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Valereum PLC on Monday reported a widened loss for 2021 on higher administrative expenses.
Valereum is a Gibraltar-based company focused on linking US dollar and sterling into the world of crypto currencies.
Shares were down 1.9% at 23.56 pence in London on Monday morning.
For 2021, Valereum posted a significantly widened pretax loss of £1.8 million from £61,967 a year ago. It reported no revenue for 2021, unchanged from 2020. The widened loss was driven by higher administrative expenses.
Chair Richard Poulden said: ‘The two major developments during the year were firstly, the taking of an option over 80% of the Gibraltar Stock Exchange and secondly the development of our Non-Fungible Token strategy.
‘I see a very exciting year ahead for Valereum through 2022 and beyond as we grow the GSX into a vibrant and relevant global market place and expand our footprint with innovative NFT related products.’
The company said 50% of the acquisition of GSX has been paid.
Looking ahead, the company aims to engage with any jurisdiction where it sees valid opportunities to expand.
‘During the latter part of this year, we intend to seek an additional listing on a larger European market. We will announce the details of these plans as soon as they are finalised,’ it added.
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