Business
OLB Group Obtains Valuation from Independent Valuation & Appraisal Firm
NEW YORK--(BUSINESS WIRE)-- The OLB Group, Inc. (NASDAQ: OLB) ("OLB", the "Company"), an emerging FinTech company leveraging proprietary omnicommerce and
About this update from The Olb Group, Inc.
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nThe OLB Group, Inc. (NASDAQ: OLB) (\"OLB\", the \"Company\"), an emerging FinTech company leveraging proprietary omnicommerce and blockchain technology to build customized payment solutions today announced that the company has received a $240 million valuation from Corporate Valuation Advisors, Inc., an independent valuation and appraisal firm that provides valuation advisory services and fairness opinions to public and private companies. OLB engaged the firm to determine the company’s fair market value and provide a comparison to similar companies in the industries where OLB does business. OLB received the valuation as of December 31, 2021, and since then has closed its acquisition of Crowd Ignition and expanded its cryptocurrency mining operation by securing 10,000 square feet of leased space in Bradford, Pennsylvania.\n\nThe valuation noted that the company increased its value in the fourth quarter of 2021 as the result of the addition of new merchants and the formation of several new business ventures included in the year-end projections.\n\nYou can find a full copy of the report at\n\nhttps://olb.com/valuation-report/\n\nFuture OLB Press Releases and Updates\n\nInterested investors or shareholders can be notified of future Press Releases and Industry Updates by e-mailing [email protected].\n\nSafe Harbor Statement\n\nAll statements from The OLB Group, Inc. in this news release that are not based on historical fact are \"forward-looking statements\" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements concerning the impact of COVID-19 on our operations and financial condition, our ability to implement our proprietary merchant boarding and CRM system and to roll out our Omni Commerce and SecurePay applications, including payment methods, to our current merchants and the integration of our secure payment gateway with our crowdfunding platform, our ability to successfully launch a cryptocurrency mining operation and our ability to earn revenue from the new operations. While the Company’s management has based any forward-looking statements contained he...