#Table of Contents
It is reported that the Canadian listed company Ether Capital Corporation (NEO: ETHC) has released its audited comprehensive financial performance report for the year ended Decembe
It is reported that the Canadian listed company Ether Capital Corporation (NEO: ETHC) has released its audited comprehensive financial performance report for the year ended December 31, 2022. The company’s revenue increased by 149% from $1.5 million in 2021 to $3.7 million in 2022, mainly due to the significant increase in Stacked Ether awards. In addition, the company receives consulting fee income from its related party, Purpose Investments, which is associated with assets managed by Purpose Investments’ crypto ETF (“crypto asset management scale”). The cash on the balance sheet as of December 31, 2022 was $440000, compared to $3.4 million as of December 31, 2021. However, the increase of $2.45 million was invested in cash equivalents and marketable securities. As mentioned above, significant changes occurred in the valuation of the company’s digital assets during 2022. The value of digital assets decreased by $137.3 million to $73.1 million, mainly due to a 65% decline in Ethereum prices during the year. As of December 31, 2022, the valuation of the company’s digital assets exceeded the cost base of these assets by $15.5 million.
Listed company Ether Capital’s revenue in 2022 was $3.7 million
1. Introduction
2. Ether Capital Corporation’s Revenue Increase
3. Consulting Fee Income from Purpose Investments
4. Cash Balance and Investments
5. Valuation of Digital Assets
6. Conclusion
7. FAQ
Ether Capital Corporation Reports Revenue Increase of 149% in 2022
Ether Capital Corporation (NEO: ETHC), a Canadian listed company, has recently released its comprehensive financial performance report for the year ended December 31, 2022. In this report, Ether Capital Corporation revealed its remarkable financial performance, which includes a 149% increase in revenue from $1.5 million in 2021 to $3.7 million in 2022.
Consulting Fee Income from Purpose Investments
Ether Capital Corporation’s increase in revenue can be attributed to the significant increase in Stacked Ether awards. Additionally, the company also received consulting fee income from its related party, Purpose Investments, which is associated with assets managed by Purpose Investments’ crypto ETF (“crypto asset management scale”).
Cash Balance and Investments
The cash balance on Ether Capital Corporation’s balance sheet as of December 31, 2022, was $440,000, compared to $3.4 million as of December 31, 2021. However, the increase of $2.45 million was invested in cash equivalents and marketable securities.
Valuation of Digital Assets
As mentioned above, significant changes occurred in the valuation of Ether Capital Corporation’s digital assets during 2022. The value of digital assets decreased by $137.3 million to $73.1 million, mainly due to a 65% decline in Ethereum prices during the year. As of December 31, 2022, the valuation of the company’s digital assets exceeded the cost base of these assets by $15.5 million.
Conclusion
Ether Capital Corporation’s financial performance in 2022 indicated a significant increase in revenue due to the marked increase of Stacked Ether awards and consulting fee income from Purpose Investments. However, the valuation of the company’s digital assets decreased by $137.3 million, decreasing their overall value to $73.1 million.
FAQ
Q: What contributed to Ether Capital Corporation’s significant increase in revenue in 2022?
A: Ether Capital Corporation’s increase in revenue is due to the significant increase in Stacked Ether awards and consulting fee income from Purpose Investments.
Q: What was the cash balance on Ether Capital Corporation’s balance sheet as of December 31, 2022?
A: The cash balance on Ether Capital Corporation’s balance sheet as of December 31, 2022, was $440,000.
Q: What caused Ether Capital Corporation’s digital assets to decrease in value in 2022?
A: The value of digital assets decreased by $137.3 million to $73.1 million, mainly due to a 65% decline in Ethereum prices during the year.
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