CWRK - Earnings call transcript Q1 2022

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Rolly Bustos

Yes, I'm just going to start here for people looks like they're just starting to file on.

First, I want to watch so apologize, a little bit of confusion there. The press release. And welcome emails both had a 1:15 Pacific start time, we realized that the registration itself had a 1 PM start time.

So some of you may have been sitting on the line for a little bit here.

but going apologize, one give do minute. more we we're to just it So some to more then for quick Very people to we're file start. going and in Thank you. sake to I sitting been the started we're right, on for going waiting. All for that think patiently the of line have time people get QX to earnings and welcome XXXX Greetings, the CurrencyWorks call. been very in we're here, business even busy these a markets. building since last our while it's over Though, update, been challenging we've our know, is Rolly My name as you Bustos. Relations Investor of I'm at CurrencyWorks. Head the here I personally you our welcome each one to call of today. Today's previous call format will follow the ones. same as They'll quarter this the earlier start Kakumanu financials their with will our highlights Swapan reported we week. Chairman Chell discussing the CFO, discuss as operational first jump and in from

questions call submitted during week. that be submitted We earlier and to live, will were portion, then will with the the or the end that this Q&A us were ones sent include which will

As at always, reach me to you're welcome always ir@currencyworks.io. out personally to

Cam, ahead? ado, go can please further without Now you

Cameron Chell

Right. Thank you, Rolly. everyone. Thanks, Swapan. Thanks,

I course, thank highlights, going of Directors, foremost, wanted we'll going our reviewing Board though, the employees, productive and today on we found as customers, our which talk have to the business model time. then of and to incredible been lot quickly shareholders. our their of most Swapan I'm a and everybody to time Q&A consideration to not including our financials, touch have I really get time am we'll then First some our and through today, spend and as possible, for

revenue set record the to model had our quarter absolutely and We an really everybody. for So foremost, for numbers forward. going congratulations first and blockbuster foundation us

here to us going walk of a throw So a through and deck. I'm my bit on screenshare just

the blockchain that So and future we building feel CurrencyWorks the digital is commerce. of are we a

We're on we order technologies, is regulatory building has blockchain and utilize blockchain focused and CurrencyWorks customers say with nonetheless decentralized in in underlying or blockchains there private public focused out compliance. other opposed have the of to high a the blockchain a value proposition compliance. are that we really regulatory they operate other to that that are them blockchains of technology or as for to on really private degree working blockchain Now manner private

on a brands your alcohol client IP rules to registrations that things payments like for need rails, OFAC, understanding laundering like cannabis or payment very SDM, that's to really capability laws, So rules or money succinct manage know things regulations, or and have comprehension property. firearms or and a an intellectual state-by-state

this world. were learned in days we building of rails so the we were that build were that the the compliant. rails that rails back the to And in when because regulatory we payment so had built chosen was payment gaming we And successful one reasons

with is capability, and industry the line industry. seeing more at companies of is that what compliant look assurances best regulatory that now that a audit and this that all of business in a So mainstreaming, is we're their as these use particular organizations their are blockchain to possesses mainstream crypto practices tracking the as catch industry I'll that more capability and having

in focus blockchain. the particular three we So areas on

operating systems metaverse First designing so of a of core is is infrastructure environmentally developing fundamental providing rails Metaverse Metaverse low decentralized. which transactions, so area build And the customized fact cold based one friendly in the blockchain we in course is in the the can of storage cost power is payment and that and and generation.

traction on. working is Metaverse and areas the that's you've are whole decentralized capability significant all, certainly a And we three second are where So NFT trending. two Metaverse on, build is that a compliant. blockchain. got regulatory toward focusing that are future necessary you Those that and things of need we've to These got a

spend So terms building time future not the in going I'm any blockchain. to of of here

company, to believer of if a of enough we're a have think its along shareholder, the the the in been. stakeholder think blockchain or and though been But with lucky environments, applications in as a happening haven't blockchain blockchain regulatory blockchain, quite quickly. advent many that's has you're compliant you mainstreamed, CurrencyWorks I I do like

The other of area team. touch is to our I base on do want the strength

We the So organization organization. we an coding in have We started started in XXXX. XXXX.

as been ecosystem advisors, We and almost a Board together And crazy for space in have just of customers. worked our we've of leaders that management decade, not earlier, absolute or some of in XXXX the building of but XX already have it's got Directors. the since terms work years, part through this almost just out

Our we build out to for us, our clients have upfront we for that fees. that or that basic basically come costs things model cover And for revenue look our and we we opportunities is to do look the this. development When customers.

