Net Revenue Spikes 1534% to $8 Million and Total Revenue Rises 233% to $12 Million for Cosmos Group's 2022 Q 3 as Compared to Prior Year.

SINGAPORE: Metaverse Blockchain company Coinllectibles[?], a fully owned subsidiary of Cosmos Group Holdings Inc. (OTC: COSG), is pleased to announce that the Group has released the latest financial results for 2022 Q3.

Some of the financial highlights are:

As at end 2022 Q3, Cosmos Group made a total revenue of US$12,884,869 and had about US$1.97million cash on hand. The comprehensive loss for the first nine months was US$90.26million, US$86.4million of which consisted of a one-time share based compensation payment in 2022 Q1.

Total assets of the Group was at US$43.97million, which included approximately US$18.45million of loans receivables and US$15.58million of intangible assets, while the total liability was only at US$29.15million.

The lending segment accounted for US$4,833,433 of net revenues during the nine months ended September 30, 2022, as compared to US$4,985,476 for the same period in 2021. This represents a marginal decrease of about US$152,043, or 3%, and demonstrates the stability of our lending segment. For the same period, total operating expense was approximately US$2.81million - which translates to a lending segment income of US$1.03million.

The arts and collectibles technology was responsible for over a majority of the revenue growth of the Company, with US$8,051,436 of net revenues during the nine months ended September 30...