A flurry of activity for Liquid Avatar (Liquid Avatar Stock Quote, Chart, News, CSE:LQID, OTCQB:LQAVF, FRA:4T51) is improving sales, the company says.
According to a press release issued Thursday, activities such as the release of a mobile app and its Liquid Avatar Verifiable Credentials Ecosystem is pumping up the pubco’s topline. Management says revenue between early October and early December was approximately $700,000 before direct costs of sales. The company cautioned that the sales are unaudited and subject to final settlement and technical review. and potential revisions.
“We are excited by our performance as a whole during this quarter, and we remain cautious in our optimism as these are still early days in the transformation of the Company from primarily R&D to program and revenue activation,” said CEO David Lucatch. “We have started to witness online acceptance of digital identity programs, which are at the core of all our solutions, and both avatar and metaverse activities are gaining traction, creating opportunities for increased early revenue, as the industry embraces the future of Web 3.0. Our goal is to continue to create value for all our stakeholders.”
In a recent interview with Cantech Letter, Lucatch said Liquid Avatar is a a company built around the concept of digital identity and that the company gives its customers the tools they need to protect their private data.
Below: Liquid Avatar CEO David Lucatch talks to Cantech Letter’s Justine Ma
“Digital identity is a relatively new concept,” Lucatch said. “It’s the ability for people to control the information about them out there and prove they are themselves. What Liquid Avatara does is empower users..we work to make sure everyone in the ecosystem is verifiable and provable.”
Since October 5, shares of Liquid Avatar have been on fire, climbing 250 per cent to close at $0.21 Wednesday.
Disclosure: Liquid Avatar is an annual sponsor of Cantech Letter.