Ether Capital Corporation Reports Second Quarter 2020 Financial Results

Ether Capital Corporation reported its financial results as at and for the three months ended June 30, 2020.

As at June 30, 2020:

• The total value of the Ether held by the Company was $9.9 million 
• The total assets of the Company were $13.2 million
• The Company had an accumulated deficit of $32.9 million, the majority of which represents a non-cash unrealized loss on the value of Ether
• The Company recorded earnings of $0.15 per common share for the quarter ended June 30, 2020, the majority of which represents a net gain on the fair value remeasurement of Ether.

As at August 12, 2020, the total value of the Ether held by the Company was $16.7 million.

Brian Mosoff, Ether Capital’s CEO, said: “We are closer than ever to Ethereum’s proof of stake network upgrade as milestones continue to be hit in anticipation of a launch towards the end of 2020. Proof of stake allows holders of Ether to perform Ethereum network validation services and earn an Ether-denominated return on such services. In this regard, as a holder of Ether, Ether Capital may begin to earn a yield on a portion of its Ether holdings that it devotes to network validation. Final details on proof of stake have yet to be determined, however, and we will update our shareholders in due course on our plans relating to proof of stake.”

“Ethereum remains a robust developer platform that continues to see impressive activity, particularly most recently with applications focusing on decentralized finance,” continued Mr. Mosoff. “While we are excited to see the rest of the year unfold for Ethereum, we are cognizant of the challenging global environment due to COVID-19.”

For condensed consolidated interim financial statements for the quarter ended June 30, 2020, 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.

The Company’s condensed consolidated interim financial statements, along with the accompanying management’s discussion and analysis have been filed on the System for Electronic Document Analysis and Retrieval (“SEDAR”) and may be viewed under the Company’s profile at www.sedar.com. 

About Ether Capital Corporation
Ether Capital is a Toronto-based technology company whose long term objective is to become the central business and investment hub for the Ethereum and Web 3 ecosystem. Ether Capital has invested in Ethereum’s native utility token “Ether” as a strategic asset, and selectively invests in projects, protocols and businesses that leverage the Ethereum ecosystem and Web 3 technologies. Founded by a highly experienced Board of Directors and management team, Ether Capital has the experience and relationships to support businesses and invest in industry-shifting disruptive technologies. For more information, visit http://ethcap.co/.

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