REPORTS THIRD QUARTER EARNINGS OF $0.38 PER SHARE AND YEAR TO DATE EARNINGS OF $0.92 PER SHARE

Jacksonville, Florida, Dec. 15, 2021 (GLOBE NEWSWIRE) —

  • Revenue was $4.9 million for the three months ended October 31, 2021, as compared to $0.1 million for the three months ended October 31, 2020, and $11.6 Million for the nine months ended October 31, 2021, as compared to $0.1 million for the nine months ended October 31, 2020.
  • Net profit was $3.2 million for the three months ended October 31, 2021, as compared to a net loss of $0.1 million for the three months ended October 31, 2020, and $6.5 Million for the nine months ended October 31, 2021, as compared to a net loss of $49.4 million for the nine months ended October 31, 2020.

December 15, 2021 – Everything Blockchain, Inc., (OTC Markets: OBTX) an advanced platform architect, development and services company and software foundry, specializing in blockchain technologies, decentralized processing, and zero trust applications, today reported earnings per share of $0.38 for the third fiscal quarter ended October 31, 2021, compared with ($0.02) loss in the third fiscal quarter ended October 31, 2020.  In addition, Everything Blockchain reported earnings per share of $0.92 for the nine months ended October 31, 2021, compared with ($6.90) loss in the nine months ended October 31, 2020.

Eric Jaffe, Everything Blockchain’s Chief Executive Officer, stated, “The numbers for the third quarter and year to date are in line with our annual projection of $18 million in revenue and ahead of our projected annual net profit of $7 million.”  Mr. Jaffe added, “With the upcoming launch of PulseChain and the distribution of PULS tokens, which we expect during the fourth quarter, we will see further growth in revenue.”

Our financials for the third quarter ended October 31, 2021 and 2020, are as follows.  The numbers are presented in thousands (000), except for earnings per share and weighted average shares:

      For the three months ended
       October 31,
      2021   2020
Gross revenue  $        4,906    $               62
Total cost of sales, operating expenses, and other expenses            1,676                   202
Net profit (loss)  $        3,230    $           (140)
Income (Loss) per share $           0.38   $           (0.02)
Weighted average shares outstanding – basic 8,552,786   5,872,554

Our financials for the nine months ended October 31, 2021 and 2020, are as follows.  The numbers are presented in thousands (000), except for earnings per share and weighted average shares:

      For the nine months ended
       October 31,
      2021   2020
Gross revenue  $      11,603    $               62
Total cost of sales, operating expenses, and other expenses            5,066              49,468
Net profit (loss)  $        6,537    $      (49,406)
Income (Loss) per share $           0.92   $           (6.90)
Weighted average shares outstanding – basic 7,074,748   7,156,979

About Everything Blockchain:

Headquartered in Jacksonville, Florida, Everything Blockchain, Inc., (OTC Markets: OBTX) is a platform developer and software foundry as advanced development, architecture, and software designers of Blockchain specializing in blockchain technologies and decentralized processing.

Forward Looking Statements

This news release contains “forward-looking statements” which are not purely historical and may include statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan”, or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of blockchain and cryptocurrency products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.

CONTACT: Eric Jaffe, CEO
[email protected]
www.everythingblockchain.io

Investor Relations Contact:
RedChip Companies Inc.
Dave Gentry
Tel: 1-800-RED-CHIP (733-2447 or 407-491-4498)
[email protected]

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