for However, is we the technology our that and license more a build towards model interest much out. a ongoing geared having

revenue several it technology license operating we blockchain out well. built at We're holds is reoccurring and So to their on us. for creating these environments as very the also and adept organizations base and different a several our now that applications keen

it, platform. So we not that platform of us for which you well, that do the instance, or organizations per Barrett is other may top take the our platform, lower more The Jackson our we interest per important that lower on something the with only actually the our we transaction, an like happens. of in as have build cost them but continuity of cost terms equity in NFT really and operate we scalability

can easier can we the do, scale. so the And more we actually, that operating

So we've of. stable in never the which the probably this The past. that is done, quickly, the let's coin transactions most the of Freedom Gunbroker about very talked that there runs transacted Coin, It some you've just primarily marketplace. I've out talk about heard

then can wallet, the that a that's other are there different are of rail. white you up itself or open that customers whatever any might Coin, moment, happens what wallet of if the move anybody has do ACH there, crypto And depending different it. payment, it overarching set weeks these you wallets up with in for with it, what onboarding or experienced wallet, particular payment or Freedom you and of payment what crypto you up on have brand, easiest However, sometimes, open with make online. Fiat to and When crypto many And the labels. make can in, around now that actually our wallet. at when takes to do other -- state actually that environments many that that number a country can't type wallet. or the you're out It And the you crypto basically and you're credit trying is, brand crypto is a up opening purchases have And brand that customers in use card signup process you can purchases a things.

it. Some banks do

minutes And literally for and is between sign XX to don't. Some somewhere universal. this. takes it three This up

is cannabis here. our about or just ago. all So we the quite big announced recently excited onboarding undergoing We future of in time recently retailers five the some we're that's just announced California, CaliCard of this a But And CaliCard underway piece work going largest we forward. really actually CaliCard. announced

movie International sweepstakes, of go number we'll Motorsports a with dozens entire Motoclub refer really XX are of other that the incredibly becoming up. business also card but onboarding this it's platform. technology-based not Fame, Julie payment our seconds in that's Hall I use in technology cannabis suggesting rights applicability a brands this of brand We're IP without of of we we're platform that kinds are that phrase, Jackson, on space car is probably It distribution, to Cannabis They based a have really collector forward and We're takes the site. are globally, for biggest pretty in have the instantly industry. being manage work the these a car, the These out fantastic auction piece knowledge opportunity own we And only is I we've an cash. the physical I'm with and including it's busy is And debit which to the It on we some of NFT Hollywood about that allows compliance management. a to this We can and won't drivers there to able create to would accept others certainly job Jackson, marketing own states easy-to-use. the particular to our of is rails signature across But of if [indiscernible] And cannabis movies it. this that largest an this to for world probably can probably different bespoke, at important CurrencyWorks automotive be part us partnership at acts part on this that, announcing can a say a in in particular my huge our where others we this platform. a what isn't be retailers card And NFTs. organization with. about blockchain other really and be to this. shortly. rights set and But is about done blockchain of on NFT. now it, delivering We movie Certainly, as not the did and having market, announced and creative loyalty think we teams this, you development virtual applicable. terrific so point. for Barrett the now the people of learning thing absolutely other This our as has to is car probably course, name it's blockchain major accomplished a because in space. organizations all And of federalization community demonstrating now, I accept excited NFT lock, what the, organizations. the currency. see basically look the the and -- can where as mechanism in solid incredibly, Barrett takes this five IP operate it some that right to issue point, launched you

of We have purposely the announced studios. how to IP time with the to to how work movie, how quite domestic learn all distribute this. that work to we bought rights, recently, taken to And code a the just the Lionsgate to rights with movie, lot the how

more lot it's So a content and driven to the really big for table. our success us

the there's have doing really a to big such out. And so announcements cases, going this least platforms regard. organization at things only deliver executed, out the we some in to three the the the said lot actually we're and people three one get and to The organization they're in we categories, most to MusicFX talking for only about fact, all our the deliver. And going two a and that that we able been feel what we're underneath with There the exciting really shareholder of of continue noise part, covers, to thing major for in that's of of coming Also several all that of when actually build in lot the you is area. and And in in forward is credibility value. platform. look well that launched, this we do

we not Michael and Parker got club, we've content, of just and player at Hale, to again, a interviews, like and they virtual can special get get buy look then also that and do and the people environment. concerts they such. McCollum, board. towards things where What that we've concerts they a artists into they So music announced got But being we it's Ray, full now with to moving get videos, able other is and forward get got releases, -- MusicFX early coming passes dozens on we're are memberships, virtual And really side just now you festivals. launched all

actually of NFT the utility So market. block NFT deep just Not future about a the of art, really you're of or -- is real those is NFT to the NFT something. building it's clip a And and that holds holders. And the of value we're metaverse. because an picture a building the that because delivers of is not little but this excited like really getting NFT block necessarily tech just

of realizes block So thing most be be It NFT's makes isn't be music, world the It can in was to deal big, NFT's view isn't and forward. you can I are it going a the a email NFT experience, a it can it unique XXX% think that one internet, can can anything movie, the verify ownership. to an implications our the ticket, sell it the and your just That's something that blockchain a It bigger of it's necessarily digital is can than big anything. be are that thing. be can what metaverse.

