Token Economy

Tapinator Announces Record 2021 Financial Results

Tapinator, Inc. (OTC: TAPM) (“Tapinator,” the “Company,” “we,” “our” or “us”), a developer and publisher of category leading games for mobile platforms and a collector and publisher of fine art NFTs, today announced unaudited financial results for the period ended December 31, 2021, and the filing of its annual report for the years ended December 31, 2021 and 2020.

The annual report and financial statements have been published on OTC Markets and may be found at http://www.otcmarkets.com/stock/TAPM/disclosure. The results provided below replace, in their entirety, any guidance or projections previously issued by the Company.

For the year ended December 31, 2021, Tapinator achieved record revenue of approximately $5.8 million, record bookings* of approximately $6.7 million, record net income of approximately $666,000 and record adjusted EBITDA* of approximately $1.6 million.  The Company’s annual revenue, bookings*and adjusted EBITDA* represent year-over-year improvements of 31%, 53% and 60%, respectively.  For the full year, the Company also announced record basic and fully diluted net income per share of $1.19 and $1.13 per share, respectively.

For the three months ended December 31, 2021, Tapinator achieved record revenue of approximately $1.7 million, record bookings* of approximately $2.2 million, net loss of approximately ($316,000) and record adjusted EBITDA* of approximately $590,000.  The Company’s quarterly revenue, bookings and adjusted EBITDA* represent year-over-year improvements of 39%, 108%, and 76%, respectively.  For the quarter, the Company also announced basic and fully diluted net loss per share of ($0.56) per share.

Ilya Nikolayev, CEO of Tapinator commented, “We are extremely proud of our record performance in 2021. These results are driven by our continued strong execution within our mobile gaming business, combined with robust performance from within our nascent NFT art publishing business. 

On the mobile gaming side, our products continue to perform as expected and we continue to release updates for our key games, including Video Poker Classic, Crypto Trillionaire and Lucky Lotto. We also recently completed development and launched Keno Vegas, a new social casino product that leverages the extensive foundation, including monetization and live operations systems, that we have spent years building out for Video Poker Classic.

With respect to our NFT business, we are focused on two directions:

1) NFT500 is our NFT fine art collection platform and corresponding mobile application.

To date, we have acquired approximately 380 fine art NFTs from more than 150 prominent artists such as Tyler Hobbs, Matt Kane, Bored Ape Yacht Club, XCOPY, Helena Sarin, Pindar Van Arman, Monica Rizzolli, Refik Anadol, Manolo Gamboa Naon, Kevin Abosch, Zach Lieberman, Pak, Anne Spalter, Snofro, Hackatao, Bruce Gilden, Justin Aversano, Claire Silver, Zancan, Matt Deslauriers, Nick Kuder and Damien Hirst.  We continue to refine, diversify and expand our collection and we view these digital assets as long-term investments within the emerging NFT art asset class.  We remain highly enthused about our collection and the assets that we have acquired to date.

The NFT500 mobile application leverages our years of experience in the mobile app space and was designed to extend the utility of the assets we have acquired, and to serve as a gateway between non crypto natives and the NFT art market at large.  While we continue to believe that the casting of NFTs onto displays at home represents an interesting long-term opportunity, given the limited early consumer adoption of the app, at this time we do not believe this product will generate material revenues in the near future.  However, given our belief in the long-term potential of our NFT casting technology, we plan on continuing to support and periodically update the NFT500 mobile application.

2) Our NFT Publishing business focuses on partnering with artists who have existing bodies of work and helping them enter the NFT space. There is a multitude of talented artists, including digital creatives and photographers, who would be a great fit for NFTs, yet lack the technical, marketing and curatorial expertise to succeed. The significant experience that we have acquired as collectors and operators within this area has put us in a position where we are able to assist.  We entered the NFT Publishing business in Q3 of last year and, to date, have successfully sold out several collection releases representing over 200 works of art from several artists. We believe that we have only scratched the surface here and are currently working diligently to further develop this business.”

