Strategic Acquisitions, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 15, 2022 at 10:31 am
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Strategic Acquisitions, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported net loss was USD 0.00613 million compared to USD 0.0036 million a year ago.
For the six months, net loss was USD 0.011434 million compared to USD 0.013726 million a year ago.
Strategic Acquisitions, Inc., through its subsidiary, Exworth Union Inc (Union), is engaged in providing loans collateralized by digital assets. The Company originates United States (US) dollar-denominated loans and offers loans to both individual and business borrowers who own digital assets and desire to borrow against such digital assets rather than selling them. Borrowers that receive loans from the Company are required to transfer a specified value of digital assets to the Company to be held as collateral and security for the repayment of the loans. Upon maturity and repayment of a borrowerâs loan, the digital asset collateral is returned to the borrower. The Company also provides loan administration services to borrowers and lenders. The Company offers processing loan payments, forwarding information to counterparties, responding to inquiries, keeping loan profile records, preparing loan statements, and managing bank accounts and collateral accounts.