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Ether Capital (NEO:ETHC) has announced it has reported its financial results for the three month period ended September 30, 2018 and period between January 11 and September 30. As quoted in the press release: All amounts are expressed in Canadian dollars. The third quarter included the appointment of new management of the Company. On July …
Ether Capital (NEO:ETHC) has announced it has reported its financial results for the three month period ended September 30, 2018 and period between January 11 and September 30.
As quoted in the press release:
All amounts are expressed in Canadian dollars.
The third quarter included the appointment of new management of the Company. On July 23, 2018 the Company announced Brian Mosoff as Chief Executive Officer and Stefan Coolican as President and Chief Financial Officer. In addition, on August 7, 2018 the Company announced the formation of an Advisory Board to provide additional expertise to the Company through the investment process.
Som Seif, Ether Capital’s Executive Chairman and co-CIO, said: “The third quarter for Ether Capital was one of continued positioning to enable the Company to deliver on its mission to be a central player in the Ethereum and Web 3 ecosystem. The challenges of the public markets in blockchain and cryptoassets are real, but despite the market weakness we continue to be excited about the development of the Ethereum ecosystem and by our prospects in delivering a focused way for investors to have a seat at the table of this exciting technology.”
Brian Mosoff, Ether Capital’s CEO, added: “Though valuations in the Ethereum and Web 3 ecosystem were challenging over the quarter, we remain confident on our long-term prospects. We have made substantial progress on our strategy and are looking forward to updating shareholders in due course as we evaluate and consider investments in the ecosystem.”
During the third quarter, the Company provided an update on vision and progress. It provided detail on its long-term business model built on three pillars: (i) asset management through holdings of Ether and tokens or equity of other projects, (ii) technology development aimed at decentralized application adoption, and (iii) ancillary blockchain services that generate income from passive assets.