I am very pleased to inform you that we have reached an important milestone in rebuilding GLMB after filing a Notice to “go dark” on October 9, 2013 with the US Securities Exchange. During Q2, 2017, we achieved our goal in transforming GLMB to become the provider of reward-based live video embedded apps and services, conduct video analytics and the operation of a cryptocurrency exchange.
Our transformation was catalyzed by GLMB's partnership with GILTS Ltd that successfully developed "GiltsEdge", a Cryptocurrency-Social Media Analytics Platform. GiltsEdge has enabled the partnership to issue eGILTS Token, a cryptocurrency with true value backed by a combination of gold (physical asset) and digital assets (patents, digital platform, data analytics and knowledge). eGILTS Token is a safe haven asset that is completely independent of financial institutions at all times.
eGILTS Token will be the bridge between cryptocurrencies e.g. Bitcoin, and fiat currencies e.g. US Dollar in the real-world commerce. The true value of eGILTS Token has differentiated it from other cryptocurrencies that are based on the notion of “trust” through the use Blockchain technology to verify and validate transactions. The differentiation has elevated eGILTS Token into a safe and viable payment instrument for use in the nascent crypto-economy.
“Going dark” was a difficult decision. It was untenable for GLMB to continue as a public company for reasons beyond the control of GLMB’s Board of Directors. The Company was generating good revenues and profits for four consecutive years from 2009 to 2013, and GLMB was looking towards maintaining the trend to qualify for listing on a senior Exchange until it was jolted by a notice served by the Public Company Accounting Oversight Board (“PCAOB”).
GLMB was informed by PCAOB that the Company’s independent accountant, Lake Associates, LLC [managing member Jay Charles Lake] was sanctioned and suspended from practicing for two years by PCAOB on August 13, 2013 for violating PCAOB’s rules (PCAOB File No. 105-2013-006). The suspension of Lake Associates was very disconcerting for GLMB as the Company had just recovered from the transgressions of Lake Associates’ predecessor, The Davis Accounting Group, PC (“DAG”) [managing member Edwin R Davis]. The transgressions lead to the revocation of DAG’s practicing license by PCAOB on March 29, 2011 (PCAOB File No. 105-2009-004).
Transformation of GLMB
The transformation was realized after the GLMB-GILTS partnership was successful in developing “GiltsEdge”, a Cryptocurrency-Social Media Analytics Platform based on patents #8,005,057 and #8,089,943 granted by the United States Patent and Trademark Office. Patent #8,005,057 is owned by GLMB while the latter, patent #8,089,943 is owned by GLMB’s partner GILTS Ltd.
GiltsEdge, a rewards-based platform was developed by integrating the operations of GLMB’s rewards-based Private Blockchain WaveStream Social Media Analytics Platform (“WaveStream”) with GILTS’ Public Blockchain GiltsEdge Cryptocurrency Exchange (“GiltsEdge Exchange”).
GiltsEdge will realize GLMB’s mission to:
- Be the bridge between the crypto and fiat currencies in the real-world commerce;
Build a sharing crypto-economy using GiltsEdge issued eGILTS Reward Token, the world’s first reward-based cryptocurrency backed by Gold and Digital Assets;
Build a network of social media communities around the world;
Be THE TRUSTED SOURCE of live video contents streamed to and from mobile and desktop devices;
Establish GILTS Compendium as The TRUSTED SOURCE and Living Time Capsule for Real-time Multimedia and Data Analytics to assist GiltsEdge users to make better personal, business or political decisions.
The symbiotic relationship between WaveStream and GiltsEdge Exchange will have a knock-on effect in perpetuating and sustaining the growth and profitability of GLMB. Incentivized users of WaveStream will insure a continuous flow of live video news and multimedia contents to GiltsEdge’s portal (www.gilts.io). The live news and multimedia contents bundled with our promotional programs will encourage visitors to use WaveStream’s apps and services; and to buy, sell or mine eGILTS Tokens at GiltsEdge Exchange.
Higher usage of our apps and services; and better quality news and multimedia contents will enhance the accuracy and value of WaveStream’s data analytics. It will persuade more users to refer to GILTS Compendium for an insight to the data analytics of their selected subjects to help them make better decisions. More traffic to GILTS Compendium will lead to higher revenue and income for GLMB that will in turn influence the market on the price of GLMB’s common shares and/or eGILTS Tokens.