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Upco International Inc. Presents Interim Financial Statement for First Quarter 2021

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Vancouver, British Columbia–(Newsfile Corp. – July 5, 2021) – Upco International Inc. (CSE: UPCO) (OTC Pink: UCCPF) (FSE: U06) (“Upco”) is pleased to inform shareholders of the Interim FS 2021 first Quarter result. These documents can be accessed from the SEDAR web site at www.sedar.com.

Overview

The Company started the fiscal year 2021 with a clear objective to start making Revenue and reach the Breakeven as fast as possible.

Results of Operations – First Quarter – Three months ended March 31, 2021 compared to 2020

During the three months ended March 31, 2021, the Company incurred a net comprehensive loss of $152,725 (2020 -$312,328), again a reduction of 49% compared to previous period.

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Overall revenue has increased from prior periods due to the company restarting its Wholesale Telecom business. Going forward, the Company strongly believes that the messenger application, together with its new functionalities mentioned (“UpcoPay”) will scale up and revenue will clearly increase.

Revenue for the three months ended March 31, 2021 was $ 6,903 compared to $2,697 for the three months ended March 31, 2020 with a Gross Margin above 30%. The Company could only book revenue for the last week of March since a full reorganization took place beforehand.

Liquidity

As at March 31, 2021, the Company had positive working capital of $1,475,160 (December 31, 2020 – working capital deficit of $ 511,667) and a cash position of $1,821,800 (December 31, 2020 – $5,134).

Andrea Pagani, Upco International Inc CEO, said: “The result of the last year in controlling expenditure, reducing liabilities, renegotiating contracts all agreement brought a tangible result that will definitively change the value of our company, with a strong cash position and an operational team that is working. We will reach significant milestones going forward.”

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The Company’s complete Interim financial results are available in its Consolidated Financial Statements and Management’s Discussion and Analysis for the Fiscal Year first Quarter 2021, each filed with Canadian securities regulators at www.sedar.com.

IFRS

The operational and financial information in this release is based on the consolidated figures in accordance with International Financial Reporting Standard (IFRS).

About Upco International Inc.

Upco International Inc. is a cloud-based mobile service company which provides high-quality voice termination to a market driven by the growing activity in online communications and commerce. Upco is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to SKYPE and WhatsApp. With the forthcoming addition of the Upco e-Wallet using Blockchain Payment Services, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments. The application will also allow vendors to share account information securely with their clients.

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Please visit www.upcointernational.com for further information.

ON BEHALF OF THE BOARD OF DIRECTORS

Andrea Pagani, CEO and Director
[email protected]
+1 (646) 7661275

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “will” “may” “believe”, “expect”, “anticipate”, “intend”, “estimate”, “development”, “forthcoming”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. Upco cautions investors that any forward-looking information provided by Upco is not a guarantee of future results or performance.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89432

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

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EAT & BEYOND ANNOUNCES PROPOSED NAME CHANGE AND UPDATED INVESTMENT POLICY

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Blocks & Headlines: Today in Blockchain – May 30, 2025 (Fraser Edwards, Kyiv NFT, Spirit Blockchain Capital, Indian eHealth, Hedera)

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Blockchain technology and cryptocurrencies continue to redefine industries—from competitive gaming and cultural heritage preservation to corporate finance, healthcare, and alternative tokens. Today’s briefing highlights five pivotal developments shaping the ecosystem: Fraser Edwards’s vision for trust in eSports; Ukraine’s wartime cultural preservation via NFTs; Spirit Blockchain Capital’s Q1 2025 operational report; India’s push for blockchain-enabled electronic health records (EHRs); and the rise of viral altcoins such as UniLabs, Sui, and Hedera Hashgraph. Together, these stories illustrate the themes of trust and identity, preservation and provenance, institutional maturation, public-sector innovation, and token diversification. In this op-ed–style round-up, we distill the essence of each story, cite sources, and offer analysis on how they advance Web3, DeFi, and NFT frontiers.


