Annonce • Jun 15
Metasphere Labs Inc. Announces Changes to its Board Metasphere Labs Inc. announced the appointment of Mr. Guy Bourgeois as a new independent director of the Company, with immediate effect. Mr. Bourgeois has served as an owner, investor, advisor, or board member in dozens of innovative companies over the past 30 years. He is skilled in raising capital, obtaining government grants, expanding global business development and creating smart business strategies. He is a seasoned professional with decades of broad expertise centered around commercial growth and innovative/disruptive technological developments. Additionally, the Company announced the resignation of Ms. Armita Jalooli as a director of the Company, with immediate effect. Annonce • May 18
Metasphere Labs Inc. Unveils Decentralized Identity System At Consensus 2024 and Announces Carbon Aware Routing Protocol Metasphere Labs Inc. announced its participation in Consensus 2024 alongside Bot Ventures Inc., where they will unveil an early demonstration of their innovative decentralized identity and domain name system. This platform utilizes Bitcoin blockchain technology to enhance online security and trust through decentralized digital identity solutions. New Carbon Aware Routing Protocol Initiative: In addition to the demonstration, the Company is excited to announce a pioneering initiative to develop a carbon aware routing protocol for computer networks and the Internet. This protocol will enable Internet Service Providers (ISPs) and network participants to route data packets by prioritizing routes that minimize carbon emissions instead of focusing solely on the number of hops.Why Carbon Aware Routing is Needed: The Internet is a significant contributor to global carbon emissions due to the energy consumed by data centers and network infrastructure. This trend will only increase exponentially with compute-intensive AI and Metaverse applications. Current routing protocols optimize for speed and cost, often disregarding the environmental impact. By implementing a carbon aware routing protocol, ISPs can make more environmentally conscious decisions, significantly reducing the Internet's carbon footprint. This innovative protocol will also provide real-time analytics of Internet routing, enabling ISPs to monitor and offset their emissions. The integration of these analytics will allow for greater transparency and accountability in managing carbon emissions across the digital landscape. Metasphere aims to unveil this protocol at Mobile World Congress Americas and plans to submit it to the Internet Engineering Task Force (IETF) within the same timeframe. Annonce • Feb 24
Looking Glass Labs Ltd. Appoints Natasha Ingram as Chief Executive Officer Looking Glass Labs Ltd. announced the appointment of Mrs. Natasha Ingram as its new Chief Executive Officer. Mrs. Ingram, a seasoned entrepreneur and marketing virtuoso, brings a wealth of experience and a fresh perspective to Looking Glass Labs. Before joining the Company, Mrs. Ingram was the founder of the digital agency, Transparency Digital, showcasing her strategic vision and execution prowess. In her new role, Mrs. Ingram is set to direct the Company's innovative efforts in developing cutting-edge Open Metaverse applications and digital assets, leveraging the power of Unreal Engine development and blockchain technology. Under her guidance, Looking Glass Labs will focus on creating applications that not only push the boundaries of virtual worlds but also prioritize environmental sustainability, social impact, and the promotion of freedom of speech. The Company also extends its heartfelt gratitude to Mr. Jared Gurfein for his dedicated service as the outgoing CEO. Mr. Gurfein's visionary leadership has been instrumental in positioning Looking Glass Labs on its current trajectory of growth and innovation. Looking Glass Labs is poised for an exciting new chapter under Mrs. Ingram's leadership, with a focus on expanding its reach in the Open Metaverse sector and making a positive impact on society. Annonce • Feb 09
Looking Glass Labs Ltd. (NEOE:NFTX) completed the acquisition of Climate and artificial intelligence (AI) web3 assets from Bot Media Corp. Looking Glass Labs Ltd. (NEOE:NFTX) entered into a definitive agreement to acquire Climate and artificial intelligence (AI) web3 assets from Bot Media Corp. for CAD 0.77 million on February 6, 2024. The acquisition includes carbon.bot and climate.bot. Under the terms of the Purchase Agreement, LGL will issue a total of 3.06 million Consideration Shares to the Vendor, each valued at CAD 0.25, at the time of closing. These shares will be subject to a statutory hold period of four months and one day, starting from the closing date. Transaction is subject to Looking Glass Labs Ltd. final due diligence and the approval of Cboe Canada.
