Riot Blockchain Inc. (NASDAQ:BIOP)

Riot Blockchain Inc. (NASDAQ:BIOP) Quits Diagnostic Equipment Business

Riot Blockchain Inc. (NASDAQ:BIOP)

Shares of Riot Blockchain Inc. (NASDAQ:BIOP) gained 18.1% after the maker of diagnostic machinery announced it was rebranding itself to focus on cryptocurrency and blockchain businesses. The company has since announced a strategic investment in Coinsquare Ltd, a leading digital currency exchange company.

Riot Blockchain Inc. (NASDAQ:BIOP)

Riot Blockchain Bitcoin Push

The rebranding push has resulted in the stock more than doubling in value since the start of the month. BIOP is up by more than 100% for the year as investors apparently remain confident about its prospects in the cryptocurrency business.

However, it is not the first company to be rewarded heavily by investors after expanding into the cryptocurrency space. Overstock.com and MGT Capital Investments also experienced astronomical increases in value after expanding their operations into the bitcoin space.

Riot Blockchain Inc. (NASDAQ:BIOP) has enjoyed a fair share amount of drama. Last year Venaxis acquired Bioptix Diagnostics and then renamed it Bioptix Inc. The acquisition quickly turned nasty after major shareholders accused the company’s executives of an “inside” job to benefit themselves.

In January, the company also found itself in trouble after three board members tendered their resignation. The company afterward announced job cuts as it sought to stay afloat by pursuing strategic alternatives.

Fast forward, Riot Blockchain is hoping to reinvent itself by investing in blockchain technologies and companies.

“With new applications being developed for blockchain every day, this is a rapidly growing and evolving market. We are excited to have partnered with and led an investment in Coinsquare, a company we believe is well positioned to capitalize on the opportunity in this sector,” said CEO Michael Beeghley.

Riot Blockchain Acquisition Play

Riot Blockchain Inc. (NASDAQ:BIOP) has paid a few million dollars for a 12% stake in Coinsquare. The company has also acquired warrants which it can use to increase its stake to 20%.

The Chief Executive Officer has also announced plans to buy companies focused on bitcoin mining, blockchain, and associated software. The deals are to be financed by a combination of cash and stock. In order to raise cash, the company is selling patents and intellectual property to a private company. The company expects as much as $2.5 million from the transactions.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

BTCS Inc (OTCMKTS:BTCS)

BTCS Inc (OTCMKTS:BTCS) Gets Market Disapproval for Merger Plans

BTCS Inc (OTCMKTS:BTCS)

Shares of BTCS Inc (OTCMKTS:BTCS) tumbled 8.13% after the company announced plans to merge with Australian blockchain company, Blockchain Global Limited. The two companies have signed a non-binding Letter of Intent that paves way for the protracted merger, subject to a number of conditions.

Investors Reaction

The merger push appears to have rattled investors as BTCS Inc (OTCMKTS:BTCS) tumbled from this year’s highs of $0.42 a share to current to $0.23 a share. The stock faces immediate support at the $0.21 level below which it could tumble to lows of $0.11, depending on the strength of the sell-off wave. Monday’s sell-off is threatening to reverse a bull run that begun last month helping push the stock from lows of $0.05 a share.

BTCS Inc (OTCMKTS:BTCS) is a blockchain company that operates a beta e-commerce marketplace that accepts digital currencies. The site offers secure ways of storing Bitcoin currencies in addition to marketing 250,000 products. In a bid to pursue growth around blockchain technology, the company has developed a secure digital currency solution dubbed BTCS wallet.

BTCS-Blockchain Global Limited Merger

Blockchain Global Limited which BTCS Inc. (OTCMKTS:BTCS) plans to merge after generating revenues of $4.4 million last year, representing a 300% year over year increase. The company has approximately $3.5 million in assets made up of cash and Bitcoin. It operates under four distinct business lines as an institutional exchange platform, transaction verification services, a blockchain startup accelerator, and a blockchain technology consultancy.

“In addition to our work with innovative companies through the Melbourne Blockchain Center, we’ve also positioned ourselves to be a leading consultant in the space, servicing companies that recognize the importance of incorporating blockchain technology into their organizational strategies,” said Sam Lee BCG CEO.

Merger Terms

The Letter of intent signed is subject to the approval of BCG’S shareholders in addition to BTCS Inc. (OTCMKTS:BTCS)’s board of directors approving the transaction. Under the terms of the agreement, BCG shareholders are to receive a combination of common stock as well as convertible preferred stock and warrants equaling 75% of the combined company.

The Letter of Intent, if approved, will also result in current executive officers receiving 12% of the fully diluted equity in the form of common stock. Insiders of the combined company will also have to agree to a one year lock up on any equity issued in connection with the merger transaction.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $BTCS and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

BTCS Inc (OTCMKTS:BTCS)

BTCS Inc (OTCMKTS:BTCS) Rallies 100.5% Amidst Working Capital Concerns

BTCS Inc (OTCMKTS:BTCS)

Shares of BTCS Inc (OTCMKTS:BTCS) more than doubled in value after rallying by 105.37% as Bitcoin prices continue to hit record highs. The rally comes days after the company announced the appointment of Jonathan R. Read, to the board of directors, as part of an effort that seeks to strengthen the push to create a vertically integrated operation in the block chain space.

BTCS Stock Chart:

BTCS Inc (OTCMKTS:BTCS)
One month BTCS stock price chart

Bitcoin Rally

The BTCS Inc (OTCMKTS:BTCS) stock rally continues to flex its muscles around the cryptocurrency hype. A push by the management to diversify the company’s operations, spanning process transaction and a shift towards initial coin offering, has helped strengthen investor confidence on the stock.

