As a service to the company’s shareholders and with the purpose to increase transparency, Crunchfish has commissioned Västra Hamnen to conduct analysis of the company. The analysis includes an independent review of the company, markets, products, and competitors as well as a financial scenario that serves as a basis for a discounted cash flow estimation of a market cap of the company.

In the analysis, Västra Hamnen writes: “Crunchfish has taken huge strides in its development of an architecture for digital payments. Its solutions answer many of the challenges that the future of payments is faced with, such as convenience, speed, security, robustness, interoperability and anonymity. We see a distinct possibility that Crunchfish’s solutions could be adopted on a broad scale across the payment industry around the world.”

In the analysis, an unchanged share price interval according to the DCF model of 41.60 SEK – 66.20 SEK per share is stated. The analysis is attached and available on Västra Hamnen’s and Crunchfish’s websites.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

This information was provided by the contact person above for publication on 31 March 2022 at 14:00 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com

Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

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Crunchfish and ToneTag work together to explore Digital Cash opportunities using ToneTag’s patented sound technology. ToneTag, a Bengaluru-based startup backed by Amazon and MasterCard, uses sound waves to enable contactless communication on any device. This webinar on Crunchfish Digital Cash with ToneTag was the 12th of the Survival of the fittest webinar series.

Yuvaraj Patil, VP Product Delivery at ToneTag, presented ToneTag’s Sound-based technology and Crunchfish Group CEO Joachim Samuelsson moderated an open forum with Crunchfish Digital Cash Head of India, Vijay Raghunathan and Crunchfish Digital Cash CEO Patrik Lindeberg as panelists.

Register for the webinars and see all previous webinars at crunchfish.com/webinars/.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com

This information was provided by the contact person above for publication on 25 March 2022 at 12:00 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com

Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

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Crunchfish Digital Cash messages are the “secret sauce” behind the versatility of Crunchfish’s ground-breaking solution within digital payments. The 9^th Survival of the fittest webinar on March 4^th, 2022, explored how messaging meets payments. It was also announced that Crunchfish Digital Cash is sufficient to deliver CBDC. CBDC should be a public pull of Digital Cash rather than a push of CBDC from the central bank. Crunchfish’s patent portfolio within Digital Cash was also discussed briefly. 

The webinar on Crunchfish Digital Cash messages was the 9th of the Survival of the fittest webinar series. After a presentation by Crunchfish CEO Joachim Samuelsson, Johan Wester moderated a Q&A session and an open forum with Crunchfish founder and CTO Paul Cronholm and Gagan Kochar, Senior Business Developer India at Crunchfish Digital Cash as panelists.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

Erik Berggren, IR Manager

+46 726 01 16 73

erik.berggren@crunchfish.com

This information was provided by the contact person above for publication on 4 March 2022 at 12:00 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com

Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

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Crunchfish has applied for a patent for a logical lock that protects against fraudulent use by cloning of Trusted Applications, which significantly enhances the security of any Trusted Applications running in hardware based as well as software based secure execution environments. For instance, double spending may occur if a clone of the Digital Cash offline Trusted Application is generated and continues to operate offline. This patent pending innovation prevents such double spending with Digital Cash offline.

Cloning is a technique wherein an additional identical instance of the entire host device or the trusted application running therein, depending on the security arrangement, is created. The clone may act as the original trusted application or host device. A malicious user attempting to hack the host device, or with the intent of being able to fully access all of the functionality of the host device.

Cloning a host device may give rise to critical security vulnerabilities relating to fraudulent use by cloning of a trusted application, for instance multi-usage of any finite resource, exploiting license timers for subscriptions or accounts or exploiting expiry timers, to name a few.

Crunchfish has applied for a Swedish patent for a method to address fraudulent use by cloning of a Trusted Applications executable in a secure execution environment of a host device by starting the Trusted Application in a locked mode. The trusted application performs a handshake procedure with a computerized backend resource to verify that a current execution state of the trusted application has not already been occupied by another instance of the trusted application. Only upon successful verification by the handshake procedure, the trusted application switches to an unlocked mode in which access to the protected functionality and data is permitted. 

