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Jacksonville, Florida, April 03, 2023 (GLOBE NEWSWIRE) -- Everything Blockchain Inc., (OTCMKTS: EBZT), a technology company that is blending blockchain, DBMS and Zero Trust to deliver disruptive new ways to store, manage and protect data, today announced a partnership with Al-Rushaid Technologies (ART). Together, the two companies will work to deliver highly-differentiated data protection solutions to countries in the Middle East and North Africa.
ART, a subsidiary of Al-Rushaid Group, offers a variety of innovative IT solutions suitable for companies of all sizes and across various industries. The five-year distribution deal with a combined total of $47 million in performance based milestone payments to EBI will position ART as the exclusive agent of the company’s EB Control platform in several MENA countries, including Saudi Arabia, Bahrain, Kuwait, the United Arab Emirates, Oman and Egypt.
EB Control safeguards data on the owner's local device by creating a secure vault. This vault can be stored, transported or shared, allowing owners to maintain complete control for the lifespan of the data. With EB Control, data and files can be geo-fenced, time-fenced and data rights management invoked. With this innovative technology, data can be confidently shared and controlled outside of a secure domain.
“We are thrilled for this partnership with ART,” said Toney Jennings, Chief Executive Officer, EBI. “EB Control merges simplicity of use with elevated and extended security protections. We are confident that our technology will exceed all data protection needs of small and medium-sized businesses to large corporations across MENA countries.”
In addition to EB Control, ART will become a non-exclusive reseller of BuildDB, EBI’s next-generation database powered by a advanced private blockchain architecture that delivers superior performance, reduced latency, zero trust and unmatched resilience.
For more information about EBI, visit everything blockchain.io.
About Everything Blockchain Inc. Everything Blockchain, Inc. (OTCMKTS: EBZT) envisions a future where every transaction is trusted and blockchain is used to meet ESG goals, support cities of the future, build and control the transparency of supply chains and ensure the rights of data ownership sustain forever. The company’s patent-pending advances in blockchain engineering deliver the essential elements needed for real-world business use: speed, security, and energy efficiency. Current sub-brands include: EB Advise, EB Build and EB Control. For more information, please visit https://www.everythingblockchain.io/
Forward Looking Statements This news release contains “forward-looking statements” which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan” or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of blockchain and zero trust- based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.
Lars Nyman Everything Blockchain Inc. lnyman@everythingblockchain.io
LMAO What's your point bringing up an 8 year old article that has nothing to do with EBZT? That the dividend I received with every other shareholder was some kind of payoff for me to write a positive article? It's 2023 not 2015 and this board is about Everything Blockchain, Inc. not mCig.
Like any other user of this board, I have been positive about stocks that I've invested in. I have never agreed to write positive information about a company in exchange for compensation.
You have absolutely zero evidence that anyone participated in a scam. The lawsuit came from a disgruntled employee who was fired for incompetence and misrepresentation, which cost the company millions in lost revenue.
I wouldn't. Can't revenge the guys name but he was the accountant for mcig and managed the business and turned out to be a scammer. There was even a lawsuit buy one of their contractors claiming security fraud which was settled out of court. And stock lesgetrich promotes, you want to stay away from.
Platform will be based on Everything Blockchain’s secure, patent-pending blockchain technology
Jacksonville, Florida, Oct. 18, 2022 (GLOBE NEWSWIRE) -- Everything Blockchain Inc., (OTCMKTS: OBTX), a technology company that enables real-world use of blockchain to solve critical business issues, today announced that it has entered into an agreement with SP Capital Management, LLC to develop a World Medical Platform (WMP) and electronic medical records (EMR) built on blockchain technology. The platform along with corresponding medical records, will be stored in a decentralized blockchain utilizing EB Build: EBI’s secure, patent-pending blockchain technology.
A new federal rule that went into effect October 6, 2022, requires health care organizations to give patients unfettered access to their full health records in digital format. It’s imperative to protect this information from potential bad actors. The World Medical Platform enables storing these medical records on blockchain technology enabling individuals to secure their personal identifiable information (PII) and personal health information (PHI) while also providing an immutable health record. The World Medical Platform will serve as a one-stop-shop for those looking to take charge of their health information and keep it secure.