1. Rebuilding Trust in eSports: Can Blockchain Fix Competitive Integrity?

Source: CCN

Summary:
In a recent CCN interview, veteran trader and eSports investor Fraser Edwards argues that blockchain’s immutable ledgers can restore credibility in the rapidly commercializing world of competitive gaming. According to Edwards, match-fixing scandals and opaque prize-pool distributions have eroded fan confidence. By tokenizing tournament entries and payouts on public blockchains—complete with smart-contract–enforced escrow—organizers can guarantee that prize monies are distributed exactly as advertised, and that no post-match manipulation occurs. Tournament operators in Asia and North America are already piloting Ethereum-based payout dApps, aiming to increase transparency for players and sponsors alike.

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Key details & analysis:

  • Smart-contract escrow: Funds are held in a time-locked contract that releases prize money only upon verifiable match results. This prevents disputes over referee decisions or delayed payments.

  • On-chain reputation: Player and team reputations can be tokenized via non-fungible reputation badges that accrue based on fair play and community votes—discouraging cheating.

  • Scalability concerns: High-traffic tournaments may require Layer 2 rollups or alternative chains (e.g., Polygon, Immutable X) to reduce gas costs and latency.

Opinion: Blockchain’s dual promise of provable fairness and programmable finance makes it uniquely suited to eSports. Yet adoption hinges on UX: seamless wallet integrations, minimal transaction fees, and clear regulatory guidance on esports tokens.


2. When Art Meets Blockchain: Ukraine’s Wartime Cultural Preservation

Source: The Kyiv Independent

Summary:
As monuments crumble under artillery fire, Ukrainian curators and technologists are partnering to mint NFTs representing lost or endangered artifacts. The Kyiv Independent reports that the National Art Museum of Ukraine has launched “Project Phoenix,” tokenizing high-resolution 3D scans of sculptures, manuscripts, and paintings. Proceeds from initial sales fund restoration and digital archiving efforts. Each NFT embeds provenance metadata—including GPS coordinates, curator notes, and condition reports—ensuring that future generations can verify authenticity and context, even if the physical artifact is destroyed.

Key details & analysis:

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  • Metadat­a richness: Beyond simple ownership, NFTs store structured metadata—using ERC-721 metadata extensions—that capture curatorial insights and conservation logs.

  • Decentralized archives: IPFS and Arweave are employed to host ultra-high-resolution imagery, with on-chain hashes guaranteeing data integrity.

  • Community engagement: Fractional-NFT drops allow diaspora communities to collectively own tokens, strengthening cultural ties and crowdfunding preservation.

Opinion: Blockchain’s ability to immutable record heritage provides a lifeline for war-torn nations. However, ensuring that local institutions retain governance over metadata edits and future migrations is critical to avoiding “cultural colonialism” by global NFT marketplaces.


3. Spirit Blockchain Capital’s Q1 2025 Highlights: Growth, Investments, and Outlook

Source: GlobeNewswire

Summary:
Spirit Blockchain Capital’s Q1 2025 report benchmarks the firm’s operational milestones and financial performance. Assets under management (AUM) climbed 45% to $1.02 billion, driven by strategic allocations to top-tier Layer 1 and Layer 2 protocols, DeFi liquidity pools, and a newly launched token-index fund. Operating income rose 37%, fueled by management fees and performance incentives. The firm also closed its second blockchain-focused venture fund at $150 million, earmarked for early-stage Web3 projects in gaming, infrastructure, and decentralized identity.

Key details & analysis:

  • Diversification strategy: 60% of AUM in blue-chip cryptocurrencies (Bitcoin, Ethereum); 25% in DeFi (Aave, Uniswap, Lido); 15% in tokenized commodities and NFTs.

  • Fund performance: The flagship fund delivered a 9.8% return in Q1, outperforming the 6.2% benchmark set by the Bloomberg Galaxy Crypto Index.

  • Venture investments: Early stakes in zero-knowledge proof startups and decentralized storage platforms signal confidence in scalability and privacy innovations.

Opinion: Spirit’s robust growth and disciplined diversification mirror institutional maturation in the blockchain asset management space. As regulatory clarity improves, expect further inflows from endowments, pensions, and family offices.

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4. Blockchain EHRs in India: The Next Digital Health Revolution

Source: ORF

Summary:
The Observer Research Foundation (ORF) details India’s pioneering pilot of blockchain-backed electronic health records (EHRs) in the state of Andhra Pradesh. By leveraging a permissioned Hyperledger Fabric network, the initiative ensures that patient records—from vaccination histories to diagnostic imaging—are securely shared across hospitals, clinics, and pharmacies. Patients control access via digital identities anchored to India’s Aadhaar system, granting temporal permissions for data viewing and preventing unauthorized sharing.

