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OLB Group, Inc. (NASDAQ:OLB)

The OLB Group, Inc. (NASDAQ:OLB) is a diversified Fintech e-Commerce provider of merchant services and bitcoin crypto mining company. The Company's e-commerce platform delivers cloud-based merchant services for web-based and brick-and-mortar companies for a seamless total digital commerce solution that includes site creation, web hosting, transaction processing and order fulfillment, customer service, outbound marketing, sales reporting, capital raising and a payment facilitator with crypto payment options.  

DMint, a wholly owned subsidiary of OLB Group, is launching its Bitcoin mining operations in sustainable data centers (powered by natural gas) with an initial deployment of 1,000 ASIC-based S19j Pro 96T mining computers expected by end of 2021 with plans to increase mining capacity to 24,000 mining machines over the next 24 months.

OLB Group Presentation at HC Wainwright Conference (September 2021)
Journey (ct.events)

Investor information is available at www.olb.com/investors-data

www.olb.com

 

OLB PowerPoint Presentation:

http://olb.com/investor-deck/

Investor Fact Sheet: Shares Outstanding: 7.1 Million
2020 Revenue  $9.7 Million


 

OLB Group Subsidiary DMint Orders First Batch of Miners for Cryptocurrency

ASIC-based mining computers S19j Pro 96T to come online at DMint net-zero carbon data centers in September; Operation anticipated to generate $1M per month in new 2021 revenue

NEW YORK, September 14, 2021–(BUSINESS WIRE)–The OLB Group, Inc. (NASDAQ: OLB), a provider of cloud-based omnicommerce and payment acceptance solutions for small- and mid-sized merchants, announced that DMint, Inc., a wholly-owned subsidiary of OLB (“DMint”), is deploying its first lot of some one-hundred cryptocurrency mining computers for operation at its newly acquired data centers. The Antminer S19j Pro is specifically configured to mine Bitcoin and is planned to be up and running by the end of September.

“Putting these new mining computers to work is the first step in building out our cryptocurrency mining operations that are expected to grow to serve some one thousand miners by the end of the year,” said Ronny Yakov, OLB Chief Executive Officer. “We recognize the high energy requirements and potential environmental impact of cryptocurrency mining, and DMint’s business plan includes our commitment to utilize green energy sources.”

DMint has secured the natural gas mineral rights necessary to power its current and foreseeable energy needs for mining operations. The company plans to build out capacity to achieve 500 petahash per second while operating 24,000 miners over the next 24 months.

OLB provides omnicommerce business and commerce services to merchants including leading-edge crypto commerce capabilities, eCommerce, back office and kitchen operations, and payment acceptance online, in store, and on mobile devices. Merchants utilizing OLB’s OmniSoft Business Management platform can transact with customers through digital wallets, cryptocurrency wallets, and traditional card-based payment. OLB expects to leverage the DMint mining operations to power expanded crypto commerce services as well as financing, lending, and fundraising designed for smaller businesses.

Merchants interested in implementing crypto commerce or omnicommerce services can set up an OmniSoft account at https://cardaccept.com/#contact

For more information about The OLB Group, please visit www.olb.com or www.olb.com/investors-data.

Future OLB Press Releases and Updates

Interested investors or shareholders can be notified of future Press Releases and Industry Updates by e-mailing investorrelations@OLB.com.

 

OLB Group Inc. Reports Third Quarter, 2021 Revenues of $2.82 Million

Transaction Volume for First Nine Months was $ 668 Million From 10.2 Million Transactions;

Launches Bitcoin Mining Subsidiary

November 12, 2021 

NEW YORK--(BUSINESS WIRE)--The OLB Group, Inc. ("OLB," “we,” “us,” “our,” or the "Company"), a diversified Fintech eCommerce merchant services provider and Bitcoin crypto mining enterprise, has announced financial results for first quarter ended September 30, 2021.

We are a FinTech company and a payment facilitator that, through our subsidiaries, focuses on a suite of products in the merchant services and payment facilitator verticals. These services include electronic payment processing, cloud-based multi-channel commerce platform solutions for small to medium sized businesses and crowd funding services. The Company is focused on providing these integrated business solutions to merchants throughout the United States through three wholly-owned subsidiaries, eVance, Inc., Omnisoft.io, Inc., and CrowdPay.us, Inc. In the Third Quarter we launched a new wholly owned subsidiary, DMint, which focuses on Bitcoin mining utilizing sustainable power generated from natural gas.

