Prophecy DeFi Announces Q1 2022 Financial Results

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TORONTO, May 30, 2022 /CNW/ — Prophe­cy DeFi Inc. (“Prophe­cy DeFi” or the “Com­pa­ny”) (CSE: PDFI), a pub­licly trad­ed invest­ment firm focused on the decen­tral­ized finance sec­tor, is pleased to announce its finan­cial results for the three months end­ed March 31, 2022 (“Q1”).

Prophecy DeFi Inc. Logo (CNW Group/Prophecy DeFi Inc.)

Prophe­cy DeFi Inc. Logo (CNW Group/Prophecy DeFi Inc.)

Q1 2022 HIGHLIGHTS

  • Cash & Dig­i­tal Assets of $9,821,748

  • Real­ized Liq­uid­i­ty Min­ing Rewards of $462,678

  • Net loss per share of $(0.03)

Cryp­tocur­ren­cy mar­kets expe­ri­enced tremen­dous volatil­i­ty dur­ing the first quar­ter of 2022, which per­sists into the cur­rent quar­ter. Prophe­cy DeFi’s whol­ly owned sub­sidiary, Layer2 Blockchain Inc. (“Layer2″) nav­i­gat­ed this envi­ron­ment well, as a result of its diver­si­fied port­fo­lio con­sist­ing of 15 active posi­tions and assets that include fiat-col­lat­er­al­ized sta­ble­coins and blue-chip dig­i­tal assets. Dur­ing Q1, Layer2’s man­age­ment team rebal­anced its port­fo­lio to max­i­mize risk-adjust­ed returns and will con­tin­ue to do so on an ongo­ing basis. The liq­uid­i­ty min­ing rewards that Layer2 real­ized in Q1 were strong and the port­fo­lio con­tin­ues to real­ize these rewards notwith­stand­ing the broad­er price depre­ci­a­tion of cryp­tocur­ren­cy assets, globally.

“Under the back­drop of a sig­nif­i­cant com­pres­sion in the val­ue of dig­i­tal assets, Layer2’s port­fo­lio con­tin­ued to gen­er­ate liq­uid­i­ty min­ing yields and Prophe­cy DeFi advanced anoth­er $3M, which was deployed into cryp­to assets dur­ing the peri­od,” said John McMa­hon, CEO, Prophe­cy DeFi. “As we move for­ward into 2022, Prophe­cy DeFi will con­tin­ue to seek out new organ­ic and inor­gan­ic growth oppor­tu­ni­ties that will add val­ue and diver­si­fy our rev­enue and asset com­po­si­tion. Addi­tion­al­ly, in light of recent mar­ket con­di­tions, the Com­pa­ny has tak­en sig­nif­i­cant actions to elim­i­nate oper­at­ing costs through salary reduc­tions and cuts relat­ing to all non-essen­tial services.”

Addi­tion­al infor­ma­tion con­cern­ing the Com­pa­ny, includ­ing our unau­dit­ed con­sol­i­dat­ed inter­im finan­cial state­ments and relat­ed Man­age­men­t’s Dis­cus­sion and Analy­sis (“MD&A”) can be found under the Com­pa­ny’s pro­file on SEDAR at www.sedar.com.

About Prophe­cy DeFi

Prophe­cy DeFi (CSE: PDFI) pro­vides retail and insti­tu­tion­al investors with access to the decen­tral­ized finance sec­tor by bridg­ing the gap between DeFi and tra­di­tion­al finance. Prophe­cy DeFi invests in diverse DeFi and Web 3.0 star­tups to cre­ate new busi­ness oppor­tu­ni­ties in a coher­ent ecosystem.

www.prophecydefi.com

For­ward-Look­ing Information

Cer­tain infor­ma­tion set forth in this news release may con­tain for­ward-look­ing infor­ma­tion that involves sub­stan­tial known and unknown risks and uncer­tain­ties. This for­ward-look­ing infor­ma­tion is sub­ject to numer­ous risks and uncer­tain­ties, cer­tain of which are beyond the con­trol of the Com­pa­ny, includ­ing, but not lim­it­ed to, the impact of gen­er­al eco­nom­ic con­di­tions, indus­try con­di­tions, and depen­dence upon reg­u­la­to­ry approvals and the pos­si­bil­i­ty that the com­ple­tion of the trans­ac­tion may not occur. Read­ers are cau­tioned that the assump­tions used in the prepa­ra­tion of such infor­ma­tion, although con­sid­ered rea­son­able at the time of prepa­ra­tion, may prove to be impre­cise and, as such, undue reliance should not be placed on for­ward-look­ing infor­ma­tion. The par­ties under­take no oblig­a­tion to update for­ward-look­ing infor­ma­tion except as oth­er­wise may be required by applic­a­ble secu­ri­ties law.

Nei­ther the Cana­di­an Secu­ri­ties Exchange nor the Invest­ment Indus­try Reg­u­la­to­ry Orga­ni­za­tion of Cana­da accepts respon­si­bil­i­ty for the ade­qua­cy or accu­ra­cy of this release.

SOURCE Prophe­cy DeFi Inc.

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View orig­i­nal con­tent to down­load mul­ti­me­dia: http://www.newswire.ca/en/releases/archive/May2022/30/c4278.html

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