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and today - back to the shit-show.
I am fairly new to this company as a buddy recommended me looking into putting some money here. From what I see (correct me if I am wrong please) the last capital raise was done at the market or somewhere around $5.50 per share and then there were warrants that were part of the deal at $6.50 per share. QUESTION: Did shareholder's get angry about share count and decide to dump ? or..... did "short sellers" decide to come in and take over the price action after that news? Or possibly a combination of both ?
The stock currently sits at $1.59 per share and according to the 3 year weekly chart the average price had been running around $5.10 per share. The last 2 days of trading has seen a little more demand than the past 2 weeks. I have been watching the price action on ThinkorSwim with charts, level II, and active trader ladders. Only the past 2 days (in my opinion) has there been any real interest in buying in. Before that, shorts have been coming in and just doing whatever they want. (MM's manipulating retail).
So, I am hopeful that the bottoming is taking effect and the price holds above the low of 1.43 and bounces back up to AT LEAST the $3.40 area.
Seems like a pretty dead board here.... but I would like to hear other's thoughts if they are currently invested here - or - are looking to get in soon.
Have a great week.
Double Bottom, Now Bounce Baby - BOUNCE
The quarterly report is actually better than the market is reflecting. For some reason they did not release the earnings prior to the video conference call, and there were some unfortunate typos in the report that diminished the actual results. For example:
Under financial highlights it states: “For the three months ended December 31, 2021, we had total revenue of $8,826,862 compared to $2,226,404 of revenue for three months ended December 31, 2020, an increase of $607,169 or 27.3%.” However, the increase in quarterly revenue was actually $6,600,458 or 296%.
The reported loss was due to the cost of acquiring the new companies and additional revenue they brought along, as well as the cost of all of the new antminer machines and getting those facilities up and running. The huge increases in revenue should continue.
Earnings due out after the bell today. Conference call at 4:15 Eastern time. Fintech co. that processes payments for a number of industries including cannabis. Went into Crypto and is getting a whole bunch of antminer machines up and running. Its annual run rate of processed payment transactions hit $1.35 Billion earlier this year after a major acquisition. Details on recent developments in the posting history below.
All time low since inception of trading prior to the end of tax loss selling was $3.30. But dropped in early 2022 and recently hit an all time low of $1.43, but has rebounded to above $2. Look at the all time chart, as well as 3, 6 and 12 months charts and you will see the share price history. Trailing 52-week range is $1.43 - $12.80.
Another big spike up today on very heavy volume, i.e. traded more than its avg. daily volume in 1st hour of trading.
Big spike in volume on the open today took OLB up to $2.07, but has backed off now. Earnings due out the middle of next week.
OLB
OLB Group Inc
1.8756
0.1556 (9.05%)
Volume: 768,000
Day Range: 1.68 - 1.96
Bid: 1.87
Ask: 1.88
Last Trade Time: 3:33:11 PM EDT
Total Trades: 2,629
OLB +34.3% in last 3 days since printing a new all time low of $1.43 on Tuesday. something is most definitely brewing here.
OLB Group Inc (OLB)
1.61 ? 0.0 (0.00%)
Volume: 238,213 @03/11/22 6:43:54 PM EST
Bid Ask Day's Range
1.55 1.63 1.51 - 1.65
OLB Detailed Quote
OLB Group Inc (OLB)
1.711 ? 0.121 (7.61%)
Volume: 64,519 @03/09/22 9:45:52 AM EST
Bid Ask Day's Range
1.7 1.72 1.6421 - 1.711
OLB Detailed Quote
These numbers from the short report are flawed in that they overstate OLB's average daily volume, thus incorrectly skewing the number of days to cover the increasing short positions. Average daily volume is more in the 300,000 - 350,000 share range, and today was just 165,000 shares. So, the 391,000 in short position as of 3/1 would take more than 1 day to cover. IN any event short interest has significantly increased here of late.