Andrew Merkatz, President of Tapinator, also commented on the Company’s results, “We are especially pleased with the following operating and record setting accomplishments in 2021:

  • We achieved record revenue and bookings of approximately $5.8mm and $6.7mm, respectively, representing growth of 31% and 53% year-over-year, respectively. Our revenue growth was driven primarily by our entry into the NFT publishing business, while our bookings growth was driven through a combination of NFT publishing and strong year-over-year growth from our category leading mobile games.
  • Through a combination of strong top-line performance and an ongoing commitment to tight cost management, we delivered record net income of approximately $666k, representing basic and fully diluted EPS of $1.19 and $1.13, respectively.
  • We reported record adjusted EBITDA* of approximately $1.6mm, representing growth of 60% year-over-year.
  • Our adjusted EBITDA* margin was 28% during the year, up from 23% in 2020, indicative of the significant operating leverage we have designed into our business.
  • Within our NFT500 collection, we acquired 359 NFT artworks from more than 150 prominent artists whose works we believe, in general, are well positioned to yield significant long term capital appreciation. We also sold nine artworks resulting in realized gains of approximately $179,000 during the year.
  • We completed development of the NFT500 mobile app and casting platform, a cutting-edge product and a technically challenging achievement.
  • We initiated our NFT Publishing activities and successfully sold out several NFT art collection releases during the year. We have developed an active pipeline of art collection releases slated to launch throughout 2022.
  • We completed development on Keno Vegas, a highly promising new social casino title that we have recently launched.”

Current Outlook
We continue to have strong conviction regarding our mobile games business, and specifically our Category Leading Games.  Our investments within the NFT space are more speculative, but we continue to believe there are substantial long-term opportunities for the Company within the nascent Web 3.0 markets representing the intersection of NFTs, digital art, mobile gaming and the metaverse. Our early conviction regarding this market opportunity, which dates back to 2018, is now being proven out; according to market research firm DappRadar, global NFT Sales exploded to $23 billion in 2021.  We are not providing financial guidance at this time.

Non-GAAP Financial Measures*
We have provided in this release the non-GAAP financial measures of Bookings and adjusted EBITDA as a supplement to the measures of Revenue and Operating which are prepared in accordance with United States generally accepted accounting principles (“GAAP”). Management uses Bookings and adjusted EBITDA internally in analyzing our financial results to assess operational performance and liquidity. The presentation of Bookings and adjusted is not intended to be considered in isolation or as a substitute for the financial information prepared in accordance with GAAP. We believe that both management and investors benefit from referring to Bookings and adjusted in assessing our performance and when planning, forecasting and analyzing future periods. We believe Bookings and adjusted EBITDA are useful to investors because it allows for greater transparency with respect to key financial metrics we use in making operating decisions and because our investors and analysts use them to help assess the health of our business. Below, we have provided reconciliations between our historical Bookings and adjusted EBITDA to the most directly comparable GAAP financial measures below.  Some limitations of Bookings and adjusted EBITDA are as follows:

  • Bookings do not reflect that we defer and recognize online game revenue over the estimated life of durable virtual goods;
  • Adjusted EBITDA does not include the impact of stock-based expense, impairment of previously capitalized software or intangible assets previously acquired, acquisition-related transaction expenses, one-time financing expenses, contingent consideration fair value adjustments, share settlement expense, and restructuring expense;
  • Adjusted EBITDA does not reflect income tax expense;
  • Adjusted EBITDA does not include other income or expense, which includes foreign exchange gains and losses, interest income or expense, and gain on extinguishment of debt;
  • Adjusted EBITDA excludes depreciation and amortization of intangible assets and impairment of capitalized software. Although depreciation and amortization and impairment of capitalized software are non-cash charges, the assets being depreciated and amortized or impaired may have to be replaced in the future;
  • Other companies, including companies in our industry, may calculate adjusted EBITDA differently or not at all, which will reduce their usefulness as a comparative measure; and