“Our World Medical Platform will be a game changer for keeping medical information secure and giving the data owners complete control over how it is shared,” said Sandy Lipkins, President, SP Capital Management. “Everything Blockchain’s technology gives consumers, payers, and medical providers and systems peace of mind knowing that there is an immutable record.”
The agreement consists of three phases, i) design, ii) development, and iii) implementation. EBI will be compensated for design and development cost of $1.25 million in cash and $5.0 million in token compensation. EBI will receive transactional fees throughout the life of the system.
BIS Research estimates that the immediate application and integration of blockchain in healthcare could save more than $100 billion per year in costs related to IT, operations, support functions, personnel, and health data breaches by 2025. “Partnering with SP Capital Management, to provide a world wellness platform enables us to enter into a market that is only growing in prominence and importance,” said Toney Jennings, Chief Executive Officer, EBI. “With our patent-pending blockchain technology as a foundation, users will be empowered to securely store their medical data, forever.”
For more information about EB Build, please click here. For more information about EBI, visit everythingblockchain.io
About Everything Blockchain, Inc. Everything Blockchain, Inc. (OTCMKTS: OBTX) envisions a future where every transaction is trusted and blockchain is used to meet ESG goals, support cities of the future, build and control the transparency of supply chains and ensure the rights of data ownership sustain forever. The company’s patent-pending advances in blockchain engineering deliver the essential elements needed for real-world business use: speed, security, and energy efficiency. Current sub-brands include: EB Advise, EB Build and EB Control. For more information, please visit https://www.everythingblockchain.io/
Forward Looking Statements This news release contains “forward-looking statements” which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan” or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of blockchain and zero trust- based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.
Patents filed for the company’s data protection SaaS application showcase ability to innovate
JACKSONVILLE, Fla.--(BUSINESS WIRE)-- Everything Blockchain Inc. (EBI), (OTCMKTS: OBTX), a technology company that provides powerful data protection solutions for business owners and individual consumers, today announced that it filed two additional patents for EB Control. EB Control is an easy-to-use and affordable data protection SaaS application.
These patents are pivotal to further EBI’s intellectual property and showcase’s our ability to innovate in this rapidly growing market. In fact, Fortune Business Insights states that the global blockchain market size is projected to reach $163.83 billion in 2029, at a CAGR of 56.3% during the forecast period. They also predict the global cybersecurity market to reach $376.32 billion in 2029, at a CAGR of 13.4%. The addition of these two patents expands the company’s provisional patent portfolio to 23 globally.
The solutions offered by EBI enable it to be ideally poised to empower companies to take advantage of blockchain’s advanced confidentiality and integrity, secure messaging, authentication fortification and strengthened public key infrastructure.
“Blockchain and cybersecurity are hot categories that require rapid innovation in order for companies to stay ahead of the curve,” said Brandon Hart, Chief Technology Officer, EBI. “Expanding our portfolio of patents helps us meet the needs of our customers with innovative solutions while protecting our IP.”
With EB Control, the original data owner retains control of who, when, how and where their data can be accessed. EB Control, which was launched into market in July, is secure by design, as reinforced by an independent third-party architectural review conducted by Bridgery Technologies LLC. EB Control is available to individual customers on desktop via the EB Control website (www.ebcontrol.io) and mobile via the Apple store and Google Play store.
For more information about EB Control, please click here. For more information about EBI, visit everythingblockchain.io
About Everything Blockchain, Inc.
Everything Blockchain, Inc. (OTCMKTS: OBTX) envisions a future where every transaction is trusted and blockchain is used to meet ESG goals, support cities of the future, build and control the transparency of supply chains and ensure the rights of data ownership sustain forever. The company’s patent-pending advances in blockchain engineering deliver the essential elements needed for real-world business use: speed, security, and energy efficiency. Current sub-brands include: EB Advise, EB Build and EB Control. For more information, please visit https://www.everythingblockchain.io/
About Vengar Technologies LLC
Vengar Technologies, LLC, an Everything Blockchain Inc. company, is a pioneer in bringing zero-trust concepts to data security. The company’s solution, EB Control, merges military-grade encryption, multi-factored authentication, geo-fencing, time-fencing and DRM technologies to provide users with perpetual control of their data whether stored or shared. EB Control’s intuitive, simple platform empowers users to take back control of their data security. Forever. For more information, please visit: https:/www.ebcontrol.io/
Forward Looking Statements
This news release contains “forward-looking statements” which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan” or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of blockchain and zero trust- based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.