becoming that but area other the it's talked exciting about, a lot the infrastructure. really for we company haven't our is Now

have we energy, crypto is zero what we so which And a call solution. zero, developed mining

literally, it and through wells biofuel to other we side any that garbage or then designed, the and put be may out case municipality that comes without or from miners. so And used carbon we've can emission a whatever end and organic, power take be the biofuel can oil crypto the somewhat process

actual as So not our there, then that zero fueled is the gas it's nominal mining. to absolutely a an next example, but mechanism. blockchain carbon none generation energy by energy and has footprint then private From be only into also fees, can put miniscule

is seeing to methodology machines.” and at miners that other of the a saying, in “Hey, or power to for several order what in so would we're organizations, us looking like approaching and of to municipalities from use we mining number we're regard what cost are we this our do other now. So right opportunities everything And mining now

value unintended for an be could coming our entire the is shareholders this a stream, year. significant consequence add So of new an that it revenue and in technology

doing some because Just work related would work way pipeline in metaverse. the on in that is the we're suggest of now the right to most I the want terms to metaverse, coming of that touch in

compliant, different because infrastructures currency and build property. a to And to that got we but we organizations, but they things private as looking of how lot well like yet us in so work, coming that of their works we types to looking blockchain, terms our develop we've NFT development on of have organizations more NFT's top are as can for manage flexibility as the do IP are also ensure they're do

to that talk it turn basis which the revenue am but they're their over that ensure working organizations And a movie us to to the economics just as of generation. relates got example doing with out now of it are others knocked help park. quarter and it they table, because Again, disclosure note, the to where of you've forward is IP they to to go we so Lionsgate, really bringing is, movies on I and compliant that really, going in are and about great can fair those the manage a that know space, like the all On Swapan? Swapan rights. important

Swapan Kakumanu

have you, and XXXX joined in CurrencyWorks thank this Cam, Thank on investor QX who everyone you call.

statements, Cam to there the think forward-looking Just just usual, about I presentation able it. obviously, be for be so of that. And bit wanted I to remind be remind available, everybody that please to as be see will started a the presentation. are you'll cautious listeners want forward-looking statements, entire quite as The us. the important could

a is here. $X.X cash cash The slightly million is we I'll up QX. this with bit and some financial because compared highlights our March which as So had of the on in which a the is I've end which for movie That Cam a balance think X.X accounting off is through sheet subsequently together in a goes in through we value about Cash, on fair quarterly on $XX,XXX warrants have on at The quarter on portion with as in derivative our And value we end is purchase is we talked The the our balance non-cash year. receivable do are the exercised, to dollars. we liability issuances here. that than increase balance on past. buildup entry quickly was had assets that the through of of for explained I'll of to this there the for of -- we QX receivable balance Lionsgate that is to to times basically quarters other liability, equity non-cash Mainly, We go the that best which said, we outstanding, standards is once XXXX of there reduction share we a outside of USD, $XX,XXX. put significant share they some company. basis. of share assets did highlights rights on couple of reason then, part little at section. or we've at we this for into on QX. end. which sale warrants, all total been either us is, the QX X.X. liabilities March designated we That and that collected Since compared cash if of March the we run it's that, one was Total which the $XX,XXX way in liability did, those Canadian [indiscernible] accounts have the an There $X.X is denominated a expire the XX XX, when ended related that XXXX the some warrants to and raise which of a get in the sheet. really get have we total the conversion, were liability, derivative And in sheet million. we closed good into a is

the at but liabilities the it's seeing now to day, and up what those there. are of is warrants not time fluctuation are elapsed, has show see that end exercised you're really reasons So reduction the on getting is the one material, of you as it the

better end. of a capital March negative end net On but the at XX, working net comparatively year than had working capital, the we the

