Graph Blockchain Announces 2018 Audited Financial Results

TORONTO, Aug. 28, 2019 (GLOBE NEWSWIRE) — Graph Blockchain Inc. (“Graph” or “Company”) (CSE: GBLC) is pleased to announce the results of the Company’s fiscal year ending April 30, 2019.

Jeff Stevens, CEO and Chairman of the Company commented: “We are very pleased with what we have achieved in 2018. We have met key milestones that include the Reverse Take-Over transaction (the “RTO”) and secured contracts with various conglomerates through IBM and a distribution partner. We also signed a binding Letter of Intent (“LOI”) to acquire Cyberanking Ltd., an eSport gaming company. We are now in position to reap the benefits of the investments we have made, drive top and bottom-line growth and leverage the synergies that we are seeing across our different verticals.”

Key Achievements:

  • Successfully completed a Reverse Take Over (“RTO”) to list on the Canadian Securities Exchange (“CSE”) in November.
  • Partnered with Datametrex AI Limited, and signed LOI with LOTTE to build a Private Blockchain solution for the importation of Canadian Beef.
  • Through our sales relationship with IBM and a distribution partner, Graph Blockchain secured a contract with a division of Samsung, LG and Hyundai Motor.
  • Two patents granted.
  • Announced a Letter of Intent to acquire Cyberanking Ltd., an eGaming company focused on the eSports industry.

The following table summarizes revenue, net loss, EBITDA and Adjusted EBITDA for the year ended April 30, 2019 and period from November 22, 2018 (date of incorporation) to April 30, 2018:

  Year ended
April 30,
  November 22, 2017
to April
  2019   30, 2018
$ $
 Revenue 2,191,864  
 Net loss (7,617,748 )   (2,124,565 )
 EBITDA (7,616,084 )   (2,123,584 )
 Adjusted EBITDA (3,725,863 )   (1,745,989 )
 Adjusted EBITDA per share (0.029 )   (0.021 )

The filings, along with additional information regarding the Company, are available on SEDAR at www.sedar.com.

About Graph Blockchain Inc.

The Company develops leading-edge private blockchain business intelligence and data management solutions and is a pure play in the graph database technology space. Graph leverages its proprietary integration of the AgensGraph Database engine with IBM’s Hyperledger Fabric to create a transparent and immutable ledger with near real-time transactional data processing and intuitive data visualization. The Company has secured multiple prototype development contracts with multi-national conglomerates and sells across client subsidiaries as a full enterprise product.

Additional Information on the Company is available at: www.graphblockchain.com.

For further information, please contact:

Jeffrey Stevens – CEO
Phone:  (647) 400-8494
Email:   jstevens@graphblockchain.com

Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. In some cases, forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. Such statements may prove to be incorrect and actual results may differ materially from those anticipated.

The forward-looking statements contained herein are made as of the date of this press release and are based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking statements are made.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

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