“This is an extremely important innovation that carries the signature of Crunchfish founder and CTO Paul Cronholm all over. It is a surprisingly simple solution with wide applicability to the security of Trusted Applications and may very well be implemented in iOS and Android. For Crunchfish it provides an important additional level of security protecting against fraudulent use of jailbroken or rooted devices”, says Joachim Samuelsson, CEO of Crunchfish.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com

Erik Berggren, IR Manager

+46 726 01 16 73

erik.berggren@crunchfish.com

This information is information that Crunchfish AB is obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person above for publication on 4 March 2022 at 00:01 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com

Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

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Crunchfish Digital Cash AB (“Crunchfish”) has received a patent grant from the US Patent and Trademark Office (USPTO) regarding sharing content between devices over internet or cellular communications having first established proximity using short-range communications. This patent applies to any content such images and sounds, but also financial transaction data such as Digital Cash messages, financial tokens and cryptocurrencies. The patent application number is US 11 201 912 and is valid until February 2036. This application has previously been granted in Sweden.

The scope of the patent is sharing content between devices that are detected to be in proximity by short-range communication, such as NFC, BLE, ultrasound or QR-scanning and then sharing data over internet or cellular communications from the device to other devices. 

“This is an important grant for Crunchfish because the scope is very wide, its priority date dating back in 2015, and the patent protects sharing content such as images and sounds, but also financial transaction data such as Digital Cash messages, financial tokens and cryptocurrencies”, says Joachim Samuelsson, Crunchfish group CEO and one of the inventors behind this patent.  

Digital Cash messages is the topic on Friday March 4th, 2022 at 08.00 CET / 12.30 IST in the Survival of the fittest webinar series. It will also provide an overview of Crunchfish patents and patents pending within Digital Cash.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

Erik Berggren, IR Manager

+46 726 01 16 73

erik.berggren@crunchfish.com

This information is information that Crunchfish AB is obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person above for publication on 2 March 2022 at 08:30 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com

Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

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The webinar on Crunchfish Digital Cash with V-Key was the 7th of the Survival of the fittest webinar series. After a presentation by V-Key’s COO Raymond Lee, Johan Wester moderated a Q&A session and an open forum with Patrik Lindeberg, CEO of Crunchfish Digital Cash and Joachim Samuelsson, Group CEO of Crunchfish as panelists.

V-Key is Singapore based company that has developed the world’s first virtual secure element, V-OS. It is a secure sandbox that is embedded within a native iOS or Android mobile app, and creates a safe operating environment where data is stored, and cryptographic processes can be executed in isolation from the rest of the mobile app. Crunchfish Digital Cash maintains a balance as well as a log of all transactions. As this is sensitive data it must be maintained with banking grade security. This is accomplished offline by V-OS that handles cryptographic keys, the Digital Cash balance and transaction logs.

Crunchfish and V-Key became partners to develop a joint offering in July 2020. A year later Crunchfish Digital Cash offline Trusted Application was ready for shipment within V-OS Virtual Secure Element. Crunchfish and V-Key announced in Q4 2021 a co-operation to market Digital Cash in Southeast Asia, the world’s fastest growing region for e-Wallets.

Crunchfish CEO Joachim Samuelsson made an interview with V-Key CEO Joseph Gan in the Cash goes digital – a payment pandemic series that provides more detail of V-Key’s technology and Crunchfish Digital Cash. 

Register for the Survival of the fittest webinars and see all previous episodes at crunchfish.com/webinars/.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

Erik Berggren, IR Manager

+46 726 01 16 73

erik.berggren@crunchfish.com

This information was provided by the contact person above for publication on 18 February 2022 at 12:00 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com

Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

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