DigitalX reports record-smashing $8M first half profits
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).
Short-term positions in small, early stage ASX companies,
with high potential and near term price catalysts.
Focusing on resource exploration, early-stage tech, and biotech.
Exceptional opportunities across a broad range of
early-stage growth sectors with strong management.
Seeking 1,000% plus returns across medium to long-term holds.
Longer-term positions in a variety of sectors.
Seeking strong management where traction is established and have entered into a growth phase.
S3 Consortium Pty Ltd (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 only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.