Program brings to market a data protection solution that provides customizable controls to enable confident data sharing
Jacksonville, Florida, June 15, 2022 (GLOBE NEWSWIRE) -- Everything Blockchain Inc., (OTC Markets: OBTX) , through its subsidiary Vengar Technologies, today announced the launch of its channel program to deliver EB Control, an innovative data protection solution for small and midsized businesses who need to confidently share proprietary and sensitive information.
Data is a company’s most valuable asset. Its abuse and misuse can cost a company its credibility, revenue and even force them to close their doors. Everything BLockchain believes that current data protection solutions are too expensive for most companies and are challenging to implement and use.
The company’s channel program will infuse the market with a simple, intuitive and cost-effective software application for data protection. Partners engaged in the program will be able to provide their customers with a product that offers military-grade of encryption, without the labor required to define rules or manage keys. Companies who use EB Control will retain total control over the data they own, regardless of where it travels once it leaves their possession for the remainder of the data’s lifetime.
“We are proud to provide our partners with a fresh take on data protection that does not prohibit data sharing—but rather, confidently encourages it with customizable controls,” said Robert Huffman, Channel Program Director. “The channel is the best way to ensure that EB Control is available to as many organizations as possible so they can protect their intellectual property against insider threats, third party breaches or human error.”
Channel Program partners will receive benefits such as opportunity registration and protection, co-marketing support, competitive pricing assistance and early access to product updates. EB Control for Business is only available through the Vengar Technologies Channel program. Learn more about the EB Control Channel program here.
About Everything Blockchain, Inc
Everything Blockchain, Inc. (OTCMKTS: OBTX) envisions a future where every transaction is trusted and blockchain is used to meet ESG goals, support cities of the future, build and control the transparency of supply chains and ensure the rights of data ownership sustain forever. The company’s patent-pending advances in blockchain engineering deliver the essential elements needed for real-world business use: speed, security, and energy efficiency. Current sub-brands include: EB Advise, EB Block and EB Control. For more information, please visit https://www.everythingblockchain.io/
About Vengar Technologies Inc.
Vengar Technologies Inc., an Everything Blockchain Inc. company, is a pioneer in bringing zero-trust concepts to data security. The company’s solution, EB Control, merges military-grade encryption, multi-factored authentication, geo-fencing and digital rights management (DRM) technologies to provide users with perpetual control of the data they choose to share. EB Control’s intuitive, simple platform empowers users to take back control of their data security. Forever. For more information, please visit:
Compared to other similar companies, OBTX is extremely undervalued. This is due to its very low number of Outstanding Shares (OS). As of 4/26/2022, Everything Blockchain's OS was 8,604,038 shares. Yesterday's announcement claimed that the company recorded net income of $2.3 million for fiscal year 2022 (ending 4/30/2022).
A quick look at the Stern School's analysis of Price/Earnings (PE) Ratios...
...shows that companies engaged in Software (System & Application) development, on average, had a PE Ratio of 107.62 time Earnings Per Share (EPS), a Trailing PE Ratio of 130.77x and a forward PE ratio of 104.56x. Projecting this analysis onto Everything Blockchain, we get the following...
$2,300,000 Net Income / 8,604,038 OS = $.267 EPS $.267 EPS x 107.62 = $28.73/share pps $.267 EPS x 130.77 = $34.92/share pps $.267 EPS x 104.56 = $27.92/share pps
Consequently, a price target of anywhere from $27.92/share to $34.92/share would not be unreasonable if you believe the company's growth and profit margins are sustainable. I am not predicting that the company will reach this range any time soon, only that there's a very high probability of price appreciation as the current pps does not properly represent the company's potential.
