Looking Glass Labs Ltd (NFTX) News

Appointment of Ben Yu to Advisory Board ( March 17, 2022 ) – The Company announced the appointment of Ben Yu as a new member of its strategic advisory board. Mr. Yu is a recipient of the Thiel Fellowship that has become successful as a business content creator.

Engaged with YellowBlocks as a Leading B2B Technology Gateway in the APAC Region ( March 9, 2022 ) – The Company announced that it had entered into a collaborative arrangement with YellowBlocks, a leading business-to-business gateway for emerging technology ecosystems in the Asia-Pacific Region that is based in Ho Chi Minh City, Vietnam .

House of Kibaa Partnered with Polygon Studios on NFTs, Scaling and Other Infrastructure Solutions ( March 3, 2022 ) – The Company announced that its flagship studio, House of Kibaa, had entered into a collaborative arrangement with Polygon Studios, the NFT, gaming and metaverse arm of Polygon (MATIC). The Polygon blockchain has developed an assortment of fin-tech solutions for traditional finance as well as Cryptocurrency and the blockchain.

The Development Division contains certain proprietary technologies and intellectual property, as well as the employment contracts of 13 talented individuals equipped with over 140 years of combined experience in gaming, programming and Web3 applications.

LOI to Acquire Development Division of LACA Solutions and Establishes APAC Web3 Office ( February 24, 2022 ) – The Company announced that it had entered into a letter of intent to acquire the Development Division of LACA Solutions Corporation.

Venly to Integrate MetaRing NFT into the House of Kibaa Metaverse ( February 17, 2022 ) – The Company announced that it entered into an arrangement with Venly, the prominent blockchain technology innovator, to pursue integration opportunities with LGL's flagship studio, House of Kibaa, including potential integrations within its hyper-realistic metaverse that is expected to be launched in the second half of 2022.

3D Modelling Technology Provides Genesis for the Development of the HAPEBEAST NFT Collection ( February 8, 2022 ) – The Company announced that the technology for the 3D modelling of NFT infrastructure of its flagship studio, House of Kibaa, was core to the development of the HAPEBEAST NFT collection by Digimental Studio. HAPEBEAST is an ape-themed collection, and each avatar is unique based on its combination of stylized clothing and accessories, which are all aligned with modern streetwear trends.

Provided Commercial Guidance for First Half of 2022 and Recaps Recent Accomplishments ( February 3, 2022 ) – The Company announced that it was continuing to execute on its growth initiatives, revenue milestones as well as utility NFT and metaverse development pipeline. Accordingly, the Company provided a summary of its most significant developments as well as commercial guidance for the first half of 2022.

Commenced Trading on the NEO Exchange on February 3, 2022 ( February 1, 2022 ) – The Company announced that its common shares would commence trading on the NEO Exchange Inc. under the symbol "NFTX" at the start of trading on February 3, 2022 . To coincide with its listing, LGL updated its website with new information about the Company and its flagship studio, House of Kibaa.

GenX NFT Collection by House of Kibaa "Verified" on the LooksRare NFT Marketplace ( January 25, 2022 ) – The Company announced that the GenX NFT collection issued by its flagship studio, House of Kibaa, was authenticated by the LooksRare NFT marketplace, thereby making it one of the first NFT collections to receive "Verified" status.

The Company has procured an executive and creative team for GZP consisting of accomplished screenwriters who are recipients of the Leo Award in addition to the co-star of Zero Contact – the 2021 film that was the world's first released as an NFT.

Media Production Division to Screen the First Live-Action NFT Series During San Diego Comic-Con International ( January 10, 2022 ) – The Company announced the launch of GenZeroes Productions Inc. ("GZP"), which is a wholly owned subsidiary of LGL specializing in the production of original media involving NFTs.

House of Kibaa Joined DigiBC to Advance NFT and Metaverse Opportunities in British Columbia ( January 4, 2022 ) – House of Kibaa became a Video Game/IDM Company member of The Creative Technology Association of British Columbia , which is a non-profit industry group for the creative tech sector in British Columbia , where LGL recently established its global corporate headquarters.

Subsequent Highlighted Events (all amounts expressed in Canadian Dollars unless otherwise noted)

We are working hard to make HoK's metaverse, Project Origin, a reality beginning with a land sale anticipated for the near future, while expanding on our GenZeroes NFT franchise in multiple ways, helping clients develop and launch their own NFT collections as well as closing the previously announced acquisition of LACA's Development Division and integrating those APAC resources into the Company's North American operations."

On behalf of the officers and directors of the Company, I would like to thank our employees, consultants, advisors and the NFT community for their contributions to our strong first half of the fiscal year." Mr. Banks added, "LGL and its flaghip studio, House of Kibaa, continues to be focused on leading the NFT, metaverse and play-to-earn spaces as the only pure-play public company of its kind.

The second fiscal quarter of 2022 also contained our most significant milestone to date, as we became a public issuer listed on the NEO Exchange on February 3, 2022 .

Dorian Banks , Chief Executive Officer of LGL said, "I am proud to summarize that during the six-month period of fiscal 2022 to date, LGL has generated over CAD 6.8 million in total revenues and over CAD 2.27 million of total comprehensive income.

