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I just started looking into this recently, I would not be totally shocked to find out this merger has gone tits up, I really don't think you'd let your filings go delinquent, if you were anywhere close to getting a deal done, as there is almost no way FINRA would approve it.
Instead, I'm wondering what the chances are of Bithumb going public through their JV US partner seriesOne instead...?? Would make a lot of sense, as they are experts on US securities regulation, and working on a security token exchange in the U.S. together....there are some things that could point in that direction IMO.
For some reason seriesOne mysteriously abandoned their IPO in late 2018, and instead, purchased a US shell company in May 2019, presumably to do a RM.
Bithumb has already publicly stated they were going to be shareholders in seriesOne when they went public. I'm just speculating, but what about a reverse triangular merger with those 3 entities...and Bithumb as the target company...??
Maybe wishful thinking...lol.
8K out. Lots of resignations...change is coming will it be good or bad?
We shall see
Why up up today?
Down, Down, Down
Almost at the 52 Wk. low again. Is there something I'm not seeing here?
Agree, I think we'll see some direction in the positive with new leadership. Got to be patient with this one.
Hopefully it happens this company has no direction right now
I understand a conference call to shareholders will be scheduled soon.
Anyone got any news here on this one lately
Lots of amendments hit today
The merger might not happen, but BXA is in a position that they'll want to invest in BCII and it's only matter of time that we'll see this happen. Most investors aren't patient....but this is a time to show it! The cryptos took a huge hit the past year and the ship is turning, hang in there. Blockchain is here to continue to New Horizons and I am in for the the long run and I encourage you to do the same.
Yes sir never called off till a official 8k is made max 4 days after material event is made
Wow, looks like the merger is still in the works!
That is big news officially resigned 8k out also mentions a payout and a additional contingent payout of buyout from bxa in shares
Wow Patrick is gone! That is huge.
I like the terminology used in the pr "interm Ceo"
Finally having someone that will update SEC Filings and having more people able to sell and buy shares. Not to mention the Crypto's have been on a nice rise lately.
You obviously knew this was coming before the rest of us. So what (in your opinion) are the good things coming, because the SP certainly didn't see it that way today?
NEW YORK, NY / ACCESSWIRE / June 17, 2019 / Blockchain Industries, Inc. (OTC PINK: BCII) ("Blockchain Industries" or the "Company"), technology company focused on providing advisory services in the blockchain and crypto currency sector, today is providing an update to shareholders on the Company's ongoing operations and its previously announced letter of intent (the "Letter of Intent") with Blockchain Exchange Alliance ("BXA").
Although the structure of a potential transaction with BXA has materially changed from the Letter of Intent, and is likely to continue to evolve, the Company maintains a strategic, ongoing relationship with BXA. The Company's management believes this relationship will ultimately create value for the Company's shareholders, however no guarantees can be made until a definitive transaction is consummated between the parties.
In addition to our existing business and pursuing a transaction with BXA, the Company is actively pursuing other strategic acquisitions in the blockchain sector. The Company will continue to keep shareholders apprised of any material events related to our existing business or acquisition activity.
The Company's former Chief Executive Officer, Patrick Moynihan, submitted his resignation to the Board of Directors effective June 17, 2019. Concurrent with his resignation, Mr. Moynihan has agreed to immediately return to the Company's treasury 6.5 million shares of common stock of BCII. Paul Kim has been appointed Chief Operating Officer and Interim Chief Executive Officer and is expected to continue to guide the Company through the anticipated strategic partnership with BXA and a potential asset acquisition.
"I am thankful to Patrick Moynihan for his service and wish him the best in his future endeavors," stated Paul Kim, Interim Chief Executive Officer and Chief Operating Officer of Blockchain Industries. "I want to reiterate to our entire shareholder base that our sole objective is to build the long-term value of the Company. We believe we are making progress on establishing or acquiring a business synergistic with our own that can participate in the anticipated growth of the blockchain sector."
Great questions...I don't know!
