Neptune Dash Technologies (TSXV:DASH) has announced its first quarter results for the period ended November 30, 2018.
As quoted in the press release:
The Company has also implemented an aggressive cost cutting regime in order to avoid raising funds for a number of years, therefore reducing potential dilution to existing shareholders and avoiding a rollback of the stock.
“2018 was a very difficult year in the cryptocurrency space with unforeseen price drops on virtually all tokens. Given our share price reflects those crypto assets held by the Company, shareholders also saw a major drop in the Company’s share price. Neptune Dash remains committed to our shareholders and Dash cryptocurrency and as such will implement as much cost cutting as necessary to make sure the Company can see through another 24-36 months without contemplating any capital raises,” stated Cale Moodie, Neptune Dash CEO.
Neptune Dash has implemented a number of cost cutting strategies in order to preserve capital which includes, partial accrual of management salaries, substantial reduction in paid marketing efforts and reduction in office costs by moving to office sharing. With these cost cutting measures in place the Company expects it can run operations for another two to three years without any capital raising or selling any of its digital currency assets.