XY – The Persistent Company Announces 2018 Full-Year Audited Financial Report and Results

2018 Marked by Continued Global Sales Growth, Employee and Location
Buildout, Increased Community Support for XYO Platform and Ecosystem

SAN DIEGO–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/ETH?src=hash” target=”_blank”gt;#ETHlt;/agt;–XY – The Persistent Company, parent company to XYO,
the geospatial cryptonetwork, today reported financial results for the
full fiscal year ending December 31, 2018.

Revenue for the full fiscal year 2018 was approximately $21.6 million,
as compared to approximately $1 million in revenue for the prior fiscal
year. In 2018, the Company launched the Geomining Kit product, which
contributed to strong revenue growth in hardware sales. Additionally,
the Company introduced the “XYO” blockchain protocol, and conducted a
Token Sale. The sale of XYO Tokens and the significant increase in sales
of XY Findables products in the U.S. and abroad contributed to growth.

Report Highlights:

  • 2018 was defined by high sales growth and continued development of the
    XYO Network blockchain platform;
  • Gross profits for the period ending December 31, 2018 were $16
    million, up $15.7 million, on a year-over-year basis;
  • Approximately $15.9 million in sales were attributable to the sale of
    XYO tokens;
  • Net Income increased $1.7 million year-over-year, up from a loss of $2
    million over the same period in 2017;
  • The Company raised approximately $6 million, net of issuance costs,
    through a Reg A+ offering. The primary uses of this capital were R&D
    and Marketing expenses to support the development of the XYO Network.

“We’re pleased with our solid business growth and progress over the
course of 2018, and look forward to an even more successful 2019 as we
build out a global, fully distributed geospatial cryptonetwork and
ecosystem of IoT devices,” commented Arie Trouw, Co-Founder and CEO at
XY and XYO. “We remain focused on a few key areas: building out our
technology and a decentralized ‘Dataist’ network, deepening our industry
partnerships, and engaging even more fully with our global XYO
Community.”

The full 1-K report for the fiscal year ending December 31, 2018 is
available on the Securities and Exchange Commission (SEC) website here: https://www.sec.gov/Archives/edgar/data/1577351/000119312519133301/d689828dpartii.htm

Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995. This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as amended and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include all statements that are not
statements of historical fact contained in this press release, and may
be identified by words such as “anticipates,” “believes,” “seeks,”
“estimates,” “expects,” “intends,” “may,” “plans,” “potential,”
“predicts,” “projects,” “should,” “could,” “will,” “would,” or similar
expressions and the negatives of those expressions. In particular,
forward-looking statements contained in this press release relate to,
among other items, the company’s future or assumed development of the
XYO Network and market adoption of that network. These statements
involve a high degree of risk and uncertainty, are predictions only and
actual events or results may differ materially from those projected in
such forward-looking statements. Factors that could cause or contribute
to differences include the uncertainty regarding viability and market
acceptance of the company’s products and services, the ability to
complete software development plans in a timely manner, changes in
relationships with third parties, product mix sold by the company and
other factors described in the company’s most recent periodic and other
filings with the Securities and Exchange Commission, including its
Offering Circular on Form 1-A, 2017 Annual Report on Form 1-K and
semi-annual reports on Form 1-SA. Investors are cautioned not to place
undue reliance on these forward-looking statements, which speak only as
of the date of this press release. The company undertakes no obligation
to update or review any forward-looking statements in this press release
because of new information, future events or other factors.

About XY – The Persistent Company

Since 2012, XY has been on a mission to decentralize the world’s
location data. XY is the company’s consumer-facing brand of Bluetooth
and GPS findable devices. XY has become a leading technology in the
device tracking vertical and has introduced a real-world network of
Bluetooth and GPS/Cellular Beacons that interact every day in the real
world.

About XYO

Since 2012, with a Dataist focus, XYO has developed trusted IoT
technology that connects the digital world with the physical one. In
2018, the company unveiled the XYO Network, the world’s first geospatial
blockchain network backed by cryptography. With more than 1 million
location-verifying beacons around the planet, XYO technology rivals the
GPS network, and radically transforms the world’s leading industries.
Partners include mapping giant Esri, FedEx Research Institute, Re/Max
Mexico and Spaceflight Industries. XYO Advisors come from leading
organizations including National Geographic and the World Economic
Forum. For more information, visit us at www.xy.company
and https://xyo.network.

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Contacts

Larry Smalheiser
Head of Communications
XYO
[email protected]

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