Will this be announced soon and does this have a direct relation to the merger?
Excellent Followup. Thank for your insight!
Nice post.... Your information lines up with what I have heard about the merger as well. I also have a sizable investment in BCII from a PPM I invested in about 1 1/2 yrs ago.
What I hear is part of the $200 million investment is going to be used to start acquiring BCII. The goal is to purchase approximately 10% of the company for cash by mid-late May and another 9% or so with BXA stock.
This will recapitalize BCII and allow them to get current with their reporting and set the stage for a greater investment by BXA over the next 6 months.
For right now BXA has to limit their portion of BCII to less than 20% for their initial purchase because of a rule limiting the acquisition of a US company by a foreign company of 20% or greater without an extensive international audit. Because both sides want to see a deal as soon as possible BXA is bypassing that rule by acquiring less than 20% now.
However, within the next six months, BXA plans on acquiring at least 51% of BCII along with uplisting the company to the OTXQX exchange After that the end of the year the goal is to uplist to the Nasdaq.
Currently, BCII is now fully reporting with the OTC and should be current with the SEC by June. With that accomplished and a new capital infusion by BXA we could see the company uplist to the OTCQX in short order.
Lastly, when Patrick recently resigned from the Board of Directors for BCII and he indicated that it could make room for possible BXA board members and that is the main reason why he did it.
As far as remaining on as CEO, last I heard he was still the CEO, but some powerful players/investors were/are getting impatient and have tried a few times to remove him. Maybe they have been successful and we will find out officially. I think that as long as the merger is going forward, even slowly, Patrick will remain CEO.
GLTA!
I was thinking September so I have been loading more at cheaper levels worst case scenario I own alot of shares that will eventually turn profit best scenario September comes and I make massive profit on what I collected
I'd rather not say where I heard about Patrick, but it's something that will be verified soon. I do have a substantial investment in BCII and want all of us investors here to have some kind of return. Most who've invested in BCII have been patient...I think our patience is going to have to continue. I believe the merger will still happen, but not as rapidly as projected by Patrick.
Restructuring for the merger perhaps? Where did you hear he was done as CEO? The 8k they released states he resigned from all the boards of the company but was staying as ceo. I assume this was only temporary in order to file all the back due quarterly reports easily and set up for the merger
I heard Patrick is done as CEO and the company is in a restructuring process.
Had an order in all day at 2.15 and it closed at 2.10 without filling. Go figure.
April 15, 2019 Article.
I found this through LinkedIn dated April 15, 2019. It would imply that we are still moving forward.
Bithumb’s Operator Secures $200 Million USD From Japanese Blockchain Fund
The Blockchain Exchange Alliance (BXA), which operates the high-profile crypto exchange Bithumb, has recently received an investment of $200 million USD from the Japanese ST Blockchain Fund. According to reports, the company will use these new funds to expand its services globally.
Bithumb’s parent affirmed that the fund shared a vision with it and that they believed in the importance of creating a global digital exchange that can effectively transfer value across international borders.
The investment has come at a great time. Bithumb is currently the largest crypto exchange in its country, South Korea. However, the company lost $180 million USD during 2018, mostly due to the conditions of the bear market, which affected exchanges less than other businesses, but still had quite a profound impact in them.
Despite the bad conditions of the year, the market was shocked to see such awful results, as Bithumb had a record profit in 2017: around $373 million USD.
Time For The Expansion
BXA recently had a reverse merger with a U. S.-based company. This has opened a juridical backdoor for the company, which is based in Singapore, to list itself in the U. S. market without having to follow the long road of creating its own Initial Public Offering (IPO).
Before receiving the funds for a full expansion, the company was already eyeing some alternative in order to expand the reach of its business. For instance, it has launched an over the counter (OTC) desk in February, which was aimed at institutional clients. The company had also opened a new office in London last year and a branch of its business in the United Arab Emirates.
