensed consolidated interim financial statements and related management's discussion and analysis for the nine months ended Sept. 30, 2023, available at SEDAR+.

All financial information in this press release is prepared in accordance with international financial reporting standards as issued by the International Accounting Standards Board.

About Bigg Digital Assets Inc.

Bigg Digital believes the future of crypto is a safe, compliant and regulated environment. Bigg Digital invests in products and companies to support this vision. Bigg Digital has three portfolio companies: Netcoins, Blockchain Intelligence Group and TerraZero.

Blockchain Intelligence Group is an industry-leading digital asset forensics, anti-money-laundering detection and cryptocurrency investigation company. At the heart of its operations is a deep-rooted expertise in visualizing digital assets and market-related activities. This expertise is leveraged to monitor transactional data with a constant eye to assisting its customers with risk management, due diligence and forensic services for digital assets.

Netcoins offers safe and secure crypto trading in Canada and the United States, with a mission to make cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins has a robust product offering with crypto trading (United States and Canada), Netcoins Pay (Canada) and Netcoins Staking (Canada). Netcoins utilizes BitRank Verified software at the heart of its platform and facilitates crypto trading through its cutting-edge mobile and Web applications.

TerraZero is a vertically integrated metaverse development group and leading Web3 technology company, specializing in helping brands create immersive experiences. TerraZero's metaverse-agnostic vision is to develop and implement products and services with scalable commercial applications to flourish engagement across gamified experiences where enterprise-level businesses, metaverse platforms and Web3 creators can seamlessly bridge and actionably expand their virtual world and the physical world endeavours together as one. TerraZero owns digital real estate for brands to establish presence in existing virtual worlds and can also offer brands their own private worlds to provide offices and services to those interested in the metaverse. Furthermore, TerraZero acquires, designs, builds and operates virtual assets and solutions to monetize the metaverse ecosystem. TerraZero's businesses are segmented into five divisions, which include: (1) immersive experience creation in existing or private virtual worlds; (2) advertising; (3) data analytics; (4) events and marketing; and (5) development of the Intraverse. TerraZero aims to support the community, foster innovation and drive adoption.

We seek Safe Harbor.

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