OLB Group Inc (OLB)
1.61 ? -0.08 (-4.73%)
Volume: 165,015 @03/08/22 3:49:08 PM EST
Bid Ask Day's Range
1.6 1.62 1.55 - 1.66
OLB Detailed Quote
Short interest here is increasing, and with OLB due to report earnings later this month, could be that the shorts will get caught with their pants down. Although the days to cover isn't significant.
OLB Expanded CBD Merchant Portfolio Even in the Midst of the Pandemic
https://www.benzinga.com/markets/cannabis/22/03/26032098/this-company-expanded-its-cbd-merchant-portfolio-even-in-the-midst-of-the-pandemic
Positive mention of OLB in this article entitled Efficiency Is King In The Bitcoin Mining Industry just out this morning:
Armistice Capital, LLC now owns 9.99% of the outstanding shares of OLB, as confirmed in filing out early this am.
https://ih.advfn.com/stock-market/NASDAQ/olb-OLB/stock-news/87291499/statement-of-ownership-sc-13g
OLB Group Announces Sponsorship of Museum of American Finance Panel "NFTs: Welcome to the Metaverse"
9:30 am ET February 10, 2022 (BusinessWire)
The OLB Group, Inc. (NASDAQ: OLB), a diversified fintech e-commerce merchant services provider and Bitcoin mining enterprise, today announced its sponsorship of the Museum of American Finance's (MoAF) virtual panel, "NFTs: Welcome to the Metaverse," taking place on Tuesday, February 15, 2022.
The panel discussion will be moderated by Michael Maloney, Adjunct Professor at Fordham Law, and will include an introduction by Ronny Yakov, Chairman & CEO, OLB Group.
Panelists include: Michael Amar, Co-founder, Paris Blockchain Week Summit and Paris NFT Day Benjamin Cole, Loschert Chair in Entrepreneurship, Gabelli School of Business Devika Kornbacher, Partner, Vinson & Elkins LLP James C. Row, Founder and Managing Partner, Entoro Capital, LLC
The program will be held on a virtual platform from 5:00 - 6:15 pm (ET). The panel discussion will be followed by audience Q&A. It is free to attend, but advance registration is required. More information can be found at www.moaf.org/events/nft.
"The OLB Group is committed to supporting the education around NFTs and digital assets, and exploring innovative use cases by merchants and customers in ways beyond just payments and transactions. We are excited to help facilitate this discussion through our sponsorship of the Museum of American Finance's NFT-focused event," Yakov said. "We believe that for an e-commerce company to win in the era of digital assets, they must embrace change and provide a diversified suite of solutions. This is precisely what we are doing at OLB. Our future business model is firmly planted in the digital asset world."
In line with this vision, OLB is developing NFT e-ticketing solutions. OLB's NFT ticket product will be available to our existing sport team clients in the upcoming year. This will complement OLB's existing digital asset services, including its Bitcoin mining division, DMint, and its Bitcoin payments and transaction services. Additionally, OLB is exploring value-added solutions for its small-and medium-sized e-commerce clients to reduce transaction fees and provide alternative sources of financing.
For more information about the OLB Group, please visit www.OLB.com.
About The OLB Group: 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220210005018/en/
SOURCE: The OLB Group, Inc.
The OLB Group - Investor Relations
Rick Lutz
InvestorRelations@olb.com
(212) 278-0900 EXT: 333
Crypto Mining Stocks Rally as Bitcoin Surges Past $44,000
https://www.coindesk.com/business/2022/02/07/crypto-mining-stocks-rally-as-bitcoin-surges-past-44000/
P.S. I place far more stock in this article than I do in the trashy hit piece put out by Entrepreneur before the open today which knocked the momentum out of OLB's sails as it continued to recover nicely following the news last week and the drop back in share price to fill the gap that was created by the spike up earlier last week. But, OLB is once again recovering and headed back upward this afternoon.