Now, with the new funds, the company will be able to eye the U. S. market and to start a business there, which will certainly be a very important move for its global expansion.
https://bitcoinexchangeguide.com/bithumbs-operator-bxa-secures-200-million-usd-from-japans-st-blockchain-fund/
Thank you for your continued interest in Blockchain Industries. The opportunity set referenced in your last email is still possible, but there is no public information that can be shared at this time.
If and when there is, it will be distributed through the proper channels accordingly.
Thank you for your continued interest.
Best Regards,
Lisa
On Wed, Mar 13, 2019 at 2:59 PM wrote:
Any update for shareholders yet?
Sent from my U.S.Cellular© Smartphone
-------- Original message --------
From: Lisa Moynihan <lisa@blockchainind.com>
Date: 2/28/19 9:52 AM (GMT-06:00)
To:
Subject: BCII
Hello
Thank you for your email inquiring about the progress of Blockchain Industries, Inc.
We appreciate your interest and support.
We’d like to point out there was a corrected update press release that does not specify any dates released on January 23,2019. Please see the link here: https://finance.yahoo.com/news/blockchain-industries-accepts-binding-loi-141200542.html
As a public entity, we cannot disclose any non public material information.
Regarding the question pertaining to Blockchain Exchange Alliance's potential interests in Blockchain Industries, the company is under a strict NDA that we must by law respect and adhere to.
If and when there is public information to disclose, it will be reported through appropriate channels and be available to the public.
Thank you again for your interest.
Regards,
Lisa
Lisa Moynihan
Managing Director Communications, Conferences & Media
Blockchain Industries, Inc.
Lisa@blockchainind.com
On Sunday, February 24, 2019, wrote:
Has the merger been canceled?
Thank you
Sent from my U.S.Cellular© Smartphone
--
Lisa Moynihan
Managing Director of Communications/Conferences & Media
Blockchain Industries, Inc.
Lisa@BlockchainInd.com
c. 323.791.8391
?
--
Lisa Moynihan
Managing Director of Communications/Conferences & Media
Blockchain Industries, Inc.
Lisa@BlockchainInd.com
c. 323.791.8391
Actually great sign if you ask me CEO removed himself from the boards last month but stays as CEO essentially only in title. I know months back the emails did in fact work as I have email correspondence that states the deals never were canceled and that if a call off on the merger was made if would be released to all the public channels.
I agree, however I have a few concerns. BCII's email address and phone number on the website are no longer valid. Merger aside, how is the company doing business or are they even doing business? What do you know?
Merger of the century for the crypto world and for the otc a real deal unicorn with a multi billion dollar valuation right out the gate.
Great insight and DD. Looks like if this pans out it could be a major game changer. Thanx
They have bxa CEO stated in a interview they do in fact intend to RM but didn't flat out say it was this company said he would prefer a already listed shell on the Nasdaq or nyse stock market however he did already clear with his legal that a rm into this shell would be able to uplist. Since I have avidly checked any news regarding all of the companies involved and have yet to see any other mention of any other public company as a RM candidate I have been hedging my bets on this ticker still taking them public. I would guess the length of time that is passing with no mention is due to the strict NDA they have signed and a attempt to keep the ss as sound as possible for when merger does take place all the members of bxa are able to have shares allocated to them without destroying the ability to uplist.
Now if we could just get the merger confirmation. Wonder what the hold up is?
Here are a few of the most recent BXA announcements
[Update] BXA partners with SOMA and Coco, premier social media network platforms in Middle Eastern and North Africa (MENA) regions
BXA signed a Memorandum of Understanding between BXA and SON Foundation. SON Foundation is the crypto foundation wholly owned by Instanza Interactive Ltd who manages the two messenger applications, SOMA and Coco. To date, it is most widely used in several MENA countries where it is the de facto messaging application. It grew in popularity due to its strength in security and privacy, while supporting high quality voice calls and messaging.
BXA will collaborate with SOMA and Coco to integrate our ecosystem together to make cryptocurrencies a preferred way of digital and cross border payment.
