Business
First Bitcoin Capital Issues Letter to Shareholders; Comments on Temporary SEC Suspension
First Bitcoin Capital Issues Letter to Shareholders; Comments on Temporary SEC Suspension.
About this update from First Bitcoin Capital Corp.
[{"type":"text","content":"August 24, 2017 Vancouver BC, First Bitcoin Capital Corp (OTC:BITCF) writes to inform its shareholders of internal growth as well as provide outlook regarding the SEC’s suspension of its common shares and to look forward to when those shares trade again in the US OTC Markets on September 8 2017.Dear Shareholders,The good news is that while our shares have been suspended for 10 business days, our internal growth will continue unabated. In fact, the phenomenal success in the growth of our market cap (gaining 6000% in 2017 according to a Dow news release) has had no impact on our internal growth. This is due to the fact that the company has not accessed the capital markets from the day we began developing cryptocurrencies until this day. BITCF is extremely rare in this regard for an OTC company as most are dilution machines designed either to grow their company or unjustly enrich management and promoters. Our management has never sold one share of our stock in spite of the meteoric rise in price per share.The reason we have been able to succeed without external funding is due to the fact that we early learned how to develop crypto assets on a shoe string, so to speak. This also resulted in our being able to pay off our debt which was owed to management with one of our created crypto currencies. We have been very busy generating more than 100 unique cryptocurrencies ranging from disrupting the air-miles-loyalty industry to providing solutions to the cannabis industry.One of the beautiful aspect to our business model is the transparency that blockchain provides. For example below in the “About” us section you will find links to our three main OMNI wallets. We also have a small amount of Bitcoin (COIN:BTC) we have earned in cryptocurrency exchanges. BITCF also owns cryptocurrencies it acquired in exchange for its former mineral asset, etc. that are not found in these wallets. We also developed our own blockchain initially allowing mining of our common shares. We later decided this was too dilutive and moved ownership of the mined shares to a managed situation on the blockchain utilizing the OMNI Layer protocols. By moving to the new blockchain for our common shares, this freed up a coin known as First Bitcoin trading under the symbol BIT to become an asset of the company.&n...