OLB Group Inc (OLB)
2.15 ? 0.17 (8.59%)
Volume: 1,561,336 @02/04/22 7:59:57 PM EST
Bid Ask Day's Range
2.15 2.51 1.9 - 2.14
OLB Detailed Quote
OLB Group Inc (OLB)
2.0901 ? 0.1101 (5.56%)
Volume: 1,091,454 @02/04/22 2:42:30 PM EST
Bid Ask Day's Range
2.09 2.1 1.9 - 2.12
OLB Detailed Quote
+6% today thus far. The huge gap/spike up on Wednesday on the positive revenue and transaction volume news was great, but now it has come back and filled the huge gap from Wednesday morning at the open, and this slow and steady climb upward in the share price on steady volume is almost preferable and more beneficial in the long run. OLB is still trading well below is low from almost all of 2021 at $3.30, and has a lot more upside near term, IMO,.
Gap filled from huge spike up yesterday on the news. Look at the 3 month and 6 month charts. Until the very last days of tax loss selling in December the 52 week low for all of 2021 was around $3.30.
1.70s ...1.85s
waiting to get in
OLB Group Inc (OLB)
2.0 ? 0.11 (5.82%)
Volume: 81,551,804 @02/02/22 7:51:04 PM EST
Bid Ask Day's Range
2.0 2.02 2.08 - 2.58
OLB Detailed Quote
72.4 Million shares of volume today vs avg. daily volume of 451,000 shares. Just incredible. but today's news was huge.
thank you/OLB Group Inc (OLB)
2.265 ? 0.375 (19.84%)
Volume: 75,002,722 @02/02/22 2:40:15 PM EST
Bid Ask Day's Range
2.26 2.27 2.21 - 2.58
OLB Detailed Quote
OLB mentioned in a new article out today from FinancialNewsMedia.com:
Consumer Interest Continues to Rise as CBD Sales Expected to Reach $16 Billion By 2026
8:30 am, February 2, 2022
• Portfolios: Portfolio 1
• Tickers: OLB CGC HEXO OGI TLRY TSX:HEXO TSX:OGI TSX:WEED
PALM BEACH, Fla., Feb. 2, 2022 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - Brightfield Group recently released a report on the sales of cannabidiol (CBD) in the United States. According to the report, sales of CBD reached $5.3 billion in 2021, an increase of 15% over sales in 2020. The pandemic constrained CBD growth, with brands losing revenue from store closures, but a strong e-commerce presence helped brands make up for the loss in sales, particularly those with extensive direct-to-consumer experience, a database of newsletter subscribers, and large social media following. According to Brightfield, 52% of CBD consumers surveyed in October/November 2020 moved their CBD purchases online because of the pandemic, with Gen X shoppers being the most likely to switch to e-commerce to purchase CBD. In 2021, Brightfield estimates that online sales… surpassed $2 billion, and accounted for 38% of the total market. When it comes to product type, tinctures are leading the pack, with the largest share in retail sales, accounting for 22% of retail sales… and driving 18% of CBD retail sales in 2021. However, continued innovation in the space with alternative delivery formats will shrink this lead. For example, drinks and gummies… were the fastest growing product types in 2021, with 71% and 44% year-over-year growth, respectively. Active Companies in the markets today include The OLB Group, Inc. (NASDAQ:OLB), HEXO Corp. (NASDAQ:HEXO) (TSX:HEXO), Organigram Holdings Inc. (NASDAQ:OGI) (TSX:OGI), Tilray Brands, Inc. (NASDAQ:TLRY), Canopy Growth Corporation (NASDAQ:CGC) (TSX:WEED).
Topicals and skincare have gained a great deal of traction as mass market retailers signed on to carry topically applied CBD products. As a result, topicals made up a 16% share and skincare products made up a 7% share of the market in 2021. Looking ahead, says Brightfield, CBD sales will reach $16 billion by 2026.