closed of compared or the year. rights million I the as same accounts and less the a mentioned on revenue all the of due quarters. end the see, the negative QX revenue X.X more or net sales capital to mentioned. has recognition the is we quarter X Contact, sale and net middle increase million impacted started up number X.X the capital Cam to The that's obviously, been to XX, amount holdings our the revenues, also one the around and at Zero cash have XXXX. of our XXXX. of to I the just receivable subsidiary. XXX,XXX negative working our correlation is And our bank to off on since it chunk statement of from can have think balance Quickly of As you about of I XX, we in positive one several the revenue expenses putting had it's largest end that Operating closed three XXX,XXX effort gone of compared to increase part of to think, with that these a be negative movie big hand of we you NFT we compared And And is in working last four platforms Obviously, the, a we XXXX. can all amount time of of December as representation direct the since projects December fair on the platforms. of the see, income which million, off is is have

rest fair remind And The So positive for and to million statement. really flows last that is we of reason same was had because the X.X compared that's compared the million negative reason year, $XXX,XXX last negative operating the net I negative XX, increase quarter XX.X for Other for for majority was quarter year. the XX, derivative that liability, our value expenses last to rights interest for want that non-controlling compared basically it XXXX the compared a quarter income XXXX income the big for the expenses, million to derivative I'll of compared the I a $X,XXX March XXXX, to was income that X.X positive loss highlights, of that loss same through the we XX, XXXX. interest had quarter XX Again, last think expenses That's for quarter us March the obviously fluctuation $XXX,XXX year. had the the The $XX the last gives I remind This the -- to other huge on last was to income to that XX.X the leads quarter is at of Again, negative for which to loss a million much the for of loss us of want increase with expenses, the to recognition because back XXXX. and we million $X.X sale of million, reason quarter continue year. last the to pretty the March of that give the presentation. the statement. cam of million net movie it in quarter, non-controlling to liabilities.

Cameron Chell

portion we've Thanks, when off the Swapan. of couple did off was the appreciate the fees off here Really Swapan sold actually all it. mention And the not to that explanation. that, collected about the having is just for rights did all the Great we movie, A international on we've to was domestic rights. talks NFC of we things the movie, sell sell upfront rights, it.

will come and So are the it rest all to for years still not all come, of all the for the movie next accounted earnouts, the share, years from here. the obviously revenue

we're really excited out about So turned for this us. how

was we of for onboard. years. just And a literally that that can to the think that to venture our continue And ready been now be has profitable movie. got dozens we've we're just us and profitable pieces start first of the fair judgment to over I content and relatively make now

and it's development on happening we're doing exciting as as of of time be type for development same platforms, the and work announcing that see for a So of customers maturing we'll us. our an understanding And we here number shortly. all new that well that

So Swapan great the very thank to you much team for work. and

still based doing But companies though out types not and are there, in do a and companies equity Dapper, If we that, highlight this or for our of the the to development do. look of the with $XX the to-date, business. raised raised technically if the under stage we that they the look just million have hundreds millions on we're we think to XX hundreds. we in comps that's shares really is the even competitors doing that they're other -- I'd and And revenues. And important both public only thing with, we've marketplace, don't comps have private at outstanding. of have I we're really million exception it, really and -- able of they're somebody what and been terms in of still are at competitors hundreds not I how their we they that mean, They've dollars, companies. traction say like working

I team results. just want we're business And actually to so we produce shareholders at platform. go for really to throw means manner, our And running ROI it, what as forward. incredible excited and looking it bootstrapping I'm out dollar, this this really for an the building, the every a determining That's to able what about in having

capital we've good minimize job as really possible on done really, as raises and focus think the I a to to value.

out But So say the I out we for XX but warrants. the they're all money. of million of shares also money. all the well, shouldn't of most well all outstanding, They're options have part,

had And you And questions to the do Rolly to to know building. value to created. that our the certainly of XXX or our we share as on team But I that the now. sheet think price from insight to so have Again, that as And put so. tough everybody we've work at I'll not for turn diluted, at we're our well. you'd amount significant the us to markets right thank On presentation capital going want cash note, I continue if that's or a Rolly? provide we're success today. million to able really for now fully what be shareholders. the were and have I balance and to look it to over are reflective, is

Rolly Bustos

Cam. Thanks, right. Great All presentation.

think basically live all covered come questions week, quite you've in, ones them during to get the and really any of be we've answered got I things. frank. didn't We you've the most that have

just give get here. some have the color more first you to you metaverse? involved with have So on plans Do one the maybe I'll