Financial Highlights

For the three months ended September 30, 2021, we had total revenue of $2,823,921 compared to $2,308,037 of revenue for the three months ended September 30, 2020, an increase of $515,884 or 22.3%. We earned $2,680,004 in transaction and processing fees, $32,787 in merchant equipment rental and sales and $111,130 in other revenue during the three months ended September 30, 2021, compared to $2,128,771 in transaction and processing fees, $22,018 in merchant equipment sales and $157,248 in other revenue during the three months ended September 30, 2020.

For the three months ended September 30, 2021, we had processing and servicing costs of $2,223,720 compared to $1,486,257 of processing and servicing costs for the three months ended September 30, 2020. Processing and servicing costs increased by $737,463 or 49.6%.

General and administrative expenses (“G&A”) for the three months ended September 30, 2021 was $904,314 compared to $706,430 for the three months ended September 30, 2020, an increase of $197,884 or 28%. In the current period we had increases of our legal expense of approximately $270,003 relating to business matters. This increase was offset by a decrease of $74,940 related to audit fees and a decrease of $156,843 related to stock-based compensation.

Our net loss for the three months ended September 30, 2021 was ($900,354) compared to ($657,358) for the three months ended September 30, 2020. We had an increase in our net loss of $242,996 for the reasons discussed above.

Adjusted EBITDA for the three months ended September 30, 2021 was ($551,412). This does not take in account onetime expenses in the amount of $467,974 that were incurred in the quarter.

Key Highlights for Third Quarter 2021

  • Launched DMint, a wholly owned subsidiary of the Company, to mine Bitcoin
    Purchased mineral rights to natural gas wells for Bitcoin mining
    Purchased first 600 ASIC bitcoin miners and 6 data centers
    Raised $6.1M in capital and recently closed on $25M equity raise
    Completing final stage on acquiring CBD merchant portfolio with 1500 merchants totaling $30M in monthly processing volume

To see a complete version of the Company’s Quarterly Report on Form 10-Q please click on the following link:

https://www.sec.gov/Archives/edgar/data/1314196/000121390021058466/0001213900-21-058466-index.htm

For more information about The OLB Group, please visit www.olb.com or www.olb.com/investors-data.

Future OLB Press Releases and Updates

Interested investors or shareholders can be notified of future Press Releases and Industry Updates by e-mailing investorrelations@OLB.com.

 

About The OLB Group, Inc.

The OLB Group, Inc. is a diversified Fintech eCommerce merchant services provider and Bitcoin crypto mining enterprise. The Company's eCommerce platform delivers cloud-based merchant services for a comprehensive digital commerce solution to over 9,500 merchants in all 50 states. DMint, a wholly owned subsidiary of OLB Group, is engaged in the mining of Bitcoin utilizing sustainable natural gas with an initial deployment of efficient 1,000 ASIC-based S19j Pro 96T mining computers projected by end of 2021. For more information about solutions, services, or to find a reseller, please visit www.olb.com. Investor information is available at www.olb.com/investors-data.

Safe Harbor Statement

All statements from The OLB Group, Inc. in this news release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements concerning the impact of COVID-19 on our operations and financial condition, our ability to implement our proprietary merchant boarding and CRM system and to roll out our Omni Commerce and SecurePay applications, including payment methods, to our current merchants and the integration of our secure payment gateway with our crowdfunding platform. While the Company’s management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include statements regarding the expected revenue and income for operations to be generated by The OLB Group, Inc. For other factors that may cause our actual results to differ from those that are expected, see the information under the caption “Risk Factors” in the Company’s most recent Form 10-K and 10-Q filings, and amendments thereto, as well as other public filings with the SEC since such date. The Company operates in a rapidly changing and competitive environment, and new risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. The Company disclaims any intention to, and undertakes no obligation to, update or revise any forward-looking statement.

Contacts

The OLB Group - Investor Relations
InvestorRelations@olb.com
(212) 278-0900 EXT: 333

