DigitalX reports record-smashing $8M first half profits
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Blockchain and cryptocurrency innovator, DigitalX (ASX:DCC), this week reported a record net profit after tax (NPAT) of US$8 million for the six months to 31 December, 2017.
DCC managing director, Leigh Travers, said revenues were primarily driven by blockchain and ICO consulting and advisory fees, as well as gains in the value of digital assets held by the company.
DCC is a blockchain technology company with offices in Perth and New York. The company provides ICO advisory services, blockchain consulting services, and blockchain-related software development. It’s also the only publicly listed blockchain corporate advisory firm in the world.
These pleasing results crystallise DCC’s position as a leading global figure in the blockchain, crypto and ICO advisory space.
“For all involved at DigitalX, these results represent the outcome of significant effort over the past 12 months,” said Travers. “They reflect the company’s growing expertise in the blockchain and digital currency ecosystems.”
During the first half of the year, DCC provided consulting services to a cluster of high-profile ICOs including Power Ledger, Bankera and Etherparty.
Travers noted: “DigitalX consulted to blockchain companies around the world that collectively raised more than AU$300 million during the period. We are pleased to have played an important role in the emergence of ICOs as a mechanism for raising capital for new and exciting technologies.”
“As such, we are excited to be part of the ongoing discussion of the role of ICOs as a compliant capital raising alternative for these technologies.”
The Power Ledger appointment transpired in Australia’s first major ICO, with more than AUD$34 million worth of Power Ledger tokens (POWR) sold.
Further to that, Bankera successfully closed the largest pre-ICO raising in history, with €25m raised through the sale of 2.5 Billion Bankers tokens (BNK) at €0.01 apiece.
Encouragingly, DCC also recorded an increase in the value of its digital assets after the price of cryptocurrencies such as Bitcoin rose to record levels in December.
“We have capitalised on the strength of our technical talent, industry experience and cryptocurrency network to provide high level consulting services to new blockchain companies seeking advice in this rapidly evolving industry,” said Travers.
It should be noted, however, that this is an early stage tech company and success is no guarantee. Investors should seek professional financial advice before making an investment.
DCC maintains a strong focus on compliance and developing a recognised presence as a thought leader in crypto and blockchain technology applications. As announced last week, DCC’s most recent blockchain consultancy appointment is for Transcendence Technologies (ASX:TTL).
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.