Tokens.com Reports Financial Results for Q2 2024

Tokens.com Corp. (TSX-V: COIN)(Frankfurt Stock Exchange: 76M) (OTCQB US: SMURF) (“Tokens.com” or the “Company”), a technology company focused on building AI-integrated humanoid robots, is pleased to report its financial results for three and six months ended March 31, 2023 (“Q2-2024”). All dollar figures are in United States dollars (“USD”), unless otherwise stated.

Q2-2024 Financial and Operating Highlights

• Revenue of $286k and $505k, respectively, for the three and six months ended March 31, 2024, compared to revenue of $303k and $455k, respectively, for the three and six months ended March 31, 2023 (“Q2-2023”);
• $4.0 million and $6.6 million, gain on revaluation of digital assets - cryptocurrencies for the three and six months ended March 31, 2024;
• 117% increase in the value of digital assets - cryptocurrencies to $12.6 million, since the end of September 2023;
• Net income of $3.8 million and $5.9 million for the three and six months ended March 31, 2024;
• Basic and diluted earnings per share of $0.03 and $0.05, respectively, for the three and six months ended March 31, 2024;
• 55% reduction of operating expenses compared to the same quarter the prior year to $480k from $1.1 million; and
• 25% reduction of operating expenses compared to the same 6-month period the prior year, from $1.8 million to $1.3 million.

Conclusion of Strategic Review

On April 18th, 2024, Tokens.com’s management and board concluded its strategic review. Highlights include:

• The Company’s key domain, Tokens.com, was placed for sale in January 2024 with an ask price of $8 million;
• The disposition of the assets of Metaverse Group and Hulk Labs to StoryFire Inc., on March 1, 2024, in exchange for a 15.3% equity interest in StoryFire Inc., and $500,000 in StoryFire Blaze tokens (priced at March 1);
• A move from the CBOE Exchange to the TSX Venture Exchange, effective on March 28, 2024; and
• The acquisition of Simulacra Corporation (“Simulacra”) on April 8, 2024. Simulacra operates three subsidiaries focused on the integration of AI and high quality, humanoid robots.

“In 2024, Tokens.com underwent substantial changes in the interest of enhancing shareholder value. Our focus going forward will be to grow our presence in the AI-enabled humanoid robot market. Our crypto inventory will be retained as required - thus far, we have not sold any of our crypto in 2024,” said Andrew Kiguel, CEO of Tokens.com. “We are excited about the changes and are planning a rebrand and relaunch strategy to better reflect what we do in the coming weeks. Our goal is to get in front of as many investors as possible once in the coming months,” added Kiguel.