Looking Glass Labs files financial statements for the third quarter ended April 30, 2023
VANCOUVER, British Columbia, June 14, 2023 (GLOBE NEWSWIRE) — Looking Glass Labs Ltd. (“LGL” or the “Company”) (NEO: NFTX) (AQSE: NFTX) (OTC: LGSLF) (FRA: H1N)announces its financial results for the third quarter ended April 30, 2023. The Company’s interim consolidated financial statements for the interim period ended April 30, 2023, as well as the related management discussion and analysis are filed under the Company’s profile on SEDAR at www.SEDAR.com.
ABOUT APPEARANCE GLASS LABS
Headquartered in Vancouver, British Columbia, Looking Glass Labs (“LGL“) specializes in consumer engagement applications to leverage immersive metaverse environments, games to earn tokenization and blockchain monetization strategies. Its flagship brand, House of Kibaa (“HoK“), designs and curates a next-generation metaverse for 3D assets, allowing functional art and collectibles to co-exist across different NFT blockchain environments.
On behalf of LOOKING GLASS LABS LTD.
“Dorian Banks“
Dorian Banks, Managing Director
For further information, please contact:
Dorian Banks
Toll Free: +1 833 LGL-NFTX (833-545-6389)
Email: [email protected]
Forward-looking information
This press release contains “forward-looking statements.” Statements in this press release that are not purely historical are forward-looking statements and include statements of beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, but are not limited to: the continued development of Pocket Dimension, development of immersive metaverse environments, games to earn tokenization and blockchain monetization strategies; pursue partnerships to monetize blockchain and Web3 opportunities; and the immediate projects and future projects.
The material assumptions supporting these forward-looking statements include, among other things, that: the Company can mitigate the risks associated with the blockchain and NFT industry; the ability to compete with other businesses in the NFT market; the availability of sufficient financing to carry out the company’s business development plans; favorable market conditions; HoK’s ability to sell all or substantially all of its product offerings; and the market’s acceptance of the products.
Although management believes these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. These forward-looking statements are only predictions and involve known and unknown risks, uncertainties and other factors, including: the continued growth and adoption of NFT and metaverse offerings in the consumer market; the cost of developing and designing NFTs and metaverses is economically viable; that the Company is able to attract and retain a sufficient workforce with desired skills to develop the Company’s NFT and metaverse offerings; the availability of offers provided by third parties in NFT, metaverse development and the online gaming market to identify potential transactions; the growing use of NFTs as a solution for various online games, entertainment and collectibles; the company that has the ability to mitigate the risks associated with the blockchain and NFT industry; and the opportunity to compete with other businesses in NFT, metaverse development, content creation and collectibles.
Although management believes these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. These forward-looking statements are only predictions and involve known and unknown risks, uncertainties and other factors, including: the risk that the Company’s offerings are not accepted by the consumer, the risk that other competitors may offer similar digital offerings; the risk that there may be adverse changes in general economic and business conditions; the risk that the Company may have negative operating cash flow and insufficient capital to complete the development of any of its technologies; the risk that the Company is unable to obtain additional financing as needed; the risk that there may be increases in capital and operating costs; the risk that the NFT technology may be subject to fraud and other errors; the risk that there may be technological changes and developments in the blockchain that make the NFT solutions obsolete; risks related to regulatory changes or actions that may impede the development or operation of the blockchain solutions; the risk that other competitors may release similar blockchain offerings; the potential future unviability of the NFT market generally; the volatile cost of the amount of computational effort required to perform specific operations on the blockchain, and other general risks involved in the blockchain solutions.
Risks and uncertainties associated with the Company’s operations are more fully discussed in the Company’s disclosure materials, including its reports filed with the Canadian securities regulators and which may be obtained from www.sedar.com.
Any of these risks could cause the Company’s actual results, levels of activity, performance or performance to differ materially from any future results, levels of activity, performance or performance expressed or implied by these forward-looking statements. Furthermore, although the Company has attempted to identify factors that could cause actual results, activity levels, performance or achievements to differ materially from those described in forward-looking statements, there may be other factors that cause results, activity levels, performance or achievements not to be be as expected, estimated or intended. These forward-looking statements are made as of the date of this press release, and the company undertakes no obligation to update the forward-looking statements, or to update the reasons why actual results may differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States and Canada. Although the Company believes that any beliefs, plans, expectations and intentions contained in this news release are reasonable, no assurance can be given that such beliefs, plans, expectations or intentions will prove to be accurate. The company does not assume any responsibility for publication relating to other companies mentioned here.
SOURCE: LOOKING GLASS LABS LTD.