Net loss per share was CAD 0.03 on both a basic and diluted basis, as compared to CAD nil for the same period of the prior year; and
Total assets for the period ended January 31, 2022 increased to CAD 14,661,433 from CAD 2,442 for the audited period ending July 31, 2021 , which was mainly attributable to NFT sales and royalty income.
Management Commentary

Total comprehensive loss for the period ended January 31, 2022 was CAD 3,500,385 , as compared to total comprehensive loss of CAD 15,505 reported for the same period of the prior year, primarily due to significant development costs, marketing expenses and consulting fees, as well as a loss of CAD 835,766 from the change in fair value of contingent liability;

Gross profit for the period ended January 31, 2022 was CAD 287,124 , as compared to CAD nil for the same period of the prior year, due to the aforementioned reasons;

Total revenues for the period ended January 31, 2022 reached CAD 311,825 , as compared to CAD nil for the same period of the prior year, which was primarily due from the receipt of royalty income and miscellaneous income generated by providing consulting services to third parties;

Financial Highlights (all amounts expressed in Canadian Dollars unless otherwise noted)

The full set of Consolidated Financial Statements and Management Discussion and Analysis can be viewed by visiting the Company's website at www.lgl.io or its profile page on SEDAR at www.sedar.com .

(NEO: NFTX) (FRA: H1N), a leading Web3 platform specializing in non-fungible token (" NFT ") architecture, immersive metaverse environments, play-to-earn tokenization and virtual asset royalty streams, is pleased to announce that it has filed its unaudited financial results for the second quarterly period ending January 31, 2022 of the Company's 2022 fiscal year, the highlights of which are included in this news release.

$NFTX Announces Second Quarter 2022 Financial Results

https://marketwirenews.com/news-releases/looking-glass-labs-announces-second-quarter-2022-fin-6502967890548344.html

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$NFTX

Vampire food

such
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as technology entertainment sports and
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video gaming we look forward to working
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with polygon as our newest strategic
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ally in the blockchain space with
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several noteworthy hok launches set to
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take place in the coming months unquote
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with an update on looking glass labs

further we believe there is considerable
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value to be had from potential
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arrangements with polygons well-known
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collaborators and other industries

in the
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late 2010 scalability issues plagued
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many cryptocurrency and blockchain
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projects which is a problem that
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polygons sought to solve with its
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product suite for efficiently scaling
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ethereum applications this is something
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that we intend to leverage when we
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launch hlk's project origin metaverse
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this year in addition to other offerings
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chief executive officer of lgl said
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quote establishing a formal
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collaboration with polygon is expected
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to create a number of exciting
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opportunities for our company as digital
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media continues its rapid shifts toward
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nfts and the metaverse in 2022.

as the date hereof as it seeks
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to ambitiously broaden its portfolio of
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ethereum scaling solutions dorian banks

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that was led by sequoia capital india
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thereby bringing its total market
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capitalization to approximately usd 12
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billion

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transactions processed 60 million unique
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user addresses and over usd 5 billion in
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assets secured recently polygon raised
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usd 450 million in a round of financing

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polygon has become highly respected in
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the blockchain ecosystem for its scaling
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and infrastructure solutions that have
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been adopted by more than 1200
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applications with over 600 million total

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the polygon blockchain has developed an
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assortment of fintech solutions for
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traditional finance as well as
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cryptocurrency and the blockchain

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immersive metaverse environments play to
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earn tokenization and virtual asset
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royalty streams announcing its flagship
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studio house of kiba has entered into a
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collaborative arrangement with polygon
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studios the company is the nft gaming
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and metaverse arm of polygon trading
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under the symbol matic m-a-t-i-c

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looking glass labs limited trading on
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the neo-canadian stock exchange with the
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ticker symbol nftx is a leading web 3
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platform specializing in non-fungible
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token architecture also known as nfts

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hi i'm dave darling and today we are
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focused on the explosive nft market

nft news from looking glass labs coming
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$NFTX

On behalf of LOOKING GLASS LABS LTD.

" Dorian Banks "
Dorian Banks , Chief Executive Officer
Twitter: @DorianBanks

HoK has successfully released digital assets to include GenZeroes, which sold out in just 37 minutes for total proceeds to LGL of CAD 6.2 million , in addition to a perpetual 5% royalty stream on secondary market sales. HoK plans to launch a hyper-realistic metaverse built on the latest version of Unreal Engine in 2022.

Its leading brand, House of Kibaa (" HoK "), designs and curates a next generation metaverse for 3D assets, which allows functional art and collectibles to exist simultaneously across different NFT blockchain environments.

ABOUT LOOKING GLASS LABS

Headquartered in Vancouver, British Columbia , Looking Glass Labs (" LGL ") is a Web3 platform specializing in non-fungible token (" NFT ") architecture, immersive metaverse environments, play-to-earn tokenization and virtual asset royalty streams.

Issuance of Options

The Company has granted an aggregate of 50,000 incentive share purchase options to Mr. Yu. Each share purchase option is exercisable for a period of two years at an exercise price of CAD 0.80 per common share of the Company. The options vest after four months from the grant date.