Pursuing opportunities on initial coin offerings is a bold move that could see the company enjoy a first mover advantage as Bitcoin becomes mainstream. Getting a hold of the market which is believed to be worth a half a billion dollars could help BTCS Inc (OTCMKTS:BTCS) enjoy impressive growth in line with the growing demand for crypto currency.

BTCS Capital Challenges

Focusing the business on blockchain technologies has, however, come with its fair share of challenges. A lack of sufficient capital to pursue opportunities with speed poses the biggest challenge as the company tries to realize full potential from the disruptive opportunity.

BTCS Inc (OTCMKTS:BTCS) need significant additional capital to sustain its short term operations and make investments needed execute the long term business plan. Existing liquidity is not sufficient to fund operations and anticipated capital expenditures.

Over the past year, BTCS Inc (OTCMKTS:BTCS) has tried to restructure its liabilities as it seeks to improve its financial position. To date, the company has exchanged approximately $3.9 million of convertible notes and raised $1 million as it sought to raise funds to pay liabilities and raise working capital.

“We have taken these steps because we believe the rise of digital tokens as a new asset class has created a tremendous opportunity for us to leverage our experience in the sector, “BTCS in a statement.

Subject to completion of additional financing BTCS Inc (OTCMKTS:BTCS) plans to create a portfolio of digital assets through initial coins offerings, strategic market purchases. The company is also planning to carry out a number of acquisition across the blockchain space.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $BTCS and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

FIRST BITCOIN CAP COM NPV(OTCMKTS:BITCF)

FIRST BITCOIN CAP COM NPV(OTCMKTS:BITCF) Stock Exploding

FIRST BITCOIN CAP COM NPV(OTCMKTS:BITCF)

FIRST BITCOIN CAP COM NPV(OTCMKTS:BITCF) stock is rocketing. BITCF stock is up over 50% by 1PM EST on heavy volume. First Bitcoin closed on Friday at $1.49. The stock gapped up to open this morning at $1.87 and has hit an inter-day high of $2.40. Over eight million shares of BITCF have traded hands when the listed 30-day average volume figure is just 1.1 million.

FIRST BITCOIN CAP COM NPV(OTCMKTS:BITCF)
One month price chart for BITCF

Today Bitcoin went over the $4,000 mark and Ethereum went over $307. These events likely the reason First Bitcoin’s BITCF stock is rocketing. An analyst from Standpoint Research, Ronnie Moas, raised his bitcoin price target to $7,500 from the current $5,000. He also announced that he expects the total value of the crypto-currency market to total Two Trillion dollars. Bitcoin has more than quadrupled YTD while Ethereum has gained over 3,000%. Not surprisingly, there is an abundance of rumors that institutional investors will soon be entering the markets in a major fashion. It should be noted that Bitcoin represents about 50% of the total value of the crypto-currency market.

FIRST BITCOIN CAP COM NPV(OTCMKTS:BITCF) claims to be the first vertically integrated, publicly traded Bitcoin company. First Bitcoin will pursue it business goals that include the acquisition of Bitcoin start-ups, fund raising, and investing in crypto-currency software and hardware. The company plans to be a player in the following industry sectors:

  • Digital currency mining;
  • Developing digital currency exchanges to provide liquidity to the crypto-currency market;
  • Develop goods and services that will utilize a crypto-currency payment application; and
  • Develop technologies to enhance and develop the digital currency market.

Investors should complete their due diligence before investing in crypto-currencies. There is no regulation as with federally sanctioned stock exchanges. In 2014, trhe world’s largest Bitcoin exchange, Mt.Gox, was hacked and Bitcoin values plummeted over 50% as the hacked exchange had over $500 million worth of Bitcoins stolen from its servers.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $BITCF and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Envoy Group Corp $ENVV

Investors Run from Envoy Group Corp (OTCMKTS:ENVV)

Envoy Group Corp (OTCMKTS:ENVV)

Shares of Envoy Group Corp (OTCMKTS:ENVV) are down over 60% after the OTC markets designated trading in the shares as “Caveat Emptor” – buyer beware. Volume for ENVV shares is larger than normal Over 4 million shares traded hands by lunch in a stock that has an average daily volume of barely more than 600,000.

The “Caveat Emptor” designation is typically assigned to a stock when there may be reason to exercise additional care and perform thorough due diligence before making an investment decision in that security. A review of Envoy Group Corp (OTCMKTS:ENVV) publicly available information reveals that care may indeed be warranted.

According to the OTC Markets website, Envoy Group Corp (OTCMKTS:ENVV) has over 92 million shares outstanding with a market cap of over $77 million. The float on the stock (the number of shares actually available for trading) was 23.7 million shares. The company last filed a form 10-Q with the U.S. Securities and Exchange Commission on July 11, 2017 for the period ending July 31, 2016. Interestingly, the company self-reported its industry sector as “Nursing and Personal Care Facilities”. Even more interesting is that a quick glance at the balance sheet reveals the company reporting assets, and revenues, of $0.00 – zero.

The website that visitors are directed to from the OTC Markets Company Profile page is that of BitReturn. BitReturn is presented to the public as a subsidiary of Envoy Group Corp (OTCMKTS:ENVV) dealing in bitcoin. No mention of nursing or healthcare is found on any website attributed to Envoy Group Corp.

It appears that Envoy Group Corp (OTCMKTS:ENVV) may have been capitalizing on the bitcoin frenzy as investors tried to search out low-cost stocks in an effort to leverage the growth of the burgeoning industry.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $ENVV and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Marc has a degree in economics and a MSc. in Finance. Marc worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.