The OLB Group, Inc. (NASDAQ:OLB) BREAKING NEWS: OLB Group Achieves Annual Transaction Volume Run Rate of $1.35 Billion Following CBD Merchants Acquisition - Merchants Acquisition is Expected to Add $25 Million to Revenue for 2022 -The OLB Group, Inc., a diversified Fintech eCommerce merchant services provider and Bitcoin cryptocurrency mining enterprise, announced today that the Company's merchant services annual transaction volume run rate has reached $1.35 Billion in transaction volume as a result of 28.5 million transactions.
After the Company's acquisition of a portfolio of CBD merchant accounts in the last quarter, OLB has started the current year with the highest revenue run rate in the history of the company. As a result of a diversified merchant base which is not reliant on large merchants and high dollar transactions, the Company's eCommerce merchant services business is tracking at an anticipated annual revenue run rate exceeding $36 Million for 2022. Since the acquisition, the Company has benefited from onboarding approximately 150 new merchant accounts per month.
Ronny Yakov, President and CEO of OLB, said, "In 2021, we began the year with an annualize revenue run rate of approximately $10 million. Starting this year at a $36 million annualized revenue run rate is likely to maximize our economies of scale and contribute to our bottom line."
OLB believes that its merchants in the CBD marketplace will likely see an increase in transaction volume as the overall market size grows. According to a February 2021 report by Grandview Research relating to the current and future CBD market sector, "The market is estimated to witness a y-o-y growth of approximately 20% to 23% in the next 5 years. Hemp-derived CBD is expected to grow at a CAGR of 23.4% post-pandemic owing to increasing demand from the pharmaceutical sector and rising awareness among consumers regarding health."
Yakov continued, "Our CBD merchant portfolio acquisition is expected to add $25 million to our revenue this year and is anticipated to contribute up to $5 Million in incremental EBITDA. Adding to our improved financial position by having no outstanding debt, this should give us the financial flexibility to ramp up our cryptocurrency-related operations." CONTINUED… For more information about The OLB Group, please visit https://olb.com/ or http://olb.com/investors-data/.
Other recent developments in markets include:
HEXO Corp. (NASDAQ:HEXO) (TSX:HEXO), a leading producer of high-quality cannabis products, recently provided an update on its previously announced strategic plan, "The Path Forward", designed to solidify HEXO's position as the number one cannabis company in Canada by recreational market share, with the goal of becoming the first amongst its peers to be cash flow positive from operations.
"The Path Forward is made up of both expense and growth initiatives. Today's announcement of new product launches supports our strategy to accelerate growth through organic market share gains and speaks to our commercial capabilities and strong innovation pipeline," said Scott Cooper, CEO of HEXO. "To that end, HEXO is seeing significant demand for its products and brands across multiple categories and geographies and we continue to remain focused on our growth objectives."
Organigram Holdings Inc. (NASDAQ:OGI) (TSX:OGI), the parent company of Organigram Inc. (together, the "Company" or "Organigram"), a leading licensed producer of cannabis, recently announced its results for the first quarter ended November 30, 2021 ("Q1 Fiscal 2022").
"Our record-breaking results in the first quarter of Fiscal 2022 are a testament to our successful strategy to create innovative, high-quality products that align with the evolving preferences of the various segments of cannabis consumers," said Beena Goldenberg. "Our positive outlook for 2022 is further bolstered by the addition of Laurentian's premium products to our portfolio, with an increased presence in Quebec and the resumption of international sales, which will continue through the year."
"We are also pleased with our continued progress at improving economies of scale in our operations, thus reducing operating costs and driving significant improvements in adjusted gross margin and adjusted EBITDA," added Goldenberg. "While we previously projected to achieve positive adjusted EBITDA in Q4, with the purchase of Laurentian that will be accelerated to Q3 Fiscal 2022."
Tilray Brands, Inc. (NASDAQ:TLRY), a leading global cannabis-lifestyle and consumer packaged goods company inspiring and empowering the worldwide community to live their very best life, recently announced the expansion of its medical cannabis product offering in Australia and a new medical cannabis e-learning platform for healthcare providers.
