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Advanced Blockchain AG: Statement on the ad-hoc announcement dated 21.06.2022

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DGAP-News: Advanced Blockchain AG / Key word(s): Cryptocurrency / Blockchain/Miscellaneous
Advanced Blockchain AG: Statement on the ad-hoc announcement dated 21.06.2022
23.06.2022 / 12:08
The issuer is solely responsible for the content of this announcement.

Due to the recent setbacks in the crypto market, the company has issued a profit warning, as at the current level realizations of profits from investments neither seem reasonable nor can be considered secured to a significant extent. The operating business will be strategically adjusted to the current market situation. It is planned that current CEO Michael Geike will take on a new leadership role in a recently founded company. In order to fulfill this role, it has been agreed that his previous responsibilities at Advanced Blockchain AG will be continued by Mr. Telian.

As the new CEO, Mr. Telian intends to put a special focus on the management of the investments as well as internal cost optimizations and adjustments of the strategy.

"We have no doubt about the future of decentralized technologies. Moving forward, we want to become more independent from market movements and focus on expanding predictable development services and reduce our cost base to prepare for the next growth period. Existing incubations will be continued with a long-term view. The room for maneuver enabled by a smaller burn rate will help us to sufficiently continue operations", said Telian

Mr. Geike will remain closely associated with the company as an advisor. More information will be published soon.

About Advanced Blockchain AG
Advanced Blockchain AG (Scale, Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) is a venture builder and investor in the blockchain industry with an extensive team of analysts, developers, programmers, economists and mathematicians dedicated to developing the future of Web 3.0, covering various disciplines enabling the firm to innovate in different ecosystems of the industry.

For more information about Advanced Blockchain AG and its various projects and investments, please visit: https://www.advancedblockchain.com/.


23.06.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Advanced Blockchain AG

Scharnhorststraße 24

10115 Berlin

Germany

Phone:

+4930403669510

Fax:

030403669511

E-mail:

info@advancedblockchain.com

Internet:

www.advancedblockchain.com

ISIN:

DE000A0M93V6

WKN:

A0M93V

Listed:

Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1382421


 

End of News

DGAP News Service

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