Read more about it in the link below:
https://medium.com/bxaglobal/bxa-partners-with-soma-and-coco-premier-social-media-network-platforms-in-middle-eastern-and-b3b9b84d1104[Announcement] Official Exchange Listing
BXA is excited to announce that we have listed on two new leading exchanges - Bithumb Global and Cashierest.
Trading on these exchanges has already started and users can access these exchanges in the links below to trade BXA tokens:
Bithumb Global - https://global.bithumb.pro/spot/
Cashierest - https://www.cashierest.com/Stock/KrwStock [Update] 200m USD Investment Contract Signed with Japanese Fund
We are excited to announce that we have signed on a 200mil USD investment from ST Blockchain Fund, as a part of Series A equity financing round. ST Blockchain Fund is incorporated in Japan, which is backed by investors from European and North American corporations. The fund shared our vision of creating a global digital exchange platform that can efficiently transfer value across borders with lower costs, which was the key rationale behind this investment decision.
With the funds raised, we will focus on expanding globally and offering multiple fiat-to-crypto/crypto-to-crypto trading pairs.[Announcement] Update on BXA's acquisition of BTC Holdings
• The acquisition of Bithumb is a core strategy of BXA's vision to build a connected world where assets and value can be transacted across borders efficiently with minimal fees.
• The large community and deep liquidity of Bithumb, as one of the largest digital asset exchange in the world, will help to accelerate the growth of BXA's Exchange and Payment business.
• Given the importance of Bithumb to BXA, we have agreed to acquire with a maximum of 70% of BTC Holdings. The acquisition completion date for BTC Holdings has been postponed to September 2019 to allow for more time for negotiations.
• Recently, BK Global Consortium has successfully received investments from various prominent investors from the globe and funding is currently being in process of execution, which closed the necessary funding to complete the acquisition of BTC Holdings by the end of March 2019. Hence, BK Global Consortium is currently negotiating on allocation of shares as well as strategic partnerships among Consortium investors, and final closing of acquisition will be made soon in several months.
• We would like to thank our global partners and investors to create the most advanced cryptocurrency platform in the world. We are excited about the responses that BXA have received on the equity raise which will create a well-capitalized entity with the capacity to build the world's most connected digital asset platform
Thank you for sharing this. I am looking more into all this now.
Blockchain exchange alliance this company is the merger candidate and also the owners of bithumb one of the largest crypto exchanges in the world. Furthermore blockchain exchange alliance is planning these acquisitions to take over globally and become the largest and most liquid pool for all crypto they have made multiple partners in the crypto exchange world and launched bithumb global 5 days ish ago in beta.
I’ll be honest. I don’t know much about the company. Who is the merger with?
Quite indeed. It would be nice to get an update and a confirmation that the merger is a done deal.
Blockchain is the reason when that falls so did the price is my guess also they went to complete non reporting with a stop sign and recently made filings to bring back current. I think they held out on filings for this merger I think alot of investors also got tired of waiting hence the decline and bad press around bithumb last few months also the stall of merger from months ago got people uneasy
A general question.
I gotta say "The one year chart here looks nasty". The potential merger aside, what has been and is the reason for the Share Price being what it is? I mean even at $2 the existing business model is valued at 85.5M
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BCII Enterprises is a publicly traded private-equity-type holding company focused on organizing or incubating, acquiring, growing,
and at key points exiting highly scalable operating companies built to be sustainable and future-looking,
around a set of “themes” in a select set of high-growth and high-value market sectors.
While most of our target market sectors are high-tech and new-economy, we are also focused on fast-growth lifestyle niche sectors as well.
BCII Enterprises is a publicly traded holding company, active in the market through various operating subsidiaries.
We are focused on organizing or incubating, acquiring, growing,
and at key points exiting highly scalable operating companies built around a set of “themes” in a select set of high-growth and high-value market sectors.
