Inolife Technologies Inc., Files Material Event
Inolife Technologies Inc. is pleased to announce that further to the corporate restructure, plan of merger and merger agreement, Inolife Technologies Inc. has relocated its domiciled from New York to Oklahoma.
Bitcoin Generation, Inc., which was the merger successor issuer to InoLife Technologies, Inc. The corporate action was completed as follows:
(1) On August 18, 2017, the board of directors caused InoLife Technologies, Inc. (“InoLife Technologies"), incorporated in Oklahoma.
(2). On December 21, 2017, the board of directors caused Bitcoin Generation, Inc. (“Bitcoin”), incorporated in Oklahoma.
(3) On February 6, 2018, the board of directors caused InoLife Technologies Operations, Inc. (“InoLife Operations”), to be incorporated in Oklahoma.
(4) On February 6, 2018, the board of directors caused InoLife Technologies, an Oklahoma corporation to be file a certificate of merger with InoLife Technologies, Inc., a New York corporation at the Secretary of State of Oklahoma. With the result being a change of domicile from New York to Oklahoma and the survivor company being InoLife Technologies an Oklahoma corporation.
(5) On February 6, 2018, the board of directors caused InoLife Technologies, Inc., a New York corporation to be file a certificate of merger with InoLife Technologies, Inc., an Oklahoma corporation with the Secretary of State of New York. With the result being a change of domicile from New York to Oklahoma and the survivor company being InoLife Technologies an Oklahoma corporation.
(6) On February 6, 2018, InoLife Technologies, InoLife Operations and Bitcoin boards of directors caused to be completed a triangular merger pursuant to 1081(g) of the General Corporation Law of the State of Oklahoma. Bitcoin became the successor issuer and new parent public company under the agreement. InoLife Technologies, an Oklahoma corporation, merged into InoLife Operations and will cease to exist. InoLife Operations being the survivor and will become the wholly owned subsidiary of Bitcoin.
Thus, a triangular merger between the three entities with Bitcoin Generation, Inc., an Oklahoma corporation as the surviving successor issuer.
The company will file a name change from Inolife Technologies, Inc. to “Bitcoin Generation, Inc.” resulting in a new CUSIP and a new symbol. The name and symbol change is in the process of being filed with FINRA.
Bitcoin Generation is a company specialized in development and or commercialization of crypto currency applications, namely in-browser mining application, which pools the computing power of website users to mine crypto currency such as Bitcoin, Ethereum, Litecoin, and Monero to name a few.
Although there is potential for revenue, it should be noted that the company does not have any revenue and or agreements as of today’s date. The company is in negotiations with several volume website operators, but no assurance can be given that the negotiations will lead to agreements and or any revenues.
Bitcoin Generation has developed and deployed its own crypto currency coins which is a smart contract ERC20 token deployed on the Ethereum network. There are a fix number of Bitcoin Generation Coin equal to that of the maximum supply of Bitcoin (21,000,000 BTG Coins) and the Bitcoin Generation Coin is registered under the symbol BTG.
Bitcoin Generation Coin is not a security, it is a utility coin and therefore it does not provide the holder with any equity in Bitcoin Generation, Inc. and or any rights to revenue, profits and or any other monetary rights such as dividends, and or interest. The Bitcoin Generation Coin is not backed by any assets and holders are not provided with guarantees whatsoever included the listing of the BTG Coin on any crypto currency exchanges. The Company will continue to monitor this situation and comply with any and all applicable laws and regulations.
It is the company’s intention to list the Bitcoin Generation Coin (BTG) onto a crypto currency exchange in the first quarter of 2018 but no guarantee can be given that the Bitcoin Generation Coin (BTG) will be listed and or that if it is listed that a market will develop in the Bitcoin Generation Coin.
Bitcoin Generation will provide 5 free Bitcoin Generation Coin (BTG) to each subscriber to its newsletter to a maximum of 1 million Subscribers for a total of 5 million Subscribers and 1 million BTG Coins may be used as additional giveaway when Subscribers respond to a call to action such as clicking on a link and reviewing a video. 5 million BTG Coin will be made available to be purchased on the company’s website, which is schedule to be live on February 1, 2018. 5 million BTG Coins will be held by Bitcoin Generation as its primary corporate asset and said BTG Coins will be required to be held by the company for a period of a minimum of 10 years. 5 million BTG Coins will held by management, controlling shareholders, and affiliates.
The company also holds 4.5 billion Bitachon out of 5 billion in total supply, the Bitachon is registered under symbol BTA. The Bitachon is a utility coin to be used in the company’s future projects. The Bitachon is not listed on any crypto currency exchange.
Pursuant to the terms of the business combination, the company issued a total of 770,000,000 restricted common shares resulting in a total of 850,537,176 common shares issued and outstanding.
Michael G. Wright has resigned from any and all office held with the company.
Denis Hadjiev has been appointed to the board of directors, and appointed President, Chief Executive Officer. Kenneth Beam will remain as the Chief Financial Officer and Secretary and appointed to the board of directors. Mr. Hadjiev is a young serial entrepreneur with international experience in trading, and operations.
Mr. Hadjiev intends on announcing additional board members, as well as, additional officers of the company in the coming weeks and until such time he will serve as the sole officer and director of the company