Cameron Chell

that half recognize. pipeline, metaverse of all like The all probably our very right driving inbound. And Yes. now. would big names And it's is brands, pleasantly, it's you

involved with it. the is be the actually But I really a have organizations establishing need five to or people in relatively we've to trusted sales work And the other and And risk we're can things got word, brand work business. you've and And So of name, disruptive have that hard folks the that the that get because last us. of new marketing a a work from done over years, quickly know terms Counsel's done brand General that with, the to to five as think the manage years involved bizdev of when what's the very not being plus when with. technology they hard, bit to it's the a start a the you road, usually to rubber of the hits we've for to moving last customers. talking and those that are CFO referred the ourselves

of or the seamless again, and important blockchain they're compliance, able be is be super rails, blocks projects. looking to NFT's that a numbers their be and do not that important. an looking blockchains to all ability order that and can infrastructure payment to head wallet, are So can integrate we so And a aspects at deliver. projects. again, to But crypto have of that NFT have number a that to shouldn't tending very for can a in customers between building support with we're that say incredibly and those probably metaverse exact numbers, that interoperability metaverse that but core sold, yes, I those other are

Rolly Bustos

you. thank Great,

platform? Zero Contact, are trying to shows You more to talked about this success any platform we that before the about [ph] and the add movies or [Uli] of

Cameron Chell

Yes.

the industry, bunch is this Netflix people a with be of an our it's more have we so those type getting pieces other teams platform one, So onboarding of NFT struggled the that Uli with learning whole because additional of learning experience, revenue up or focused and be credibility should back compete providers, one, on Hollywood, really, then and to the stream and for really content, couple of strategically another should that it start key a add any with of board and and then Netflix-ish of a deciding, forth, an we content doesn't we that get with then the building platforms. way. build It's business, content,

to today, elected doing one it's think credibility sit in Los work. it's really quality differentiator we're now. do been a questions around In to off. and time, opportunity seeing the the storylines. for that A with and it movies Angeles platform that And us be And we're these it. our that's well tough them. into to pay bit, So Nobody really I over asks the actors content year. of can going to And do we A so bunch other in going do all onboard this we've of big at areas. And referred incredible if IP, to The answered right And now meetings. amongst a work, in we we've we've pleasant fact, And time, nobody I'm that a see asks, eight have a big, next just,

Rolly Bustos

yes, you on you slide already move maybe question is give if Great, Zero, Can ahead a that? here Bitcoin with more asking in about we're our little earlier thank that talked you. of color, bit Well, is, the mining us we next are. project going timing to

Cameron Chell

markets to Yes. those back interesting, on We We see of because the now was of It of technology, we power starting between of things. couple cities so is electrical not are from I that which the quarters, and just into grid. markets, which deregulation pretty municipalities, significant be some electrical counted and the that. something looking some us start in and is for ever a coming going over use to to see wanting between we'll few this revenue the decent of to and some word just see think course generate next to miners that mouth, by announcements smart

data do. to able we've Of other being course, we've on team metrics, again, to in as And been we've we're well. have that's very it place a for is build proven of doing pragmatic it dollar got for And what terms to ourselves pennies technology. in now the and that approach trying the in organizations done facility involved the and the going for the operating use

the couple the be I exciting So for it's over think pudding, us. the but pretty going will in next quarters, be of proof to

Rolly Bustos

is showed to But talked a already do another investors long position cash? direct bit will know, we have enough about want about cash One to more question to it. last talking will Right. Swap do little and need our we the asking last? race? And it How

Cameron Chell

Yes.

So we're mean, is that's direct I think is, on sales. that now. to what cashflow I answer focused and the

doesn't in for of lot cashflow take We to positive. we have popped have very cash terms it burn and/or of low what sales producing, burning of we're be a the And rate. over top a us being a for especially not lot

to right focus now that's is that. do our So

just term to doing it short As done small, in where here financings some we raise little saw that we've we capital which would bit the needed opportunities relates if the and past, of just do further focus be on we we've And cash over management do very any bumped to again, And technology going them a of in to pieces we're participated. we'll top. couple a do the conservative If small to get to and flow. the a newer, and/or it same. need continue kept to

Rolly Bustos

great. all past questions week. in Okay, came the that the over That's

you mind, our and if the you up have final Cam, So goodbye wrap the don't call give just listeners. to I'll

Cameron Chell

everybody particular, Well, know give they are that I it's the I the want to tough thank committed ad things. in -- know give mean, hopefully to -- management team been our thanks. shareholders. Yes, I want right assurances really I a doing and dedicated again, just go. nauseam, is and I

and onboarding, important the customers have thing. We that's most

And it On just down. that the note, a out all for appreciate next keep something about committed what being numbers them. really bigger in knocking for really and And over much. thank the like I everybody's future. Thank to then people who finally, and for it organization platform does is people the to what turn we'll technology their very work we'll really, hopefully it just it for building quarter. have sticking great some We for you

Rolly Bustos

Thank you.

Waste Energy (WAST) 19 May 222022 Q1 Earnings call transcript