Innovative investments strengthen foundation and position company for continued growth Jacksonville, Florida, May 10, 2022 (GLOBE NEWSWIRE) -- Everything Blockchain, Inc. (OTCMKTS: OBTX), a technology company that enables real-world use of blockchain to solve critical business issues, today reported its financial results for the year, which ended January 31, 2022.
Key Highlights:
Generated $2.5 million revenue in fiscal 2022, up from $0.1 million in fiscal 2021 Adjusted revenue was $11.9 million in fiscal 2022, up 4x from $3.0 million in fiscal 2021 Recorded net income of $2.3 million in fiscal 2022, up from a net loss of $50.0 million in fiscal 2021 Adjusted EBITDA was $5.2 million in fiscal 2022, up from adjusted EBITDA of $1.1 million in fiscal 2021 Completed a series of four transformative acquisitions Changed company name to better reflect expansive business opportunity in blockchain Took lead position in Ethereum fork PulseChain alongside Overwatch Partners, Everything Blockchain’s major shareholder Expanded board with appointment of two independent directors in anticipation of uplisting to a senior exchange Strengthened and expanded management team with C-level additions, adding COO, CIO, CSO, CTO, and CRO “Our team’s execution of our strategy in fiscal 2022 gives Everything Blockchain an extremely strong foundation from which to accelerate growth and profitability,” said Eric Jaffe, Chief Executive Officer of Everything Blockchain, Inc. “The combination of strategic acquisitions and investments, as well as support from forward-looking customers, investors and partners, places us in a great position to realize our vision of disrupting the technology market as it is today.”
The acquisitions Everything Blockchain completed in fiscal 2022 provide the company with a growing suite of innovative and novel business offerings. These offerings are being incorporated under three distinct sub-brands: EB Advise, EB Build, and EB Control. EB Advise provides expert consulting services across all aspects of blockchain to assist customers exploring the use of blockchain to solve real-world business problems. EB Build, the company’s patent-pending blockchain platform, will serve as the backbone of Everything Blockchain’s proprietary blockchain and zero-trust ecosystem. EB Control provides a zero-trust data access solution for individuals and organizations seeking continuous control of their data across its lifespan.
“We continue to successfully integrate our acquisitions into Everything Blockchain’s operations, strategies, and marketing,” said Bill Regan, Chief Financial Officer of Everything Blockchain, Inc. “We are well positioned for growth in the quarters ahead and expect to capitalize on rapidly expanding opportunities as blockchain technology becomes an integral part of more and more industries.”
To further accelerate its growth plans, the company plans to raise up to $8 million from accredited investors through its Series C Preferred stock. To date, Everything Blockchain has received $1.5 million in capital through a strategic investor working with the company to advance its products and services in the Middle East and North Africa (MENA) region. One of the company’s largest shareholders, Christian “Rackham” Rishel, (www.rackham.com), a partner in Overwatch Partners with Everything Blockchain’s Chairman of the Board Michael Hawkins, has indicated participation in the Series C Preferred Stock financing, taking a larger stake in the company by closing out the financing round, which is expected to close during the second quarter.
Everything Blockchain, Inc.’s financials for FY21 and FY22 are as follows.
For the Years Ended January 31, 2022 2021 (in thousands) Revenue $ 2,481 $ 62 Cost of sales 231 - Gross profit 2,250 62 Selling, general and administrative 4,183 49,975 Depreciation and amortization 96 - Total operating expenses 4,279 49,975 Loss from operations (2,029) (49,913) Other income (expense), net 5,181 614 Income (loss) before income taxes 3,152 (49,299) Income tax expense 835 - Net income (loss) $ 2,317 $ (49,299)
Everything Blockchain, Inc.’s adjusted financials for FY21 and FY22 are as follows.
For the Years Ended January 31, 2022 2021 (in thousands) Adjusted revenue $ 11,855 $ 3,018 Adjusted cost of sales 4,648 423 Adjusted gross profit $ 7,207 $ 2,595 Adjusted expenses $ 1,996 $ 1,457 Adjusted EBITDA $ 5,211 $ 1,138
About Everything Blockchain, Inc.