Looking Glass Labs Ltd. (NEOE:NFTX) completed the acquisition of Climate and artificial intelligence (AI) web3 assets from Bot Media Corp. on February 8, 2024. Annonce • Dec 19
Looking Glass Labs Ltd. Announces Chief Executive Officer Changes Looking Glass Labs Ltd. announced the appointment of Jared Gurfein as the Chief Executive Officer (the CEO) of the Company as of the date hereof. Jared L. Gurfein, Esq. began his legal career as a law clerk to the Honorable Milton Pollack in which he helped author leading cases relating to insider trading, securities law and public exchanges. Subsequently he was a Mergers & Acquisition and Corporate Finance lawyer with Skadden, Arps, Slate, Meagher & Flom LP, followed by his role as Deputy General Counsel and later General Counsel of NTL Incorporated (now Virgin Media). Subsequently he co-founded Lucid Absinthe as President & CEO, legalising Absinthe in the USA after a 95-year ban, selling the Company for a significant return to its investors. Currently Mr. Gurfein is a member of Hawkwood Group, LLC, and owns his own private law firm, Jared L. Gurfein, Esq., practicing in a wide range of commercial and corporate work with an emphasis on technology, early-stage companies and beverage alcohol work. Mr. Gurfein has served C-suite positions to several companies spanning various industries throughout his career, devoting as much time to business as he has to law. Current Directorships: Hawkwood LP (USA) and Jared L. Gurfein, Esq. PLLC (USA). Mr. Dorian Banks has resigned as the CEO of the Company and from all director and officer positions of the Company’s subsidiaries, with immediate effect. Reported Earnings • Dec 17
First quarter 2024 earnings released: EPS: CA$0.15 (vs CA$1.42 loss in 1Q 2023) First quarter 2024 results: EPS: CA$0.15 (up from CA$1.42 loss in 1Q 2023). Revenue: CA$651.6k (up 375% from 1Q 2023). Net income: CA$296.3k (up CA$2.65m from 1Q 2023). Profit margin: 46% (up from net loss in 1Q 2023). New Risk • Nov 27
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 11x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Negative equity (-CA$4.1m). Revenue has declined by 91% over the past year. Shareholders have been substantially diluted in the past year (over 11x increase in shares outstanding). Revenue is less than US$1m (CA$655k revenue, or US$480k). Market cap is less than US$10m (UK£3.20m market cap, or US$4.03m). Annonce • Nov 24
Looking Glass Labs Ltd. announced that it has received CAD 1.0005 million in funding On November 23, 2023, Looking Glass Labs Ltd. closed the transaction. The company amended the terms of the transaction and issued 10,005,000 units at a price of CAD 0.10 per unit for the gross proceeds of up to CAD 1,000,500. Reported Earnings • Nov 02
Full year 2023 earnings released: CA$6.79 loss per share (vs CA$9.09 loss in FY 2022) Full year 2023 results: CA$6.79 loss per share. Revenue: CA$655.0k (down 91% from FY 2022). Net loss: CA$12.4m (loss widened 4.0% from FY 2022). Annonce • Oct 18
Looking Glass Labs Ltd. Announces Board Changes Looking Glass Labs Ltd. announces that Lucas Stemshorn-Russell has resigned as a director with immediate effect. The Company wishes to thank Mr. Stemshorn-Russell for his services to the Company and wishes him well with his future endeavors. Following the resignation of Mr. Stemshorn-Russell, the Company announced the appointment of Armita Jalooli to the board of directors effective with immediate effect. Ms. Jalooli is experienced in tokenomics, technical research in the cryptocurrency, blockchain and theoretical particle physics. She was the CEO and co-founder of a start-up that was acquired in less than one year of operation. She holds two master’s degrees from world-class universities, including Business Management from the Schulich School of Business and Computer Engineering from University of Toronto in Ontario. She specialises in the intersection of machine learning and finance and has received multiple top scholarships throughout her education. She advises start-ups with their strategies and business proposals. Reported Earnings • Jun 17
Third quarter 2023 earnings released: CA$0.021 loss per share (vs CA$0.045 loss in 3Q 2022) Third quarter 2023 results: CA$0.021 loss per share (improved from CA$0.045 loss in 3Q 2022). Revenue: CA$344 (down 100% from 3Q 2022). Net loss: CA$2.80m (loss narrowed 46% from 3Q 2022). Annonce • Jun 06
Looking Glass Labs Ltd. Launch of Its Next Version Pocket Dimension Looking Glass Labs Ltd. announced the launch of its next version Pocket Dimension. LGL's Pocket Dimension metaverse is an online virtual space providing their owners and users a virtual space represented by one of eleven different environments including Archipelago, Countryside, Dale, Dunes, Fjord, Marsh, Savanna, Tundra, Woodland, Zen, and Genesis Moon. Each environment represents a unique representation of one of Earth's ecosystems. Users of Pocket Dimension interact with other users through avatars. On November 1, 2022, LGL launched the alpha version of Pocket Dimension, followed by the launch of the beta version on February 21, 2023. The Company has followed up on the previous versions and have launched its public release version of Pocket Dimension. Reported Earnings • Mar 19
Second quarter 2023 earnings released: CA$0.045 loss per share (vs CA$0.045 loss in 2Q 2022) Second quarter 2023 results: CA$0.045 loss per share (in line with 2Q 2022). Net loss: CA$6.05m (loss widened 17% from 2Q 2022). Annonce • Jan 27
Looking Glass Labs Ltd. Announces Change to Board of Directors Looking Glass Labs Ltd. announced that Adam Deffett has resigned from its Board of Directors to pursue other endeavours. The Board thanks Mr. Deffett for his service to the Company during his tenure as an in dependent Director. In his place, LGL announced that James Henning has been appointed as an independent Director to the Board effective immediate. As a Chartered Accountant, Mr. Henning has been the Founder and President of Corpfinance Advisors Inc. since 1984. James is an expert with practical experience in valuating businesses in a broad range of industries and he has assisted companies with financings, public offerings and restructurings. His areas of expertise include the retail cannabis, manufacturing, telecommunications, software, biomedical, oil and gas services as well as renewable energy industries. Mr. Henning has served as a Chief Financial Officer and Director for a number of companies listed on the TSX Venture Exchange and the Canadian Securities Exchange over the past several years. Annonce • Dec 30
