VANCOUVER, Jan. 29, 2018 /CNW/ - Neptune Dash Technologies Corp. ("Neptune Dash" or the "Company") (TSX.V: DASH) is pleased to announce that the Company has acquired three additional Dash Masternodes and acquired or earned 2,888 Dash tokens, for a total operation of 18 Dash Masternodes secured by 18,047 Dash tokens. Neptune exclusively builds and operates Dash Masternodes and invests in Dash Blockchain related technologies. Each Dash Masternode requires 1,000 Dash as collateral. The Dash Blockchain currently compensates Dash Masternodes at a rate of 6.86 Dash per month. Neptune's average price paid per Dash token since inception is about $CAD1,030.
Neptune estimates that annualized revenue in Canadian dollar terms from the operation of 18 Dash Masternodes is $1,496,880 (based on a current price per Dash of $CAD990 per coin).
"The three new Dash Masternodes is a great addition to Neptune's existing Dash Masternode portfolio. Shareholders should benefit from an annualized 20% increase in reinvested revenue starting immediately, and Neptune continues to pursue accretive transactions, including evaluating transactions in the proof of stake technology space," commented Cale Moodie, President and CEO of Neptune.
About Neptune Dash Technologies Corp.
Neptune Dash builds and operates Dash Masternodes and invests in Dash blockchain related technologies. Dash is a digital currency created to address Bitcoin's scaling challenges. Dash Masternodes facilitate the following functions on the Dash blockchain:
facilitating private, peer-to-peer transactions directly between parties;
serving as a governance function and voting on treasury disbursements of the Dash block-reward allocated to the Dash DAO (Decentralized Autonomous Organization); and
facilitating transactions that are processed near instantly on the Dash blockchain (versus the target three minute block time for average Dash transactions).
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or indicates that certain actions, events or results "may", "could", "would", "might" or "will be" taken, "occur" or "be achieved". Forward-looking information includes, but is not limited to acquisition of additional Dash Masternodes and Dash; the Company's projected asset allocations; business strategy and investment criteria; corporate governance standards applicable to cryptocurrencies; the rate of cryptocurrency adoption and the resultant effect on the growth of the global cryptocurrency market capitalization. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the construction and operation of Dash Masternodes may not occur as currently planned, or at all; the digital currency market; the Company's ability to successfully operate Dash Masternodes and securely custody Dash; revenue of the Company may not increase as currently anticipated, or at all; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company's operations; the volatility of digital currency prices; and other related risks as more fully set out in the Listing Application of the Company dated January 15, 2018.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to complete the construction and operation of Dash Masternodes; the Company will be able to profitably liquidate its digital currency inventory if required; historical prices of digital currencies and the ability of the Company to securely custody the Dash required to operate each Dash Masternode; and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
This news release contains future-oriented financial information and financial outlook information (collectively, "FOFI") about Neptune's anticipated revenues from its Dash Masternode operations, which are subject to the same assumptions, risk factors, limitations and qualifications as set forth in the above paragraphs. FOFI contained in this news release was made as of the date of this news release and was provided for the purpose of providing further information about Neptune's anticipated future business operations. Neptune disclaims any intention or obligation to update or revise any FOFI contained in this press release, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. FOFI contained in this news release should not be used for purposes other than for which it is disclosed herein.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Neptune Dash Technologies Corp.