Everything Blockchain, Inc. (OTCMKTS: OBTX) envisions a future where every transaction is trusted and blockchain is used to meet ESG goals, support cities of the future, build and control the transparency of supply chains and ensure the rights of data ownership sustain forever. The company’s patent-pending advances in blockchain engineering deliver the essential elements needed for real-world business use: speed, security, and energy efficiency. Current sub-brands include: EB Advise, EB Block and EB Control. For more information, please visit https://www.everythingblockchain.io/
Forward Looking Statements
This news release contains “forward-looking statements” which are not purely historical and may include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan” or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of blockchain and zero trust- based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations, or intentions will prove to be accurate.
Adjusted Revenue Statement This news release contains non-GAAP financial information with respect to adjusted revenues and Adjusted EBITDA. Adjusted Revenue is defined by the Company as revenue adjusted for cryptocurrency activities. Adjusted EBITDA, which is a non-GAAP financial measure, is defined by the Company as net income (loss) plus net interest income, income tax (benefit) expense, depreciation and amortization, and stock-based compensation, and related party transactions recorded in equity for the year ended January 31, 2021. Adjusted Revenue and Adjusted EBITDA presented by other companies may not be comparable to our presentation since each company may define these terms differently. The Company has included these non-GAAP financial measures because management reviews them on a regular basis and uses them to evaluate and manage the performance of the Company’s operations. Management believes that these non-GAAP financial measures provide useful information to investors as a supplement to our GAAP financial statements. However, these measures should be evaluated only in conjunction with the comparable GAAP financial measures and should not be viewed as alternative or superior measures of GAAP results.
During the quarter ended April 30, 2020, the Company issued 150,000 shares of Series B Preferred stock to Paul Rosenberg in exchange for 60 cryptocurrency ATM machines. Par value of $15 was recorded as inventory with the FMV of $6,629,300 minus the par value being recorded as stock-based compensation. The Company valued the stock under ASC 820 utilizing the Option Pricing Method to value conversion rights, and the Market Approach to value the voting control.
Jacksonville, Florida, Jan. 26, 2022 (GLOBE NEWSWIRE) -- Everything Blockchain, Inc., (OTCMKTS: OBTX), an advanced platform architect, development and services company and software foundry, specializing in blockchain technologies, decentralized processing, and zero trust applications expands operations of its recently acquired Mercury, Inc in Idaho Falls, Idaho as part of its long-term development of cybersecurity using blockchain, as well as cryptocurrency mining operations.
The average cost of a data breach in the United States surpassed $8.6 million in 2020, according to IBM, meanwhile internet crime victims lost $4.2 billion in that same year, based on FBI reports. Clearly, IT and cybersecurity are more critical than ever to businesses and individuals alike.
Interestingly, several cities stand out when it comes to opportunities for cybersecurity professionals, with Idaho Falls, Idaho topping the list of small cities and coming in second on the overall best-of list. The analysis from AdvisorSmith noted that the city serves as a regional commercial and healthcare hub. IT security analysts in the area enjoy a notable average salary exceeding $130,000 and the city has three times the industry jobs of the average U.S. city, not to mention a cost of living that is seven percent (7%) lower than the national average.
Recognizing the potential of this western region ahead of this survey, Everything Blockchain‘s Idaho Falls-based Mercury, Inc has more than doubled its operations since acquisition. Everything Blockchain’s mining operations in Idaho Falls has recently expanded generating positive cashflow to the Company prior to the end of its fiscal year (January 31, 2022). The Idaho Falls based crew was instrumental in the infrastructure of the Company’s beta release of its cybersecurity data protection platform today scheduled for worldwide launch as soon as February 2022. Everything Blockchain will continue conducting research and development into advancements in its service products while growing its cryptocurrency mining work in the Idaho Falls location.
“We specifically chose Idaho Falls as the base for our R&D and mining operations based on the region’s established success in cybersecurity and technology, which are incredibly important to business growth and continuity,” said Everything Blockchain CEO Eric Jaffe. “From its geographic location to skilled workforce to affordability, Idaho Falls is a key part of our organization’s strategic growth plan, and we couldn’t be more pleased that we had the foresight to enter into this region last year.”
