Blockchain

3DOS Launching Decentralized “Uber for 3D Printing” on Sui

Grand Cayman, Cayman Islands, September 12th, 2024, Chainwire

3DOS chooses Sui as the exclusive blockchain partner to power its global decentralized peer-to-peer manufacturing network

Sui, a cutting-edge Layer 1 blockchain, announced a strategic alliance with 3DOS™, a leading innovator in decentralized manufacturing. The alliance promises to solve the coordination problems plaguing the $15.6 trillion global manufacturing market by coupling 3DOS’s expansive network of 3D printers, manufacturers, and customers with Sui’s advanced decentralized blockchain technologies. Sui’s industry-first zkLogin technology will make onboarding new users particularly easy for 3DOS by natively allowing millions of people to access the service using traditional social accounts like Google or Twitch.

Prior to engaging with Sui, the 3DOS founders pioneered one of the world’s first 3D printing operating systems and achieved remarkable results. So far, the platform has over 500,000 users, has manufactured 4.2 million parts, and has supported more than 15 million CAD designs across 120+ countries. Customers include John Deere, Google, MIT, Harvard, CalTech, UC Berkeley, Bosch, the British Army, the US Navy, the US Air Force, and NASA. These customers are currently being onboarded onto the network that 3DOS™ is building on Sui.

A heat map of 3DOS’s decentralized infrastructure, which is now migrating to the SUI Mainnet, with over 24,000 3D Printed NFT’s minted within a week since launch. Data as of Sept 9, 2024

The current partnership adds to 3DOS the redundancy, transparency, speed, and flexibility inherent in leveraging Sui’s industry-leading decentralized technology platform.

“At 3DOS, we believe that manufacturing should be decentralized. By tapping Sui to power our infrastructure, we now have the technology to enable this massive shift in our industry,” said John Dogru, Founder and CEO of 3DOS. “3DOS is a 3D Operating System, bridging the digital world to the physical world, allowing anyone to access manufacturing capacity and 3D printers anywhere empowering local producers and eliminating waste, inventory, and the carbon footprint associated with international shipping.”

Together, the technological innovations of the Sui and 3DOS combination will enable the massive global manufacturing industry to harness the power of localized production and eliminate the inefficiencies of high operational costs, and limited accessibility that currently plague it. The 3DOS/Sui solution addresses these continuing challenges and also vastly expands the world’s manufacturing potential by connecting siloed 3D printing capacity to massive demand around the world. In the process, the partners’ decentralized approach will reduce costs, democratize manufacturing, and open up new economic opportunities globally.

“Improving manufacturing processes is one of the world’s most important challenges, and the infrastructure that 3DOS is building on Sui marks a significant advancement that will catalyze economic growth and technological innovation,” said Adeniyi Abiodun, Chief Product Officer and Co-Founder of Mysten Labs which developed the Sui Network. “Through this partnership with 3DOS, Sui is helping to create a global decentralized manufacturing network that empowers more individuals and businesses to participate in the production of physical goods.”

The 3DOS platform leverages smart contracts on Sui to eliminate the overhead typically associated with coordinating supply and demand, which traditionally requires thousands of employees at Web2 companies and banks. By programming governing rules and processes directly into Sui’s blockchain, 3DOS achieves near-zero human intervention and infinite scalability. This approach optimizes resource efficiency and enhances supply chain transparency, reducing waste, improving cost-effectiveness, ensuring quality assurance, and facilitating global collaboration—all while empowering a diverse range of creators and innovators.

Contact

Sui Foundation
media@sui.io

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Netcapital Announces First Quarter Fiscal 2025 Financial Results

2024-09-16T20:15:00Z
  • Management to Host Earnings Call on September 17, 2024 at 11:00 a.m. ET

BOSTON, MA, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Netcapital Inc. (Nasdaq: NCPL, NCPLW) (the “Company”), a digital private capital markets ecosystem, today announced financial results for the first quarter of fiscal year 2025 ended July 31, 2024.

“This was a challenging quarter for us, driven primarily by a decrease in revenues for services that we provide in exchange for equity securities,” said Martin Kay, CEO of Netcapital Inc. “However, we have taken what we believe are important steps to lay the groundwork for future opportunities. In May 2024, for example, we announced that our wholly-owned subsidiary, Netcapital Securities Inc. applied for broker-dealer registration with the Financial Industry Regulatory Authority (“FINRA”). We believe that by having a registered broker-dealer, it could create opportunities to expand our revenue base by hosting and generating additional fees from Reg A+ and Reg D offerings on the Netcapital platform. In addition, in July 2024, we announced the launch of our beta version of a secondary trading platform through the Templum ATS to a closed group of users. This secondary trading platform has been designed to provide investors who purchase stock through the Netcapital funding portal with the potential for secondary trading through access to the Templum ATS.”

The operation of the Templum ATS remains subject to extensive regulation and oversight. Any regulatory delays or objections will result in delays in our ability to launch the proposed secondary trading platform, if at all.