Denise Faltischek, Head of International and Chief Strategy Officer, said, "Tilray is transforming the industry globally with our highly scalable footprint and portfolio of diverse cannabis products. As medical cannabis demand increases worldwide, we remain committed to providing healthcare professionals and patients with safe and reliable access to the highest-quality medical cannabis products." Ms. Faltischek continued, "After listening to patient feedback and leveraging learnings from our operations in Germany, we are excited to be introducing new products in Australia that meet consumer needs."
Canopy Growth Corporation (NASDAQ:CGC) (TSX:WEED), a world-leading diversified cannabis, hemp, and cannabis device company, recently unveiled the next chapter of the Tweed brand with the launch of new products, formats, and a refresh of the brand's look and feel. The brand is introducing a new era of Tweed, inspiring Canadians to start their year off in whatever way feels good for them.
"Since we first introduced Tweed to Canadians in 2014, it has been recognized as an iconic symbol of Canadian cannabis legalization, garnering the highest brand awareness amongst Canadian cannabis consumers 1. The brand is proud to deliver a new look and feel and a revitalized product lineup with new product formats," said Kelly Olsen, Vice President, Global Flower Business. "With the launch of 'Whatever Feels Good,' we're committed to maintaining our position as an approachable brand that delights Canadians through our innovative new products to deliver joy in everyday moments."
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult =a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated twenty six hundred dollars for news coverage of the current press releases issued by The OLB Group, Inc. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Contact Information:
Media Contact email: editor@financialnewsmedia.com
+1(561)325-8757
Volume Run Rate of $1.35 Billion annually Following CBD Merchants Acquisition is very positive and impressive, but the thing that everyone needs to remember, as detailed in today's PR, is that the revenue stream does not rely on crypto and that the company has numerous other critical and significant revenue streams.
OLB Group Achieves Annual Transaction Volume Run Rate of $1.35 Billion Following CBD Merchants Acquisition
Annual Revenue Run Rate for eCommerce Merchant Services, Anticipated to be Approximately $36 Million and Positive EBITDA for 2022.
Merchants Acquisition is Expected to Add $25 Million to Revenue for 2022
NEW YORK -- February 2, 2022 -- InvestorsHub NewsWire -- The OLB Group, Inc. ("OLB," "we," "us," "our," or the "Company"), a diversified Fintech eCommerce merchant services provider and Bitcoin cryptocurrency mining enterprise, announced today that the Company's merchant services annual transaction volume run rate has reached $1.35 Billion in transaction volume as a result of 28.5 million transactions.
After the Company's acquisition of a portfolio of CBD merchant accounts in the last quarter, OLB has started the current year with the highest revenue run rate in the history of the company. As a result of a diversified merchant base which is not reliant on large merchants and high dollar transactions, the Company's eCommerce merchant services business is tracking at an anticipated annual revenue run rate exceeding $36 Million for 2022. Since the acquisition, the Company has benefited from onboarding approximately 150 new merchant accounts per month.
Ronny Yakov, President and CEO of OLB, said, "In 2021, we began the year with an annualize revenue run rate of approximately $10 million. Starting this year at a $36 million annualized revenue run rate is likely to maximize our economies of scale and contribute to our bottom line."
OLB believes that its merchants in the CBD marketplace will likely see an increase in transaction volume as the overall market size grows. According to a February 2021 report by Grandview Research relating to the current and future CBD market sector, "The market is estimated to witness a y-o-y growth of approximately 20% to 23% in the next 5 years. Hemp-derived CBD is expected to grow at a CAGR of 23.4% post-pandemic owing to increasing demand from the pharmaceutical sector and rising awareness among consumers regarding health." (See https://www.grandviewresearch.com/industry-analysis/cannabidiol-cbd-market)
Yakov continued, "Our CBD merchant portfolio acquisition is expected to add $25 million to our revenue this year and is anticipated to contribute up to $5 Million in incremental EBITDA. Adding to our improved financial position by having no outstanding debt, this should give us the financial flexibility to ramp up our cryptocurrency-related operations."
