Atlas Cloud Enterprises Inc (OTCMKTS:ATLEF) Register Net Revenue Gain Of $35,194 In Fiscal Third-Quarter Result Of 2018

Atlas Cloud Enterprises Inc (OTCMKTS:ATLEF), one of the premier cryptocurrency mining and technology company from Canada recently announced its fiscal 2018 third-quarter results revealing a net revenue gain of $35,194. The report shows that even though there are a few frictions in the earnings, overall the company has managed to progress as planned and much of it is attributed to the changes the company adopted this year.

What Does The ATLEF’s Fiscal Third Quarter Result Say?

As per the recently released report for the three month period ending on February 28, 2018 ATLEF experienced a net loss of $0.04/share which is more than the comprehensive loss of $0.01 loss per share recorded last year during the same time. But when it comes to net revenues earning, the company’s recorded revenues of $107,148  is more by $35, 194  compared to $71,954 for the same period of three months ending on February 28 in 2017.

So, it indicates that the company’s net revenues earning skyrocketed in the fiscal third quarter. Similarly, the total assets of the company also showed massive growth. On May 31, 2017, the total assets of the company were $1,007,482 whereas by the end of February this year ATLEF’s total assets were $15,770,109. The working capital last year on May 31 was $225,483 whereas by the end of February 2018 it has increased to $9,833,171. So, the report reveals that the company’s performance has improved both in terms of total assets and the working capital as compared to its 2017 figures.

Major Changes And Announcements By ATLEF

Atlas Cloud adopted several strategic decisions and employed the latest technological advancements to upgrade the business operations within the company. At the start of this year, the company appointed Mr. Daniel Sorger as the Vice President of Corporate Finance and granted him the right and option to purchase 15,000 common shares of the company from the ATLEF at an exercise price of $1.06/share having a validity of five years from the date of issuance.

The company immediately after a week appointed Mr. Matthew McKibbin as Chief Blockchain Officer and Mr. Timothy Lewis as the Chief Technology Officer. On January 24, 2018, the company completed the milestone activity of acquiring 1,000 Application Specific Integrated Circuit (ASIC) mining servers that can be immediately deployed for mining for the $2,380,000.

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