BTL Reports Year End 2017 Financial Results

BTTL Group (TSXV:BTL) has announced that it has filed its audited financial statements for the year ended December 31, 2017.

As quoted in the press release:

The Company reported revenues from its Energy Trading Project of $372,927 (2016 – $410,670) and a net loss of $5,873,570 (2016 – $1,937,482) for its fiscal year 2017. The Company completed three financings during 2017 and had a cash position of $17,998,870 as at December 31^st, 2017. On March 30, 2018, BTL’s cash position was $16,700,000.

Highlights from 2017

• The key and critical pilot project BTL conducted in 2017 was the adoption of Interbit by a consortium of large European energy companies to track natural gas trades from the point of inception through to trade reconciliation (see the Company’s June 5, 2017 press release).
• The Company also filed patents on the Interbit platform and the underlying Hypervisor architecture (see the Company’s October 17, 2017 press release). Interbit is a new generation blockchain platform with “unique chain joining capability” with the capacity to inter-connect many thousands of Interbit blockchains.

Outlook

• The Company’s goals for 2018 is to focus on the release of Interbit, and its subsequent third party software audit. Supported by global marketing campaigns, the Company’s existing and growing customer base and extensive partner community is expected to drive user-adoption of Interbit.
• In further news, Interbit will co-host Coindesk’s international Building BlocksHackathon in New York City on May 12th, as part of the 2018 Consensus show. Together with IBM, Microsoft, Ethereum and more, Interbit will mentor, present and serve as a judge of the application building challenge hosting over 200 developers from around the world.
• The Company continues to build its professional sales and delivery teams to support commercial opportunities with customers in financial services, natural resource and supply chain verticals. The significant sales and marketing investment by the Company will also attempt to educate and highlight the differences between Interbit, a next generation blockchain platform, from the highly volatile cryptocurrency markets. Blockchain has been historically associated with supporting cryptocurrencies but the technology and wider commercial benefits of blockchain are far broader. Interbit is a technology platform that will result in significant and fundamental computing advantages over current systems and traditional operating platforms.

Click here to read the full press release.