About Tapinator
Tapinator Inc. (OTC: TAPM) develops and publishes category leading games for mobile platforms. Tapinator’s library includes more than 300 titles that, collectively, have achieved over 500 million mobile downloads, including notable properties such as Video Poker Classic and Crypto Trillionaire.  Through our wholly-owned subsidiary, Revolution Blockchain and the NFT500 platform, we have amassed a significant collection of what we believe are “blue-chip” fine art NFT’s, and we have developed and launched a mobile application that extends the utility of these digital asset investments.  We generate revenues from our mobile games via consumer transactions, including in-app purchases and subscriptions, and through the sale of branded advertisements. We also generate revenue from publishing and selling NFTs in partnership with select artists. Founded in 2013, we are headquartered in New York, with product development, design and marketing teams located in North America and Europe.

To the extent that statements contained in this press release are not descriptions of historical facts regarding Tapinator, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “goal,” “seek,” “plan,” “feel,” “opinion,” “may,” “will,” “expect,” “anticipate,” “estimate,” “intend,” “target,” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements include, among other things, our view that our NFT art digital assets are long-term investments within the emerging NFT art asset class, our continued belief that the casting of NFTs onto displays at home represents an interesting long-term opportunity and technology, our plan to continue to support and periodically update the NFT500 mobile application, our belief that we have only scratched the surface of the NFT Publishing business, our belief that we are well positioned to yield significant long term capital appreciation within our NFT500 art collection and our continued belief there are substantial long-term opportunities for us within the nascent Web 3.0 markets representing the intersection of NFTs, digital art, mobile gaming and the metaverse.  Forward-looking statements are subject to risks and uncertainties that could cause our future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Except as required by law, Tapinator undertakes no obligation to update or revise any forward-looking statements. The quoting and trading of the Company’s common stock on the OTC Marketplace is often thin and characterized by wide fluctuations in trading prices, due to many factors that may have little to do with the Company’s operations or business prospects. As a result, there may be volatility in the market price of the shares of the Company’s common stock for reasons unrelated to operating performance. Moreover, the OTC Marketplace is not a stock exchange, and trading of securities on it is often more sporadic than trading of securities listed on a national securities exchange. Accordingly, stockholders may have difficulty reselling any of their shares. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company, please see the Company’s Supplemental Information Report as filed with the OTC Markets on October 20, 2021 and as updated from time to time.

CONTACT:
Tapinator Investor Relations
investor.relations@tapinator.com
914.930.6232

SOURCE Tapinator, Inc.

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Metatron Inc. Corporate Debt Restructuring and Launch of New Artificial Intelligence Applications Division

Metatron Inc. (OTC Pink: MRNJ), a mobile and web technology pioneer having developed over 2,000 apps on iTunes and Google Play, is pleased to announce the Company is presently working to restructure corporate debt obligations in addition to the Company officially launching an Artificial Intelligence Application Division within Metatron, Inc.

The Company is presently working in good faith with debt holders to consolidate, restructure and improve the Company’s debt obligations. The more favorable terms and consolidation will assist the Company to improve and streamline the Company’s balance sheet and financial reporting. Details of the restructuring will be announced upon final completion and execution.

Having years of success in the mobile and web technology sectors, the Company views Artificial Intelligence (AI) as the unbridled beast of future technology growth. The Global AI market size was valued at a mere $65 Billion in 2020. Growth projections put the compound annual growth rate at 38% through 2030 when the industry is expected to reach a whopping $1.58 Trillion according to Allied Market Research.

Demand for intelligence systems is forecasted to have tremendous growth, propelling the worldwide market for AI. North America dominated the AI market in 2020 and North America is expected to continue to dominate the industry in the coming years as high expenditures AI solutions are expected by both the government and public sectors.

Metatron is assembling the new division so that it may focus solely on AI solutions.  The team being assembled will be headed by a team headquartered here in the United States, coupled with programming experts around the globe. The Company has already formed a Division Launch Committee (DLC) and preliminary meetings with project managers in Europe include discussions on assembling programming teams throughout North American, Europe and India.

