Majic reports first consolidated financials with revenues of 6.28m in revenues & 173m in Assets

Majic reports first consolidated financials with revenues of 6.28m in revenues & 173m in Assets

By Edlyn Cardoza

Majic Wheels, Corp., a Delaware corporation that is positioning itself as a player in the disruptive industries of FinTech and software development. Majic’s CGCX subsidiary has a Digital Asset Platform that brings value from the diversified business model and security to the clients through insurance and infrastructure, offering services such as Crypto Exchange, Digital Custody Services and Token Listing Platform under one-fold and developing various software solutions for the broad blockchain industry.

The Company is happy to report that it has posted its first consolidated financial statements since the acquisition of CGCX. Total revenue for the third quarter (2021-Q3) and the combined previous two quarters (2021-Q2 and 2021-Q1): USD 6,277,704 and USD 5,117,136, respectively.

“We are proud of the results of the CGCX team. The growth and results both met and exceeded our expectations and projections,” said David Chong, Chief Executive Officer of Majic Wheels, Corp.

Dr. Vin Menon, Co-Founder and Strategic Advisor of CGCX, added: “We continue to have momentum in our growth and our path remains clear. We believe this growth will continue into the coming quarter and next year. We are proud of the accomplishments of CGCX and the value we are creating for the shareholders”.

Majic’s CGCX subsidiary has a Digital Asset Platform that brings value from the diversified business model and security to the clients through insurance and infrastructure, offering services such as Crypto Exchange, Digital Custody Services and Token Listing Platform under one-fold and developing various software solutions for the broad blockchain industry. Majic Wheels Corp. is listed and traded on the OTC Markets under the trading symbol “MJWL”.