First Bitcoin Capital Corp (BITCF)

[srm4u]

The total deferred tax asset is $1,137,561 which is calculated by multiplying a 35% estimated tax rate by the cumulative net operating loss (NOL) of $3,250.173. The total valuation allowance is a comparable $1,137,561.

NOTE 4. OPERATIONAL LOANS -- RELATED PARTY
The Company has received non interest bearing demand operational loans from a major shareholder with
an accumulated total of $155,286 as of June 30, 2016.

NOTE 9. PRE MINED SHARES
The company allows its shares to be mined on its own blockchain and rewards miners with those shares
mined based on Proof of Work (POW) similar to Bitcoin and identical to Emercoin mining from whom we
obtained a license. We premined nearly all total mineable shares (20,697,000,000) based on authorized
capital and total mineable of 21,000,000,000 shares. Premined shares are held by the company in wallets
for future issuance and we treat same as our authorized capital, similar to treasury shares. Public miners
or owners of shares on the blockchain also earn shares through Proof of Stake (POS) and since the
company holds in its own wallets nearly all mineable shares, it earns most of this proof of stake.
During the second quarter of 2016 when mining was launched miners were rewarded a total of 1,000,000 shares
of the company through both POW and POS. The balance of mined shares came into the possession of
the company through both POS and POW. The mined shares by the public may trade on crypto currency
exchanges outside of the United States of America and may be used as a new crypto currency in commerce should such develop over time

http://www.otcmarkets.com/financialReportViewer?symbol=BITCF&id=158914