ETHER CAPITAL CORPORATION REPORTS 2019 FINANCIAL RESULTS

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As at December 31, 2019:

  • The total value of the Ether held by the Company was $5.7 million 
  • The total assets of the Company were $9.3 million
  • The Company had an accumulated deficit of $36.7 million, the majority of which includes a non-cash unrealized loss on the value of Ether
  • The Company recorded a net loss of $0.06 per share for year ended December 31, 2019

As at March 25, 2020, the total value of the Ether held by the Company was $6.5 million.

Brian Mosoff, Ether Capital’s CEO, said: “Despite volatile markets in the blockchain space during the year, we saw impressive growth in the Ethereum ecosystem in 2019. We continue to see progress on protocol upgrades that should bring scalability and teams building products that set the stage for mainstream adoption. While we are cognizant of the severe market disruptions that have occurred so far in 2020, we continue to believe that staking and decentralized finance opportunities will gain traction as important milestones for our thesis this year.”

Added Stefan Coolican, Ether Capital’s President and CFO: “Amid the significant volatility in cryptocurrency markets in 2019, we were able to achieve meaningful cost containment while maintaining substantial financial exposure to the success of the Ethereum ecosystem. In 2020, we will continue to consider opportunities to access capital, improve our balance sheet and execute on our strategic goals.”

In December 2019, the 2019 novel coronavirus (COVID-19) surfaced in Wuhan, China. The World Health Organization declared a global emergency on January 30, 2020 with respect to the outbreak, then characterized it as a pandemic on March 11, 2020. The outbreak has spread throughout Europe, the Middle East, Canada and the United States, causing companies and various governments to impose restrictions, such as quarantines, closures, cancellations and travel restrictions. The effects of COVID-19 and the measures taken by companies and governments to combat the coronavirus have negatively affected asset values and increased volatility in the financial markets, including the market price and volatility of Ether and other crypto-assets. There are meaningful direct and indirect effects developing and the Company will continue to monitor the impact of the outbreak on its business. Realizable values of assets may be materially affected as a result of this outbreak.

For audited financial statements for the year ended December 31, 2019, please refer to the Company’s website at http://ethcap.co/. The Company also provides regularly updated disclosure of its investments in the investors section of its website.

Brian Mosoff
Chief Executive Officer
Ether Capital
1-416-583-5541
http://ethcap.co/
Stefan Coolican
President and Chief Financial Officer
Ether Capital
1-416-583-5541
http://ethcap.co/

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