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Post Subject
#1754
OLB Group Obtains $240 Million Valuation from Independent Prudent Capitalist 04/26/2022 04:51:56 PM
#1800
OLB OLB Group Inc mick 08/11/2022 03:56:21 PM
#1799
OLB Group to Conduct Earnings Conference Call on Prudent Capitalist 08/11/2022 02:36:13 PM
#1798
$1.62 (+4.52%). Solid day here and lots Prudent Capitalist 08/08/2022 04:01:56 PM
#1797
OLB to present at SIDOTI & CO. Virtual Prudent Capitalist 08/08/2022 11:40:00 AM
#1796
OLB OLB Group Inc mick 07/26/2022 12:20:09 PM
#1795
OLB forming a strong new base of support Prudent Capitalist 07/26/2022 11:51:44 AM
#1794
$OLB (+10%) is on fire today! Prudent Capitalist 07/25/2022 04:02:00 PM
#1793
+24% today and $2 will come quicker than Prudent Capitalist 07/20/2022 01:45:37 PM
#1792
OLB to present at SIDOTI & Company LLC Prudent Capitalist 07/18/2022 03:24:40 PM
#1791
OLB Group Authorizes Share Repurchase Program • Business mick 07/17/2022 08:15:41 PM
#1790
OLB OLB Group Inc mick 07/17/2022 08:15:22 PM
#1789
OLB OLB Group Inc mick 07/13/2022 07:42:08 PM
#1788
Bingo! Let's remember that the all time Prudent Capitalist 07/13/2022 03:45:25 PM
#1787
Loaded 20kshares. 2$ imo comes quick OmegaMoney29 07/13/2022 03:37:58 PM
#1786
And, the indication is that it will not Prudent Capitalist 07/13/2022 03:21:41 PM
#1785
The buyback will be on the open market glens0 07/13/2022 03:14:24 PM
#1784
+34% on 138 times normal volume today already. Prudent Capitalist 07/13/2022 11:22:36 AM
#1783
OLB Group Authorizes Share Repurchase Program Prudent Capitalist 07/13/2022 11:07:12 AM
#1782
OLB picked some up this morning glens0 07/13/2022 10:40:54 AM
#1781
Should be the second week of August based Prudent Capitalist 07/11/2022 10:24:47 AM
#1780
Thanks for all this information. Do you know DarthYoshi!! 07/11/2022 08:12:38 AM
#1779
Thank you VERY much for that enlightening response PURA VIDA 07/09/2022 08:15:58 AM
#1778
yes /\ OLB mick 07/08/2022 05:23:28 PM
#1777
Looks like I got in at a good DarthYoshi!! 07/08/2022 03:00:07 PM
#1776
I have found that the best way to Prudent Capitalist 07/08/2022 11:06:08 AM
#1775
Yes, but NADA PURA VIDA 07/05/2022 01:04:39 PM
#1774
That is frustrating. Any response from them for DarthYoshi!! 07/01/2022 11:05:04 AM
#1773
OLB is in this video DarthYoshi!! 06/30/2022 11:34:28 AM
#1772
I wrote the company a letter concerning the PURA VIDA 06/15/2022 12:19:37 PM
#1771
Ronnie Jackoff needs to get something. going. PURA VIDA 06/08/2022 08:22:05 AM
#1770
OLB Group Inc (OLB) mick 06/06/2022 12:04:48 AM
#1769
Maybe this will help OLB out as well PURA VIDA 05/25/2022 02:32:50 PM
#1768
Yes, I just can't understand it. I PURA VIDA 05/25/2022 10:33:51 AM
#1767
OLB is presenting at the HC Wainwright Global Prudent Capitalist 05/25/2022 10:31:31 AM
#1766
It's really quite disappointing to me. Today PURA VIDA 05/25/2022 10:27:52 AM
#1765
All Fair Points. Prudent Capitalist 05/25/2022 10:22:39 AM
#1764
So, what is wrong with this picture (I PURA VIDA 05/25/2022 08:16:36 AM
#1763
OLB Group to Present at H.C. Wainwright Global Prudent Capitalist 05/23/2022 11:38:55 AM
#1762
OLB OLB Group Inc mick 05/12/2022 10:31:19 PM
#1761
Huge increase in revenue for the quarter. Prudent Capitalist 05/12/2022 04:29:56 PM
#1760
OLB mentioned favorably in an article. Earnings Prudent Capitalist 05/11/2022 11:49:52 AM
#1759
OLB Group's Chairman and CEO Issues Open Letter Prudent Capitalist 05/05/2022 12:17:17 PM
#1758
OLB Group Obtains Valuation from Independent Valuation & mick 05/01/2022 04:22:24 PM
#1757
OLB Group Inc (OLB) mick 05/01/2022 04:22:06 PM
#1756
wow OLB mick 04/27/2022 02:55:20 PM
#1755
OLB seriously undervalued based on new independent valuation Prudent Capitalist 04/26/2022 12:54:37 PM
#1754
OLB Group Obtains $240 Million Valuation from Independent Prudent Capitalist 04/26/2022 12:51:56 PM
#1753
OLB share price should be $16.33 based on Prudent Capitalist 04/26/2022 12:47:09 PM
#1751
Thank you for that input. I have PURA VIDA 04/25/2022 01:39:02 PM
#1750
I am right there with you. $3.40 Prudent Capitalist 04/25/2022 12:51:31 PM
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