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VANCOUVER, British Columbia, March 15, 2024 (GLOBE NEWSWIRE) — Metasphere Labs Inc. (formerly Looking Glass Labs Ltd., “Metasphere” or the “Company”)
(Cboe Canada:
LABZ)
(OTC:
LABZF)
(FRA:
H1N), a leading innovator in blockchain technology and decentralized finance (DeFi) applications, announces its financial results for the second quarter ended January 31, 2024. The Company’s interim consolidated financial statements for the interim period ended January 31, 2024, as well as its accompanying management discussion and analysis have been filed on under the Company’s profile on SEDAR+ at www.sedarplus.ca.
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Headquartered in Vancouver, British Columbia, Metasphere Labs (“LABZ“) develops metaverse environments, DAO solutions, gamification, and Web3 / blockchain monetisation strategies aiming to solve social coordination problems for acting on climate change and making a positive impact on the planet.
For
further
information,
please
contact:
Natasha Ingram, CEO
Email: [email protected]
Forward-Looking
Information
This news release contains “forward-looking statements.” Statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such forward-looking statements include, among other things, open metaverse projects and development of virtual world projects.
The material assumptions supporting these forward-looking statements include, among others, that: the Company
could
mitigate
the
risks
associated
with
the
blockchain
and
NFT
industry;
the
ability
to
compete with other businesses in the NFT, metaverse and blockchain markets; the availability of sufficient funding to carry out the Company’s business development plans; favourable market conditions; and the market acceptance for its products.
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Although management considers these assumptions to be reasonable based on information currently available
to
it,
they
may
prove
to
be
incorrect.
These
forward-looking
statements
are
only
predictions
and involve known and unknown risks, uncertainties and other factors, including: the continued growth and adoption of NFT, metaverse and blockchain offerings; the cost of developing and designing NFTs and metaverses is economically viable; the Company being able to attract and retain a sufficient workforce
with
desired
skillsets
to
develop
the
Company’s
digital
offerings;
the
availability
of offerings
provided
by
third-parties
in
the
NFT,
metaverse
development
and
online
gaming
market
to
identify potential transactions; the increasing adoption of NFTs as a solution for various online gaming, entertainment
and
collectible
uses;
the
Company
having
the
ability
to
mitigate
the
risks
associated
with
the blockchain and NFT industry; and the ability to compete with other businesses in the NFT, metaverse development, content creation and collectibles market.
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Although management considers these assumptions to be reasonable based on information currently available
to
it,
they
may
prove
to
be
incorrect.
These
forward-looking
statements
are
only
predictions
and involve known and unknown risks, uncertainties and other factors, including: the risk that the Company’s offerings are not accepted by the consumer, the risk that other competitors may offer similar digital offerings; the risk that there may be negative changes in general economic and business conditions; the risk that the Company may have negative operating cash flow and not enough capital to complete the development of any of its technologies; the risk that the Company may not be able to obtain additional financing
as
necessary;
the
risk
that
there
may
be
increases
in
capital
and
operating
costs;
the
risk
that
the NFT
technology
may
be
subject
to
fraud
and
other
failures;
the
risk
that
there
may
be
technological
changes and developments in the blockchain that make the NFT solutions obsolete; risks relating to regulatory changes or actions which may impede the development or operation of the blockchain solutions; the risk that
other
competitors
may
release
similar
blockchain
offerings;
the
potential
future
unviability
of
the
NFT market in general; the volatile cost of the amount of computational effort required to execute specific operations on the blockchain, and other general risks involved in the blockchain solutions.
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Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials, including its reports filed with the Canadian securities regulators and which can be obtained from www.sedarplus.ca.
Any
of
these
risks
may
cause
the
Company’s
actual
results,
levels
of
activity,
performance
or
achievements to
be
materially
different
from
any
future
results,
levels
of
activity,
performance
or
achievements
expressed or implied by these forward-looking statements. Further, although the Company has attempted to identify factors
that
could cause actual
results,
levels
of activity, performance
or
achievements
to
differ materially from
those
described
in
forward-looking
statements,
there
may
be
other
factors
that
cause
results,
levels
of activity, performance or achievements not to be as anticipated, estimated or intended. These forward- looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States and Canada. Although the Company believes that any beliefs, plans, expectations and intentions
contained
in this news release are reasonable, there can be no assurance that any
such
beliefs,
plans,
expectations
or
intentions
will
prove
to
be
accurate.
The
Company
does
not
assume any liability for disclosure relating to any other company mentioned herein.
SOURCE: METASPHERE LABS INC.
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