Bitcoin Services Inc (fka BTSC)

[james_west_1965]

Quarterly report released yesterday - good news

http://www.otcmarkets.com/financialReportViewer?symbol=BTSC&id=182531

Revenues up through Sept 30 '17 $312,659 from $132,694 Sept 30 '16. Good stuff. Up 135%[color=red][/color]!

Paid off $229,009 of debt.

"The company has 39.9674998 bitcoins" worth $287,286.38 at today's market value of about $7100 per coin.

As noted, "Dividends may be paid on outstanding shares as declared by the Board of Directors." There is an undisclosed board of directors.

Cash balance at the end of the Sept 30 2017 period: $344,957. This is a net cash increase of $255,305 from a year ago. BTSC has a firmer footing.

Accumulated deficit has shrunk from $116,451 (Dec 2015) to $50.611 (Dec 2016) to $28.878 (Sept 2017). The paying down of debt of $229K to a current deficit of $28,878 is significant. It shows a good financial philosophy of being debt free, which at this rate, should happen shortly.

Earnings per share is defined as (net income - dividend)/outstanding shares. As of Sept 30, the outstanding common shares of BTSC is 625,836,771 shares. With net income being $21,733 and no dividend, this puts BTSC's EPS at 0.000035 per share, which is nearly zero but is a positive value. This is compared to 0.000097 in Dec '16. The reduction in EPS is due to paying down company debt.

With revenue up 135%, debt reduced substantially to now manageable levels ($28,000) and positive net income, there seems to be a solid footing for this company. Meaningful profitability is just around the corner with the surging value of cryptocurrencies worldwide.

James