VANCOUVER, BC, Oct. 31,
2023 /CNW/ - LQWD Technologies Corp. (TSXV: LQWD),
(OTC: LQWDF) ("LQWD" or the "Company") announces has filed its
financial results for the six-months ending August 31, 2023. A copy of LQWD's financial
statements and management discussion and analysis for the interim
period ending August 31, 2023, are
available on SEDAR+ at www.sedarplus.ca and on the company's
website at www.lqwdtech.com.
Highlights for the reporting period include the implementation
of AI technology integrated into LQWD's Lightning Network nodes,
resulting in a 4,500% increase in channels for the
LQWD-Canada node. The node now
ranks among the top five nodes on the entire Lightning Network,
recently surpassing the Kraken exchange node.
During the reporting period, LQWD appointed accomplished public
company executive Alex P. Guidi to
its Board of Directors and closed two non-brokered private
placements totaling $1,182,000. LQWD
is well positioned to capitalize on its Lightning Network business,
with no debt, approximately $1.1
million in working capital, and ~114 Bitcoin
that is beginning to earn fees in the form of Satoshi's on the
network.
Overall growth of the Lightning Network continues to accelerate
at a phenomenal pace with network transaction volumes growing by
1,200% growth over the past two years. LQWD's 18 strategically
placed international nodes also continue to achieve growth reaching
transaction volume now over 240,000. With the implementation of AI
to the Company's operations, combined with exponential growth of
the Lightning Network, it is expected LQWD's Lightning business
will also increase at a rapid rate.
About LQWD Technologies
LQWD Technologies Corp. is a Lightning Network Liquidity
Provider focused on developing payment infrastructure and solutions
accelerating the global mega trend of Bitcoin adoption
through the Lightning Network. LQWD also owns Bitcoin
that is used as an operating asset establishing nodes and payment
channels on the Lightning Network.
Forward-Looking
Statements
This news release contains "forward-looking information"
within the meaning of applicable securities laws relating to the
Company's business plans and the outlook of the Company's industry.
Although the Company believes, considering the experience of its
officers and directors, current conditions and expected future
developments and other factors that have been considered
appropriate, that the expectations reflected in this
forward-looking information are reasonable, undue reliance should
not be placed on them because the Company can give no assurance
that they will prove to be correct. Actual results and developments
may differ materially from those contemplated by these statements.
The statements in this press release are made as of the date of
this release and the Company assumes no responsibility to update
them or revise them to reflect new events or circumstances other
than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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content:https://www.prnewswire.com/news-releases/lqwd-announces-interim-report-for-six-months-ending-august-31-2023-301973067.html
SOURCE LQwD FinTech Corp.