Through the Mercury acquisition, all team members in Idaho Falls were maintained and Everything Blockchain aims to further grow its Idaho team. To view the full report on best cities for IT security analysts, please visit https://advisorsmith.com/data/best-cities-for-it-security-analysts/.
About Everything Blockchain
Headquartered in Jacksonville, Fla., Everything Blockchain, Inc. (OTCMKTS: OBTX) is a platform developer, specializing in systems’ architecture, and a software foundry of blockchain technologies, decentralized processing, Internet of Things and Zero Trust. For more information, please visit https://www.everythingblockchain.io/
Forward Looking Statements
This news release contains “forward-looking statements” which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan” or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of blockchain and zero trust- based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.
Add on that they are supporting and sacrificing to pulse , which has been pushed out a few months later than anticipated . They are going to show a decline in crypto related revenue imo
Originally, in 1Q21, they received $1,081,000 in Services Revenue which was probably paid in HEX. Thru 3FQ22 (as of October 31, 2021) they've received an additional $880,000 in services revenue, $706,000 of which was paid in 3FQ22.
Consequently, it appears that thru nine months they've collected roughly $2 million for services and gained another $4.7 million from crypto appreciation and $4.7 million from cryptocurrency sales.
This is statement is 100% wrong , period. And subsequent statements are not based in fact either. We definitely need more educated statements , which I will happily provide as I do understand the accounting, finance, and business they operate in .
If you are trying to claim that the roughly $5 million increase in revenue proves that they're counting crypto appreciation as revenue you're wrong. Their services contract may well have included a final payment in Pulse coins once everything was completed. That wouldn't be appreciation but simply a completion bonus which incentivizes them to become validators. From their 7/28/21 PR
The statement was 100% wrong and the statement and others like it have been wrong and shows that a misunderstanding of how accounting works , it is not based on accounting nor finance knowledge. This is how I was able to make truthful statements months ago and knew the company would ultimately have to show this in their filing .
Again the statement was 100% inaccurate and devoid of truth.
Their Revenue sources are outlined in the last financials as follows...
Yes, they appear to be counting the appreciation of their cryptocurrency assets (primarily HEX tokens) as "Other Revenue - Fair Value adjustment to Cryptocurrency", but the appreciation was only roughly $2 million out of roughly $5 million in revenue. Our disagreement several months ago was whether or not all of their revenue came from crypto appreciation, which it did not and still doesn't.
Their accounting in the financials is not entirely clear and it's hard to tell how much new cryptocurrency was received during the quarter and how much was sold. In other words, the dollar value is higher but we don't know, for example, if they have more or fewer Hex coins. I suspect this is a deficiency in GAAP accounting when working with crypto companies. Another issue is that we know they received subscription and services revenue, but how much of the appreciation or depreciation was on top of new revenue received.
If you are trying to claim that the roughly $5 million increase in revenue proves that they're counting crypto appreciation as revenue you're wrong. Their services contract may well have included a final payment in Pulse coins once everything was completed. That wouldn't be appreciation but simply a completion bonus which incentivizes them to become validators. From their 7/28/21 PR...
in the latest filing this was proven that they are counting crypto appreciation as revenue.
Is there any disagreement on this. Would like to settle this with either a yes or a no?
super important to the DD being done here that we acknowledge what the company is doing.
$5m was due to the appreciation of crypto ,it's right there in black and white and by the company.
According to your interpretation, it goes against everything already written by the company. In other words, the interpretation that you presented conflicts to what the company has stated.
No reason to continue this debate, it's been settled by the company.
Think about what you're claiming. According to your interpretation, in early June when they had less than $5 million in revenue which you claim came almost entirely from Crypto appreciation, they were able to accurately predict that the crypto appreciation would continue so that they would realize $14 million in crypto appreciation revenue by the end of the year. How does that make sense without a replenishable source of additional crypto coins and/or revenue?
In addition - latest filing shows all the dilution being pushed through this company. Btzi and principals are using them as a bank . Btzi handed them over their promissory note to pay meanwhile Hawkins and others are cashing in on warrants that will dilute this company. Which is only be held up due to the hex investment which has been dropping as hex also has seen a 70% haircut
Hopefully they moved their investment in hex out completely
hi - with the latest filing are your ready to admit that they were indeed counting crypto appreciation as revenue?
