Majic Presents CGCX Revenues & Business Lines
Houston, Texas, Aug. 27, 2021 (GLOBE NEWSWIRE) -- Majic Wheels, Corp. (OTC Pink: MJWL) ("Majic" or the "Company"), a Delaware corporation, that is positioning itself as a player in the disruptive industries of fintech and software development by means of acquisitions, provides recap and summary of the online corporate presentation held on August 22nd, 2021.
The Company wishes to provide a recap of the online presentation hosted on August 22nd, 2021. To that end, we refer investors and shareholders to the video currently hosted on the homepage of the Company’s Corporate website. A PDF version of the presentation is also available for viewing on the following link.
“Our shareholders had been eager to learn more details about the Company, its history, its accomplished milestones but more importantly its current and projected revenues as well as the planned milestones. We share this journey with our shareholders, and we want to share both the accomplished milestones and the excitement over the hard work being put into reaching the future ones” said Dr. Vin Menon, co-founder of CGCX.
During the presentation the Company elaborated on the:
- History of CGCX & Roadmap
- Geographical Presence
- Leadership & Strategic Partners
- Business Lines
- Revenues & Projections
- Outlook
Roadmap
The key points in the roadmap consisted of:
- CGCX Crypto Mining Farm Pilot Launch in Q3 of 2021
- BGBF agreement to be announced in Q3 of 2021
- India Crypto Exchange acquisition in Q4 of 2021
- Blockchain Insurance Solution acquisition in Q4 of 2021
Geographical Presence
As of now, CGCX operates in the markets of Singapore, Malaysia, and Mauritius. New markets to be announced are:
- India
- United Arab Emirate (UAE)
- United States of America (USA)
Business Lines
The three business lines and their respective levelized contributions to earning will consist of:
- CGCX Exchange (46%)
- CGCX Custody Solutions (13%)
- CGCX Mining Operations (41%)
Revenues & Projections
- For the 12 months ending on December 31, 2020, revenues were USD 5,281,500
- For the 6 months ending on June 30, 2021, revenues were USD 5,117,136
For the remainder of 2021, additional revenues will be realized from the India Crypto Exchange, the Custody Solutions, and the Crypto Mining business lines. The projected revenues for the year ending December 31st, 2021, and the following two years are:
- 2021: USD 22.9M
- 2022: USD 142.7M
- 2023: USD 446.8M
Subbu Vempati, Chief Financial Officer of CGCX added “We have been experiencing a strong growth of our exchange in the markets we are currently present in. For the first six months of this year, our Company has already reached revenues of FY 2020. Our net profits have doubled. We expect to continue to have an exponential growth as we continue to enter new markets. Concurrently, our other business lines of Custody Solutions and Cryptocurrency farming will start to contribute to earnings starting in Q3 and show strong growth,”.
About Majic Wheels Corp.
Majic Wheels Corp Inc., a Delaware holding corporation, intends to position itself as a player in the disruptive industries of Fintech and software development by means of multiple acquisitions. The Company's first acquisition is the cryptocurrency exchange, cryptocurrency mining farm and custody services platform: Calfin Global Crypto Exchange (CGCX). Majic Wheels Corp. is listed and traded on the Over-the-Counter Market under the trading symbol "MJWL".
For more information about the Company, visit:
Our OTC Markets Profile:
Our website is:
Our Twitter account is:
Our Discord:
About CGCX Ltd.
Founded in 2018, Calfin Global Crypto Exchange CGCX set out to offer a highly sophisticated cryptocurrency exchange for a seamless & secure crypto trading experience. Unlike most exchanges that offer only cryptocurrency trading, CGCX caters to the larger blockchain community by providing four services under a single platform.
CGCX Website:
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
SOURCE: Majic Wheels Corp.
FOR MORE INFORMATION, PLEASE CONTACT:
David Chong
Email:
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