ISW Holdings Inc. (OTCMKTS: ISWH) jumped 24% after announcing the filing of its financial results for the second quarter ended June 30, 2021. Chairman and president Alonzo Pierce said that the company’s primary mining was installed and became operational only two weeks before the quarter ended, thus most of the impact will reflect in Q3 financial performance data.
In addition, the company has considerable equipment running, and it has received another delivery of miners. Alonzo said they are cooing a rate of more than $5 million in yearly revenues each month, with considerable growth expected in the coming months.
For the quarter ended June, the company increased net cash by more than 2,600% to $2.3 million on a six-month basis, with total assets rising 2,657% to $4.9 million on a six-month basis. Liabilities dropped 58%, with total derivative liabilities dropping 96% to below 750,000. Ahead of Q3, the company has signed new partnerships, including with Bitmain Technologies. Therefore ISWH is worth watching in the coming quarter.
Market Reaction:
On Monday, ISWH stock surged 23.68% to $0.8596 with more than 1.72 million shares, compared to its average volume of 667K shares. The stock has moved within a range of $0.6811 – 0.8900 after opening the trade at $0.7150.
