Btltm Files Year Ended 2017 Financials and Results
BTLTM FILES YEAR ENDED 2017 FINANCIALS AND RESULTS
For Immediate Release
Vancouver, Canada / London, UK April 9, 2018
BTL GROUP LTD. (TSX Venture: BTL) (“BTL” or the “Company”) today announces it has filed
its audited consolidated financial statements and Management’s Discussion and Analysis for the
year ended 31st December 2017. These documents can be accessed from the www.btl.co
website or the SEDAR website.
BTL is a technology provider that has been developing InterbitTM, a token free, blockchain platform
that will enable absolute privacy of metadata and rapid application development in a practical
design framework. Interbit’s unique “chain joining capability” has the capacity to inter-connect
many thousands of Interbit blockchains per solution, in a completely private, secure and
horizontally scalable manner. As previously announced, Interbit will available on April 23 rd for
testing and feedback on http://interbit.io.
The Company reported revenues from its Energy Trading Project of $372,927 (2016 - $410,670)
and a net loss of $5,873,570 (2016 - $1,937,482) for its fiscal year 2017. The Company completed
three financings during 2017 and had a cash position of $17,998,870 as at December 31st, 2017.
On March 30, 2018, BTL’s cash position was $16,700,000.
Highlights from 2017
• The key and critical pilot project BTL conducted in 2017 was the adoption of Interbit by a
consortium of large European energy companies to track natural gas trades from the point of
inception through to trade reconciliation (see the Company’s June 5, 2017 press release).
• The Company also filed patents on the Interbit platform and the underlying Hypervisor
architecture (see the Company’s October 17, 2017 press release). Interbit is a new generation
blockchain platform with “unique chain joining capability” with the capacity to inter-connect
many thousands of Interbit blockchains.
Outlook
• The Company’s goals for 2018 is to focus on the release of Interbit, and its subsequent third
party software audit. Supported by global marketing campaigns, the Company’s existing and
growing customer base and extensive partner community is expected to drive user-adoption
of Interbit.
• In further news, Interbit will co-host Coindesk's international Building Blocks Hackathon in
New York City on May 12th, as part of the 2018 Consensus show. Together with IBM,
Microsoft, Ethereum and more, Interbit will mentor, present and serve as a judge of the
application building challenge hosting over 200 developers from around the world.
TM
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• The Company continues to build its professional sales and delivery teams to support
commercial opportunities with customers in financial services, natural resource and supply
chain verticals. The significant sales and marketing investment by the Company will also
attempt to educate and highlight the differences between Interbit, a next generation
blockchain platform, from the highly volatile cryptocurrency markets. Blockchain has been
historically associated with supporting cryptocurrencies but the technology and wider
commercial benefits of blockchain are far broader. Interbit is a technology platform that will
result in significant and fundamental computing advantages over current systems and
traditional operating platforms.
ABOUT BTLTM AND INTERBITTM
Listed on the TSX Venture Exchange (TSX Venture: BTL) and operating from both Canada and
the UK with offices in Vancouver, Calgary and London, BTL is a technology platform provider that
owns Interbit, a next generation blockchain platform which enables business applications to be
built quickly, easily and securely.
Interbit can be licensed by developers and businesses who can build and share their own appli-
cations in a trusted ecosystem, allowing them to embrace new revenue generating opportunities.
Interbit meets the speed, scale and privacy that older generations of blockchain technology can-
not achieve by using chain joining technology to connect multiple blockchains. It offers a simpler,
more secure, new way of computing.
Website: www.btl.co & www.interbit.io
Twitter: https://twitter.com/blockchainltd & https://twitter.com/interbit
Videos: https://youtu.be/YFOH0YEHLak & https://youtu.be/eWI-0AXaZgc
For further information please contact:
Dominic McCann, CEO
Phone: +1 855 256 5246
Email: [email protected]
Certain statements in this release are forward-looking statements, which include further
development of BTL’s business relationships and business and the timing, development and
success of BTL’s technologies and products, and other matters. Forward-looking statements
consist of statements that are not purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future. Such information can generally be identified
by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”,
“intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are
cautioned not to place undue reliance on forward-looking statements, as there can be no
assurance that the plans, intentions or expectations upon which they are based will occur. By
their nature, forward-looking statements involve numerous assumptions, known and unknown
risks and uncertainties, both general and specific, that contribute to the possibility that the
predictions, estimates, forecasts, projections and other forward-looking statements will not occur.
These assumptions, risks and uncertainties include, among other things, the state of the economy
in general and capital markets in particular, the development of competitive technologies, the
marketplace acceptance of BTL’s technologies and products, as well as those risk factors
discussed or referred to in BTL's annual Management's Discussion and Analysis for the year
ended December 31, 2017 available at www.sedar.com, many of which are beyond the control of
BTL. Forward-looking statements contained in this press release are expressly qualified by this
cautionary statement.
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The forward-looking statements contained in this press release are made as of the date of this
press release. Except as required by law, BTL disclaims any intention and assumes no obligation
to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise. Additionally, BTL undertakes no obligation to comment on the expectations
of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.