GoldSpot Discoveries Announces Net Loss of $8.9 Million in Q2 2022, with Consulting Revenue Up 35%

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(Kitco News) – GoldSpot Discoveries (TSXV: SPOT) today announced a net operating loss of $8,902,184 in Q2 2022, resulting primarily from the investment portfolio compared to net income of $12,713,894 in Q2 2021.

GoldSpot’s net investment losses in Q2 2022 were $8,083,620 from its investment portfolio, compared to net investment gains of $16,003,092 for the quarter ended June 30, 2021.

The company also reported a net loss and comprehensive loss of $8,902,184 ($0.07 basic loss per share) in the second quarter of 2022, compared to net earnings and comprehensive income of $12,713,894 ( basic earnings per share of $0.13) for the three months ended June 30, 2021.

Importantly, the company said it increased consulting revenue to $3,376,124 in the second quarter of 2022 from $2,490,739 for the three months ended June 30, 2021, an increase of 35%.

GoldSpot added that for the current three-month period, through its recent acquisitions of CEO.CA Technologies Ltd., Geotic Inc. and DigiGeoData, the company achieved advertising and subscription revenue of $450,019, sales software licenses of $129,489 and sales of digital products. $53,000 cards.

GoldSpot Discoveries is a technology company that uses artificial intelligence to revolutionize the future of global mineral exploration with a comprehensive suite of data and insights driven SaaS tools and services.

According to the company’s website, GoldSpot works with industry leaders in all types of commodities and deposits to identify new exploration targets, develop advanced technologies and strategically invest in exploration companies. mining.

Disclaimer: The opinions expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. This is not a solicitation to trade commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article accept no responsibility for loss and/or damage resulting from the use of this publication.

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