First Bitcoin Capital Corp (BITCF)

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A company never pays to become fully reporting unless there is a reason for the future. It is not because they expect tto be NO future.




PCAOB Auditor of First Bitcoin Capital Corp (BITCF) Completes Audits for 2018

Clears Way for Listing on Canadian Stock Exchange and Relisting on Higher US Market

ACCESSWIRE ACCESSWIRESeptember 12, 2019

TEL AVIV, ISRAEL / ACCESSWIRE / September 12, 2019 / FIRST BITCOIN CAPITAL CORP (OTC PINK: BITCF) ("the Company") a prolific generator of more than 100 unique cryptocurrencies and developer of blockchain-powered technologies announced today that it has completed its audited financial statements for the fiscal year ending December 31, 2018. An independent auditor (which is a PCAOB registered accounting firm) completed the audits of the Company's financial statements within the guidelines of Canadian Generally Accepted Accounting Principles (GAAP) as well as our consolidated financial statements having been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”).

This is a significant step in additional transparency for the Company’s shareholders and we are taking the necessary steps to file an application to become listed on the Canada Stock Exchange (CSE).

“We are excited to move forward with the completion of our audits covering 2016 through 2018,” said Greg Rubin CEO of BITCF. “We anticipate that the completion of the latest audit will also accelerate our efforts towards the Company becoming a fully reporting company with the US and Canadian securities regulators.”

Due to Canadian GAAP and IFRS standards, it was required that First Bitcoin write down its assets considerably as well as booking of certain assets at nil or zero value based on historic costs and lack of those assets generating cash revenues. However, the company’s gross income increased substantially and losses decreased significantly from .008 to .001 per share from the years ending 2017 and 2018 respectively.

The financial results can be viewed at: https://firstbitcoin.io/wp-content/uploads/2019/09/2018-Audited-Annual-Report.pdf

Management’s Discussion and Analysis can be read here: https://firstbitcoin.io/wp-content/uploads/2019/09/2018-Management-Discussion-and-Analysis.pdf