It's a bit hard to dispute, because they actually broke it out this time and it shows $4.7m of the revenue is due to "Fair value adjustment to cryptocurrency"
just to remind you of what you said:
If you are trying to claim that the roughly $5 million increase in revenue proves that they're counting crypto appreciation as revenue you're wrong. Their services contract may well have included a final payment in Pulse coins once everything was completed. That wouldn't be appreciation but simply a completion bonus which incentivizes them to become validators. From their 7/28/21 PR...
so I was 100% right with my Due Diligence.
there's also no indication still that they have anything to do with Pulse development other than potentially sacraficing for Pulse coins
I also went back and read some of your previous postings and it looks like I was on the right side of the argument and have been proved right by the companies own filing.
oh so most of the revenue is generated by holding crypto assets
interesting
That's an oversimplification. You make it sound like it's all crypto appreciation. You forget that they're also now in the crypto mining business. From their 2FQ22 10-Q
On June 30, 2021, the Company acquired all of the equity interests of Mercury, Inc. (“Mercury”), pursuant to a Purchase Agreement dated April 24, 2021. Upon the closing of the transaction (the “Mercury Acquisition”), Mercury became a wholly owned subsidiary of the Company. The Company has utilized Mercury, which is located in Idaho, as its hosting solution since May 2020. The Company with Mercury will launch its mining operations in the western United States. The Company will commence mining for Bitcoins, Ethereum, and other alternative cryptocurrencies. For information on the Mercury Acquisition refer to “Note 5. Mercury Acquisition”.
The company also realizes interest income in its investment in HEX which would be collected in crypto. From their 06/07/21 PR...
During the month of May 2021, which represents the first month of the second fiscal quarter, Everything Blockchain recorded $3.5M in revenue with $1.5M in net profit. This represents a 342% increase in revenue and a 350% increase in net profit during the first month of this quarter as compared to the revenue earned from February thru April 2021; bringing the total for the first four months of this fiscal year for Everything Blockchain to $4.8M in revenue with a net profit of $2.1M.
This rapid growth in revenue and profits stem from the Company’s involvement with HEX, claimed to be the Blockchain’s first high yield certificate of deposit. Robert Adams, Director and Chief Technology Officer stated, “HEX is a fully-functioning, decentralized high yield certificate of deposit project that reached completion of its Adoption Amplifier (sales) and operates according to the smart contracts that govern its protocols. It is not vapor-ware, an idea, still in development, but is a mature, fully-functioning and highly-complex mathematical masterpiece, and currently a Top Ten cryptocurrency according to its market valuation of $34 billion.” HEX has seen growth, acceptance, and adoption worldwide. A HEX “certificate of deposit” referred to as staking, is currently yielding an average 25-40% APY interest. Mr. Adams went on to say, “The potential market for HEX is trillions, when compared with other multi-national brick and mortar banking offerings. We we with HEX from the beginning, and our position in HEX is significant.”
Eric Jaffe, Everything Blockchain’s Chief Executive Officer stated, “While its not customary to release numbers for a single month, we felt compelled to release this information to the public for two reasons. In addition to this rapid growth in revenue that puts the Company on pace to reach $14 million in revenue this year, we have received notification from certain officers and directors who intend to purchase up to 10% of the Company’s common stock on the open market.
Moreover, as of the last 10-Q, the company had realized $11.6 million in revenue thru October 31, with two months (possibly 3 if you count January) to go to reach their $14 million target with $6.5 million in YTD profit. Of that $11.6 million, $2.2 million is revenue from services (which also is probably paid to them in crypto). In other words, when they realize gains from the sale of crypto, it's not simply selling off finite assets. It's a replenishable resource.
with HEX pumping again and the new PULSE coin launching, things are looking up for the company; however, they need to start generating operating cash flows from their main businesses
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Headquartered in Fleming Island, Florida, Everything Blockchain, Inc., formerly known as OBITX, Inc., (OTCQB: OBTX) is a development, engineering and services organization specializing in blockchain technologies and decentralized processing. The company is 49% owned by Bots, Inc. (OTC:BTZI)
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