The Company looks forward to providing additional updates on the newly formed Artificial Intelligence Application Division in the days and weeks ahead. Metatron is fast tracking the launch of this new division as it seeks to gain a strong foothold within rapidly expanding industry. The Company expects to announce the development of its first AI product during the month of September.

Forward-Looking Statements: Any statements made in this press release which are not historical facts contain certain forward-looking statements, as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results of the specific items described in this release, and the company’s operations generally, to differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company’s need for additional financing, which is not assured and which may result in dilution of shareholders, the company’s status as a small company with a limited operating history, dependence on third parties and the continuing popularity of the iOS operating system, general market and economic conditions, technical factors, receipt of revenues, and other factors, many of which are beyond the control of the company. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of such statements, and we disclaim any obligation to update information contained in any forward-looking statement.  Metatron does not grow, sell or distribute any substances that violate United States Law or the controlled substance act.

Contact:
ir@metatronapps.com

Marvion™️ Metaverse, Working Apes, and Digital Ownership Tokens took Hong Kong by storm at the Hong Kong Computer & Communications Festival (HKCCF) 2022

Bonanza Goldfields Corp. (OTC:BONZ) is pleased to announce that Marvion™️ was invited to be the metaverse partner in one of the largest and major exhibitions in Asia for computer communications and electronic products, the Hong Kong Computer & Communications Festival (“HKCCF”), that took place August 19, 2022 to August 22, 2022.

About HKCCF

The Hong Kong Computer and Communications Festival is an annual event organized by The Chamber of Hong Kong Computer Industry to showcase the latest technologies in the tech sector in Hong Kong. As one of Asia’s leading Technology Innovation Hubs, the primary objective of this year’s festival was to feature the metaverse and unravel its mystery.

To achieve this goal, HKCCF introduced live demonstrations of on-site virtual platforms, a virtual Ocean Park, an AI (Artificial Intelligence) x AR (Augmented Reality) service platform to experience 3D online entertainment, and more importantly, the debut of the Marvion Metaverse!

Patrons were able to explore the possibilities in the metaverse showcased at HKCCF,  shop for a wide array of the latest tech products and experience firsthand the latest tech trends. This year, more than 200 exhibitors participated in this festival, occupying about 600 booths, and an estimated 500,000 visitors attended, with many such visitors being able to witness the debut of the Marvion Metaverse. The conference expects that this year’s sales will be the same as last year, maintained at HK$330 million.

In line with the development of the Digital Transformation Zone, the festival organized a summit exploring Web 3.0 development. The summit themes were “Digital Transformation” and “Emerging Technologies” respectively. The conference invited industry elites to share their unique insights, jointly explored the challenges faced by local enterprises in the transformation and used various types of cases to explore the trend of the future.

Showcasing the Marvion™️ Web 5.0 to the Public 

Of the various tech groups showcased at HKCCF this year, XBE is one of the leading Web 5.0 application technology groups globally. Its main operations include helping companies, both new as well as long-established traditional industries, to become one of the first movers into the Web 5.0 space. On the other end of the spectrum, HKCCF also showcased Marvion™️, a success case in the media and entertainment industry notable for the successful deployment of Digital Ownership Token (“DOT”) technology.

In HKCCF this year, Marvion™️ joined forces with XBE to debut for the first time the “Marvion Metaverse” to the public.  Visitors were able to indulge themselves in the metaverse to play games and interact with other live players. 

In order for participants to take their experience with the Marvion Metaverse beyond the exhibition, participants were able to obtain a “WAPE” DOT (Digital Ownership Token), which had a global perpetual commercial copyright license to the Working Ape (WAPE) PFP (profile picture) embedded into the metadata of the DOT. In addition, visitors were also able to interact with Marvion™️’s virtual KOL (Key Opinion Leader) character.

Through their experience with the Marvion™️ Metaverse and the distribution of “WAPE” DOTs, Marvion™️ and XBE successfully attracted a growing Gen Z community and facilitated their reconnection with Hong Kong after a trying past few years.