While most of our target market sectors are high-tech and new-economy, we are also focused on fast-growth life-style niche sectors as well. Major “themes” and broad market sectors:
https://bciienterprises.com/companies/
[-chart]bciienterprises.com/wp-content/uploads/2019/10/dedicatedsolutionslogo.png[/chart]
BCII’s INCUBATOR provides management, technology, business and enterprise building knowhow, as well as capital and other
resources to non-majority-owned operating companies but that BCII executives can nevertheless control,
for the purpose of incubating and growing them so that they might become future BCII majority-owned operating companies.
Already, BCII INCUBATOR has a portfolio of such companies, including the Lifestyle/hospitality company, the Merakia Group and its QSR affiliate iSouvlaki (www.merakia.com).
Our Company’s executives, principals, board directors, and advisors have many tens of years of international business development,
company growth skillsets, and the requisite knowledge and experience for building sustainable enterprises in our target sectors —
with contacts and expertise in our operating geographic venues and markets.
Additionally, they have access and capital markets experience in both Wall St and other key world financial centers.
They have expertise and are well positioned to develop our projects and operating subsidiaries,
by providing organizational development services, financial and business-plan knowhow, business development and contacts and knowledge engaging for strategic alliances,
and help in sales and revenue ramp-up. In short, they have the wherewithal to prepare the foundation of our operating subsidiaries to quickly become fast-growing enterprises,
to anticipate and engineer key turning points and next-level milestones, and ready them for successful funding events, and M&A or IPO exits.
Recent Reverse Merger Annoucement:
Blockchain Industries Accepts Binding LOI with BTHMB Holdings
Blockchain Industries, Inc. ("Blockchain Industries") (OTC PINK: BCII) today announced it has signed a binding letter of intent (the "LOI") to accept Singapore company, BTHMB HOLDINGS Pte. Ltd., to be renamed as Blockchain Exchange Alliance (BXA), as the largest shareholder. The companies anticipate turning into a single entity, becoming a publicly traded cryptocurrency exchange company. BXA has agreed to place $1M USD into an escrow account as consideration for entering into the LOI which is subject to diligence review by both parties mutual agreement on certain terms including, but not limited to, valuation and the entrance into definitive transaction documents.
"We are thrilled to be part of this important initiative that is expected to bring liquidity, accessibility and expansion to the blockchain industry," said Patrick Moynihan, CEO of Blockchain Industries. "By working with BXA, we expect to bring more advanced technology and better compliance practices into the public marketplace via a consolidated focus."
BXA intends to use Blockchain Industries to market and expand their operations in North America.
"BXA is a global exchange alliance and the United States is a key factor to any global initiative," said Dr. Byung Gun Kim, CEO of BXA. "By unifying our businesses, we benefit from the focused expertise of Blockchain Industries. As a result, we have tremendous growth opportunities in this region, and we expect quality results from this in North America."
The intention of the LOI aims to solve problems with liquidity, accessibility and expansion that have challenged the fast-paced and swiftly growing digital asset market. This potential transaction would result in a unified, more secure global exchange platform with a broad capability to support emerging blockchain e-commerce, payments, and other digital finance functions.
Share Structure
Authorized Common - 400,000,000
Outstanding Common - 42,005,188 (Nov 2, 2018)
Float - 737,406 (Last known)
$BCII SECURITY DETAILS ABOUT LIKE WHEN STARTED HERE ?????
BCII SECURITY DETAILS Share Structure
Market Cap Market Cap,35,997,017
02/26/2021
Authorized Shares..400,000,000
Outstanding Shares..39,996,686
Restricted...............Not Available
Unrestricted..........Not Available
Held at DTC................6,678,377
Float...............................368,703
Par Value............................0.001
Crypto Exchange Valuations:
Coinbase ($8 billion)
Robinhood ($5.6 billion)
Ripple ($5 billion)
Kraken ($4 billion)
Block.One ($4 billion)
Circle ($2.9 billion)
Binance ($2 billion+)
BXA/Bithumb = $168 Million ($3.99 PPS x 42 million OS)
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02-07-2021
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