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. It also put a limit to the issued shares on the blockchain where the public can see this amount here: http://omnichest.info/lookupsp.aspx?sp=209 and owners can move these shares around from wallet to wallet and trade them on foreign cryptocurrency exchanges. Shareholders in the past have been invited to move their shares into this more modern system of ownership and the offer is an ongoing open policy.
The SEC suspension is unfortunate for those shareholders that need immediate liquidity and those day traders that held overnight. While we are disappointed in the SEC’s decision to suspend trading, we understand the need to diminish the extraordinary demand for shares that have increased more than 24,000 percent in the 12 months -according to the Dow news release.
The company has retained competent SEC counsel to work with the SEC to learn of any concerns beyond the over exuberant market for our shares such as our disclosures of assets and capital structure. We believe that there is likely a misunderstanding or a simple clarification necessary and that it would have been better for the SEC to ask us for this information before taking such drastic action. In fact, the SEC was so hurried in stopping trading that they inadvertently left in the symbol of another company (CIAU) as if our symbol which has nothing to do with BITCF. In the unrelated case of CIAU we applaud the SEC for that suspension and that of two other so-called cryptocurrency companies that were either mimicking BITCF for publicity or were obvious scams. There are many more quickly emerging and we hope the SEC will move against those more rapidly.
In regard to repairing the damage done by the suspension, the company was already working to move to a reporting status and is actively working to achieve audited financials with the intention to utilize a PCAOB auditor. The company has also been approached to merge with a fully reporting company and negotiations are underway.
The suspensions in the crypto space are reminiscent of the Cannabis industry, and while many of those suspensions were needed back in 2014, some of the honest ones were able get back into a good market standing such as $CANN. If a merger is not successful, the company will take all necessary actions to not only move back to the Current Pink Status but move to a higher, more transparent US trading market.
There are numerous laws firms claiming to start investigations into BITCF due to the temporary suspension of trading in our shares. Their “investigations” are standard when a company of BITCF’s magnitude is suspended but they will find nothing worthy of a class action lawsuit. These types of press releases from law firms of their ilk mostly result in no action taken and are often intended for publicity and finding new clients.
For more details of our past progress, kindly refer to the historical press releases found at http://www.otcmarkets.com/stock/bitcf/news
The company continues to reiterate and asks all potential shareholders and speculators to carefully consider the high risks involved in speculating in our common stock both in the OTC markets as well as in the cryptocurrency markets and to take note of the fact that all of the extensive inventory of our various altcoins, while showing significant potential, is highly speculative, and these cryptocurrencies are extremely illiquid and only trade sporadically on small, foreign cryptocurrency exchanges.
Sincerely,
Simon Rubin, Chairman of the Board of Directors
About First Bitcoin Capital Corp
First Bitcoin Capital Corp is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as well as crypto exchanges under the unified symbol BITCF) we want to provide our shareholders with diversified exposure to digital crypto currencies and blockchain technologies. At this time the Company owns and operates more than the following digital assets under development:
www.CoinQX.com cryptocurrency exchange, registered with FinCEN.
https://www.omniwallet.org/assets/details/309 Latest Active ICO for Loyalty (FLY)
www.altcoinmarketcap.com market capitalization for all cryptocurrencies with up and down voting by altcoin communities.
www.Alphabitcoinfund.com world's first crypto ETF.
www.strain.ID cannabis strains genetic information depository on decentralized Blockchain.
www.iCoiNEWS.com real time cryptocurrency and Bitcoin news site.
www.BITminer.cc providing mining pool management services.
www.2016coin.org online daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins.
www.bitcannpay.com Open Loop merchant services for dispensaries.
List of most Omni protocol coins issued on the Bitcoin Blockchain and owned by the Company: http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS
Second Omni wallet owned by CoinQX reflecting our airline mileage tokens issued: http://omnichest.info/lookupadd.aspx?address=1VuF26AgLyQ4tBoGzYTWRqtDG9zCB7QXe
Third (managed) Omni wallet including assets owned and/or managed by COINQX: http://omnichest.info/lookupadd.aspx?address=1M18oycUdsXv4pKyLLiASREcRGzPu22MxK
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release .Such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
SOURCE: First Bitcoin Capital Corp.
Contact us via: info@bitcoincapitalcorp.com or visit http://www.bitcoincapitalcorp.com