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 10,500 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 and www.Dmint.com.
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, the CBD and related products marketplace, 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.
Rick Lutz
The OLB Group - Investor Relations
InvestorRelations@olb.com
(212) 278-0900 EXT: 333
2.50 on news
It appears that OLB is starting to trade in tandem with the fortunes of Bitcoin and cryptocurrencies in general, which I am not certain is a good thing. OLB has other primary businesses, e.g. payment processing, which provide the current revenue stream. OLB was staring to rebound from its new lows nicely yesterday, until Russia suggested it will outlaw cryptocurrencies, and OLB followed crypto down hard this am.
NEWS OUT: OLB GROUP Anticipates Start of Delivery of Additional 400 ANTMINER S19J PRO Cryptocurrency Machines This Month
Upon receipt of the 400 machines, OLB will have Total of 1,000 Antminer S19j Pro cryptocurrency machines operating in two facilities in Bradford, PA
https://ih.advfn.com/stock-market/NASDAQ/olb-OLB/stock-news/87011003/olb-group-anticipates-start-of-delivery-of-additio
Positive news out yesterday. Would have expected the share price to rebound much faster this month from the year-end tax loss selling:
OLB Group Inc. Signs Long Term Lease For 10,000 Square Foot Cryptocurrency Mining Facility In Bradford, PA
7:45 am ET January 11, 2022 (Benzinga) Print
DMint, a Wholly Owned Subsidiary Dedicated to Cryptocurrency Mining, Building Out Second Data Center Facility to be Powered from the Local Power Grid
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 the company has signed a long term lease on a 10,000 square foot mining operation with capacity for up to 2,000 Antminer S19j PRO machines. Located in an industrial park adjacent to the Bradford Regional Airport in Bradford, Pennsylvania to eliminate potential noise complaints, the facility is in the process of being converted into a cryptocurrency mining data center powered on the local power grid in tandem with natural gas power.
The Company anticipates utilizing debt financing for the capital investment necessary for additional crypto mining machines.
"We are very pleased to be taking this next step in building the foundation for our planned aggressive development of our Bitcoin mining operation. Our first facility in Bradford is currently operating on natural gas. This second facility will be powered from the power grid. This blended power solution lays the foundation to establishing a sustainable, cost-efficient Bitcoin mining operation."
"With room to install up to 2,000 Bitcoin mining machines in this second facility, this data center will eventually meet the challenge of minimizing our carbon footprint and operating a cost efficient and profitable operation."
Great buy! I fired a bit too quick with my starter higher than this, but have added to it. The tax loss selling will be over in a couple of days, but has presented a terrific buying opportunity here well below the previous 52-week low of $3.30. OLB will bounce back strong from the January effect after tax loss selling is no longer a factor.
Grabbed a starter under $3.00 $OLB
New 52-week lows hitting, but still appears to be just tax loss selling into the end of the year.
Added again today on the dip after OLB opened nicely up. The recent tax loss selling here has provided a very beneficial buying opportunity before the likely strong share price recovery in the New Year.
I acquired an initial position in OLB here today based on valuation and my belief that OLB is seriously undervalued here right now due to the recent serious pullback, which clearly appears to be solely due to tax loss selling. OLB should bounce back hard into January, IMO.
THANK YOU
RE;
OLB Group Inc (OLB)
3.66 ? -0.18 (-4.69%)
Volume: 195,484 @12/17/21 6:34:37 PM EST
Bid Ask Day's Range
3.57 4.1 3.62 - 3.9
OLB Detailed Quote
Sounds encouraging. On another note the recent pullback here appears likely to be due to tax loss selling.
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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
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.
Transaction Volume for First Nine Months was $ 668 Million From 10.2 Million Transactions;
Launches Bitcoin Mining Subsidiary
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
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.
The OLB Group - Investor Relations
InvestorRelations@olb.com
(212) 278-0900 EXT: 333
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