Income Boost from Bitcoin & Digital asset recoupment to positively impact Balance Sheet and liquidity

In brief · summary, not quotable

Company recovers approximately 5 Bitcoin (£400,000) in historical referral costs, adding to balance sheet as other income.

Recovered Bitcoin 5 Bitcoin
Value at announcement approximately £400,000

Full announcement

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Income Boost from Bitcoin

Digital asset recoupment to positively impact Balance Sheet and liquidity

Tap Global Group Plc (AQSE: TAP), an innovative digital finance hub that brings money payments and cryptocurrency settlement services together in a single user-friendly app, announces an income boost for the current financial year ending 30 June 2025 from the recoupment of Bitcoin rewards paid out between 2020-2024 as referral incentives.

In line with Tap Group’s strategy to focus on high-quality users and account activation opportunities, the Company recently conducted a review of registered user accounts. In doing so, the Company identified historical referral costs totalling approximately 5 Bitcoin (worth approximately £400,000 at today’s prices) which were eligible for recoupment.

These Bitcoin assets have been added to the Company’s Balance Sheet and will be managed in accordance with the Company’s digital asset management plan, which allows for up to 50% of the Company’s cash and cash equivalent assets to be held in the form of digital assets. The accounting treatment for the recovery of these historical referral costs is being finalised but it is expected to be recognised as ‘other income.’

Considering record revenues reported for the first half of the current financial year (see 28 March 2025 announcement), and robust trading in the second half, this income boost further enhances the Company’s balance sheet, liquidity and profitability.

Arsen Torosian, CEO of Tap Group, commented:

“A recent review of user accounts as part of a broader operational focus on high-quality users has produced a windfall through the recoupment of historical referral bonuses that were paid out in Bitcoin and were eligible for recovery by the Company. This income boost will further support ongoing growth initiatives including the activation of new revenue streams. We look forward to reporting record revenues and a first full year of positive EBITDA.”

The Directors of the Company accept responsibility for the contents of this announcement.

Tap Group’s operating subsidiaries

Learn more:

LinkedIn: https://www.linkedin.com/company/tapglobal/

X: https://x.com/TapGlobalPlc

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