Key details & analysis:

  • Interoperability: HL7 FHIR standards are mapped to on-chain transactions, enabling seamless data exchange with existing hospital information systems (HIS).

  • Privacy safeguards: Off-chain storage of PHI (Protected Health Information) is encrypted with patient-held keys; only hashed pointers reside on-chain to ensure immutability without exposing sensitive data.

  • Regulatory alignment: The pilot aligns with India’s draft Digital Health Act, which emphasizes data sovereignty and patient consent frameworks.

Opinion: Blockchain EHRs can democratize healthcare access in a populous nation—but success depends on user-friendly portals, robust identity verification, and contingency plans for network outages in rural areas.


5. The Hottest Viral Altcoins of 2025: UniLabs, Sui, and Hedera Lead the Pack

Source: TronWeekly

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Summary:
According to TronWeekly, the altcoin landscape in 2025 is dominated by three viral tokens: UniLabs (UNI-L), Sui (SUI), and Hedera Hashgraph (HBAR). UniLabs, a governance token for a decentralized laboratory network, saw a 1,200% year-to-date surge on news of its AI-driven drug-discovery partnership. Sui’s Move-based smart-contract platform gained traction for sub-second finality and low gas fees, with total value locked (TVL) surpassing $2 billion. Hedera’s HBAR continues its enterprise pivot, securing multi-year agreements with global brands for identity verification and supply-chain tracking.

Key details & analysis:

  • UniLabs use case: Token holders vote on research grants and share in royalty revenues from patented compounds developed on-chain.

  • Sui performance: With a novel object model and horizontal sharding, Sui supports over 3,000 TPS (transactions per second) without compromising on decentralization.

  • Hedera enterprise: The Governing Council—comprising Boeing, Google, and LG—bolsters confidence in HBAR’s governance model and paves the way for compliant enterprise deployments.

Opinion: These tokens exemplify the diversification of blockchain applications. Investors should assess not only market hype but also protocol fundamentals—developer activity, economic incentives, and real-world adoption.


Cross-Story Trends & Key Takeaways

  1. Trust & Transparency at the Core
    From esports prize-pool ledgers to wartime NFT archives and permissioned health records, blockchain’s immutability fosters verifiable trust—a prerequisite for mainstream adoption across sectors.

  2. Institutional & Public-Sector Innovation
    Spirit Blockchain Capital’s fund growth and India’s EHR pilot signal that both private and government entities view blockchain as a strategic infrastructure, not just speculative assets.

  3. Vertical Specialization Fuels Token Growth
    Viral altcoins like UniLabs, Sui, and Hedera thrive by addressing niche use-cases—governance in biotech, scalable DeFi rails, and enterprise identity—underscoring the importance of purpose-built protocols.

  4. Metadata & Provenance Drive NFTs Beyond Art
    Ukraine’s cultural NFTs demonstrate how rich on-chain metadata can preserve heritage, while esports applications show that reputation tokens can enforce fair-play credentials.

  5. Ecosystem Maturation Requires UX & Governance
    Across all stories, user experience—wallet onboarding, identity verification, metadata curation—and robust governance frameworks (tokenomics, regulatory alignment) emerge as decisive factors in blockchain’s next wave.


Conclusion

Today’s blockchain headlines reveal a maturing ecosystem where trust, transparency, and targeted innovation unlock new frontiers—from safeguarding digital heritage amid conflict to revolutionizing healthcare and sports. As institutional players allocate billions, and public-sector pilots chart regulatory pathways, the fate of tomorrow’s Web3 landscape hinges on seamless UX, rigorous governance, and demonstrable real-world utility. Stay tuned for tomorrow’s Blocks & Headlines, where we’ll continue tracking the trends, tokens, and technologies that define the blockchain revolution.

The post Blocks & Headlines: Today in Blockchain – May 30, 2025 (Fraser Edwards, Kyiv NFT, Spirit Blockchain Capital, Indian eHealth, Hedera) appeared first on News, Events, Advertising Options.

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Kyrgyz Republic to launch USDKG, a gold-backed stablecoin pegged to the U.S. Dollar, in Q3 2025

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