Looking Glass Labs Ltd Announces Board Changes Looking Glass Labs Ltd. announced that Carl Chow has resigned from its Board of Directors to pursue other endeavours. The Board of Directors thanks Mr. Chow for his service to the Company over the past year. In his place, LGL announces that Lucas Russell has been appointed to the Board of Directors effective December 29, 2022. Mr. Russell has over a decade of experience in the financial markets and has been involved with entrepreneurialbusinesses for over 15 years, including the development and financing of start-ups. He has served on boards and executive teams of several publicly traded companies, guiding them from private to public corporations including the turnaround and eventual sale of a cannabis company which was led from near bankruptcy to an eight-figure exit in under two years. Mr. Russell has been an early and active investor in several successful crypto start-ups and currently serves as CEO & President of Cloud Nine Web3 Technologies (CSE: CNI), where he is actively developing new Web3 technologies and implementing its new business strategy and direction. Mr. Russell is passionate about building company value and finding accretive acquisitions for corporations. Annonce • Dec 29
Looking Glass Labs Ltd.'s Subsidiary House of Kibaa Advances the Development of Its Pocket Dimension Metaverse Offering Looking Glass Labs Ltd. announced that its wholly-owned subsidiary, House of Kibaa (HoK), has significantly advanced the development of its Pocket Dimension metaverse offering (the Pocket Dimension). Through the impending achievement of numerous avatar-based and architecture-related milestones, the Company expects to set a new standard for the metaverse industry. Pocket Dimension has already reached, and will soon also reach, several new thresholds for its digital world: 10,000 unique generative avatars in ultra-high resolution via Unreal 5; 12,000 unique generative Gutter Cat Gang avatars in ultra-high resolution; Holders own their metaverse to use and design as they so choose; Holders of membership tokens are each entitled to receive a free metaverse; and A generative avatar project with a spin-off live-action video series, GenZeroes. Previously, the Alpha Update of Pocket Dimension Alpha Update release in the fourth quarter of 2022 included the following upgrades for users: 11 unique four-acre parcels of ultra-realistic land; Two stock playable avatars; Four NFT art galleries displaying stock artwork; Non-player character host interactions; Mini games; and The Gutter Trap House in affiliation with the Gutter Cat Gang. The 2022 end-of-year update to Pocket Dimension currently in progress includes the following enhancements: Ultra-high resolution art galleries to display a user's NFTs from their connected wallet; A larger collection of approximately 60 stock playable avatars; and A patch manager for easier access to future updates (Windows build-only, at this time). In early 2023, HoK will be working to add Unity 4 and pixel streaming to Pocket Dimension. This addition is designed to enable Pocket Dimension to be available on virtually any device and bandwidth connection, which is expected to be a milestone for the metaverse industry. Reported Earnings • Dec 15
First quarter 2023 earnings released First quarter 2023 results: CA$0.019 loss per share. Net loss: CA$2.35m (flat on 1Q 2022). Annonce • Dec 10
Looking Glass Labs Ltd.'s Subsidiary House of Kibaa Develops its Ultra Realistic Metaverse Offering and Custom Tools to Allow Partners to Create Highly Customizable and Engaging Experiences for Their Customers Looking Glass Labs Ltd. announced that its wholly owned subsidiary House of Kibaa (HoK) has developed the technical platform and preliminary suite of tools to create tailored brand activations inside of its metaverse offering. LGL is working swiftly to provide the software tools to help maximize the industry's mainstream adoption and commercial growth. The Company is currently working to establish partnerships with a target set of companies and organizations to further cement the Company's ultra realistic metaverse as a revenue driving platform. GL's metaverse offering currently has 11 environments that will be fully customizable. The Company is focused on fast-tracking its ability to create entire worlds, with architecture and experiences bespoke to any brand or creator activation. Consumers of all experience levels are expected to be able to easily access these digital metaverse activations based on the Company's incorporation of Unreal Engine 5, Unity 4 and pixel streaming, with plans to provide both mobile and desktop flexibility. Metaverse experiences are being planned to range from new product activations to entire worlds built for corporate clients. The types of activations include but are not limited to: Bespoke virtual brand worlds; Custom experiences in the pre-built LGL land types; Gated and ticketed digital experiences including festivals, concerts, meet and greets, and more; Immersive digital live streams; and Retail and product drop events. The Company is also in the process of developing partnerships with media companies, marketing organizations, automotive brands, fashion companies and others, in order to create the most diverse and realistic metaverse experience for all users and brands. This is expected to allow brands to create further value by monetizing existing products, services and/or intellectual properties. This initiative is also being pursued in order for LGL to capture incremental revenue through ongoing royalty streams and product sales. Board Change • Nov 17
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. No experienced directors. No highly experienced directors. Independent Director Adam Deffett is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.