Netcapital Securities Inc.’s application to become a registered broker-dealer remains subject to regulatory approval and/or licensing from the Financial Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC). No assurance can be given as to when or if such approvals may be granted or when, if at all, Netcapital will be able to expand the services it offers.

First Quarter Fiscal 2025 Financial Highlights

  • Revenue decreased approximately 91% year-over-year to $142,227, compared to revenue of $1,519,809 million in the first quarter of fiscal year 2024.
  • Total funding portal revenues (consisting of portal fees, listing fees and a 1% equity fee) decreased approximately 62% year-over-year to $142,056 compared to $375,856 in the first quarter of fiscal 2024.
  • Operating loss of ($2,508,237) for the first quarter fiscal 2025 as compared to ($749,020) for the first quarter fiscal 2024, an increase of 235%
  • Net loss of ($2,527,170) in the first quarter fiscal 2025, compared to net loss of ($491,655), for the same period in the prior year, an increase of 414%
  • Loss per share of ($5.10) in the first quarter year ended July 31, 2024, increased approximately 11% compared to loss per share of ($4.61) for the same period in the prior year.
  • As of July 31, 2024, the Company had cash and cash equivalents of $855,181.

Conference Call Information

The Company will host an investor conference call on Tuesday, September 17, 2024, at 11:00 a.m. ET.

Participant access: 844-985-2012 or 973-528-0138
Conference entry code: 844301

For additional disclosure regarding Netcapital’s operating results, please refer to the Quarterly Report on Form 10-Q for the period ended July 31, 2024, which has been filed with the Securities and Exchange Commission.

About Netcapital Inc.

Netcapital Inc. is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The Company's consulting group, Netcapital Advisors, provides marketing and strategic advice and takes equity positions in select companies. The Company’s funding portal, Netcapital Funding Portal, Inc. is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities association.

Forward Looking Statements

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Investor Contact

800-460-0815 
ir@netcapital.com

NETCAPITAL INC.
CONDENSED CONSOLIDATED BALANCE SHEETS

    July 31, 2024
(Unaudited)
    April 30, 2024
(Audited)
 
Assets:                
Cash and cash equivalents   $ 855,181     $ 863,182  
Accounts receivable net     -       134,849  
Note receivable     20,000       20,000  
Interest receivable     1,600       1,200  
Prepaid expenses     48,160       23,304  
Total current assets     924,941       1,042,535  
                 
Deposits     6,300       6,300  
Notes receivable - related parties     202,000       202,000  
Purchased technology, net     14,724,136       14,733,005  
Investment in affiliate     240,080       240,080  
Equity securities     25,343,513       25,333,386  
Total assets   $ 41,440,970     $ 41,557,306  
                 
Liabilities and Stockholders’ Equity                
Current liabilities:                
Accounts payable   $ 1,180,487     $ 793,325  
Accrued expenses     236,758       310,300  
Deferred revenue     445       466  
Interest payable     94,703       92,483  
Current portion of SBA loans     1,885,800       1,885,800  
Loan payable - bank     34,324       34,324  
Total current liabilities     3,432,517       3,116,698  
                 
Long-term liabilities:                
Long-term SBA loans, less current portion     500,000       500,000  
Total liabilities     3,932,517       3,616,698  
                 
Commitments and contingencies     -       -  
                 
Stockholders’ equity:                
Common stock, $.001 par value; 900,000,000 shares authorized, 579,153 and 326,867 shares issued and outstanding     579       327  
Shares to be issued     122,264       122,124  
Capital in excess of par value     39,433,217       37,338,594  
Retained earnings (deficit)     (2,047,607 )     479,563  
Total stockholders’ equity     37,508,453       37,940,608  
Total liabilities and stockholders’ equity   $ 41,440,970     $ 41,557,306  


NETCAPITAL INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)

    Three Months Ended     Three Months Ended  
    July 31, 2024     July 31, 2023  
             
Revenues   $ 142,227     $ 1,519,809  
Costs of services     10,220       18,053  
Gross profit     132,007       1,501,756  
                 
Costs and expenses:                
Consulting expense     97,381       163,942  
Marketing     6,898       241,888  
Rent     19,116       19,610  
Payroll and payroll related expenses     1,136,593       1,037,042  
General and administrative costs     1,380,256       788,294  
Total costs and expenses     2,640,244       2,250,776  
Operating loss     (2,508,237 )     (749,020 )
                 
Other income (expense):                
Interest expense     (10,464 )     (13,304 )
Amortization of intangible assets     (8,869 )     (28,331 )
Other income     400       -  
Total other income (expense)     (18,933 )     (41,635 )
Net loss before taxes     (2,527,170 )     (790,655 )
Income tax expense (benefit)     -       (299,000 )
Net loss   $ (2,527,170 )   $ (491,655 )
                 
Basic loss per share   $ (5.10 )   $ (4.61 )
Diluted loss per share   $ (5.10 )   $ (4.61 )
                 
Weighted average number of common shares outstanding:                
Basic     495,319       106,732  
Diluted     495,319       106,732  

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