Our Vice Chairman of Marvion™️, One of the Line-Up of Speakers

Julian So, Vice Chairman of Marvion™️ and a speaker for the Web 3.0 Summit in HKCC noted that “incubating new and mature companies into Web 5 powerhouses is the right path in this digital era as Gen Z’ers are poised to be the single largest group of consumers worldwide and who will have a great impact on the world.”

Commenting on Web 5 as a Service (5aas), Kevin Tan, CEO of Marvion™️ stated that “Marvion™️ aims to gradually build a community around 5aas by initially releasing a small collection of WAPE DOTs. Owners of a WAPE receive a global perpetual private and commercial license to the PFP, documented and embedded within the metadata of the DOT. The holders of these DOTs can commercialize these rights. Each WAPE DOT can be expanded into merchandise, animation, short films, and the applications are both wide and diverse. We remain committed to adopting and implementing Web 5.0 technologies in a responsible manner to disrupt consumers’ experiences in the metaverse, enhance efficiency and productivity, and ultimately improve people’s lives. The possibilities are limitless.”

“Millennials are members of the first youngest generation more interested in gathering experiences than acquiring more material possessions. Gen Z’ers are even more interested in authentic experiences beyond the product or the brand. We see the DOT as a powerful tool to be used in the development of these strategies. The Marvion™️ Working Ape project seeks to provide a solution to the current NFT market to work with the community that embraces technology and experience. The WAPE DOT offers real-world value to its holders”, says Ms. Marsella Cheng, PR director of Marvion™️. 

For more information on Marvion™️, please visit www.marvion.media.

About BONZ

Bonanza Goldfields Corporation is a Nevada holding company that through its subsidiaries are engaged in the media distribution business. Specifically, we provide authentication, valuation and certification (“AVC”) service, sale and purchase, hire purchase, financing, custody, security and exhibition (“CSE”) services to buyers of movie and music media through traditional channels as well as through leveraging blockchain technology through the creation of digital ownership tokens (“DOTs”)

The group is building an ecosystem and a metaverse for the media and entertainment industry that implements and adopts blockchain and NFT technologies, through mergers and acquisitions.

About Marvion™️

Marvion™️ is a metaverse technology company in the media and entertainment industry, focusing on movies, drama, animation, comics, music, and games that provide content and entertainment to adults and children alike. Although most media and entertainment content are digital in nature today, they exist in the real world as intangible assets, such as intellectual property, licenses and contractual rights, with intrinsic value.

Marvion™️ applies blockchain and NFT technologies as tools to disrupt and improve the existing media and entertainment industry and its current practices. The technology underpinning NFTs (non-fungible tokens) has multiple functional use cases, some of which have the power to transform our societies, and some of which may be subject to regulations. Marvion™️ uses NFT technology solely to create a legally-binding digital ownership token (DOT) to both tangible and intangible media and entertainment assets, which our analysis suggests would functionally fall outside any regulatory perimeter.

More Information about Marvion™️:

Website: marvion.media
Facebook: facebook.com/marvionmetaverse
Instagram: instagram.com/marvion.media
Twitter: twitter.com/marvion_media
LinkedIn: linkedin.com/company/marvion
Telegram: t.me/marvion_media

About Hybrid DOT (h-DOT)

A h-DOT is an integrated, best in class, digital ownership token (DOT) that contains a smart contract that can execute transactions and also contains the specific legal terms of the intellectual property ownership, license and/or rights. Each Hybrid DOT (h-DOT) contains the following:

  • A copy of the SPA for the purchase of the master license.
  • Evidence or warranty of ownership of the relevant intellectual property.
  • Ownership of the sub-license detailing the rights of the h-DOT holder.
  • Image/video/music or other file depending on what the asset is.

For media queries, please contact:

Ms Marsella Cheng
Director, PR
media@Coinllectibles.Art

SOURCE Bonanza Goldfields Corp.