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BITCF and KNOS are most def connected

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nodummy   Friday, 05/22/20 07:25:02 PM
Re: samsamsamiam post# 22921
Post # of 30649 
BITCF and KNOS are most def connected

On December 31, 2019, BITCF transferred 600 million BIT tokens, a digital currency, to KNOS in exchange for a $1,000,000 debt Note owed to BITCF by KNOS. It is confirmed in filings made by both companies.

KNOS filing (see page 5)

https://backend.otcmarkets.com/otcapi/company/financial-report/240225/content



BITCF filing (see pages F-15 and F-72)

https://www.otcmarkets.com/filing/html?id=13835398&guid=NPIHUK9-QPwku3h



So how much are those 600 million BIT tokens worth?

Well KNOS values them at $1,000,000 on its balance sheet which is the price they paid for the tokens, but GAAP accounting doesn't allow for it to be valued that way. The actual value would be based on what the security is worth. BitTokens currently sell at $.00002615 each so 600,000,000 of them is worth $15,684.

https://www.coingecko.com/en/coins/bitrewards-token

Even back on December 30, 2018 when they were "sold" to KNOS they were only worth $.00052509 each for a total of $315,054.

So BITCF got the better end of that deal.

(if that's the wrong currency please let me know the correct one)


As of September 30, 2019 (the last date BITFC reported financials), BITCF only showed $13,187 in digital currencies left on its balance sheet.




So why did BITCF give KNOS such a good deal? Well that's simple.

BITCF got suspended by the SEC for on August 23, 2017

https://www.sec.gov/litigation/suspensions/2017/34-81474.pdf

Quote:
"because of concerns regarding the accuracy and adequacy of publicly available information about the company including, among other things, the value of BITCF’s assets and its capital structure,"



The BITCF insiders probably understood that the BITCF offered very little value at that point so they eventually started looking for ways to monetize their assets.


KNOS was led by a guy named Marc Kloner from Woodland Hills, California, the same hometown of BITCF's control person, Greg Rubin (aka Greg Rubinov).

And eventually whatever relationship Kloner and Rubin developed that led to the sale of the BIT tokens led to much more.

The connections between KNOS and BITCF would become much deeper starting in late 2019.

On October 1, 2019, BITCF loaned KNOS $250,000 (see the first image above).

Around the same time, the Chairman of BITCF, Vyacheslav Abramov, became the new Chairman of KNOS and Micheal Rubinov (related to Greg Rubin - control person of BITCF) became the new president of KNOS.

https://backend.otcmarkets.com/otcapi/company/financial-report/240225/content



The CFO of BITCF, Michael Handelman, became the new accountant for Kronos

https://www.otcmarkets.com/stock/KNOS/profile



KNOS also moved its corporate address next door to a Dentist Office where Greg Rubin worked for many years in Calabasas, CA.



https://www.calabasasdentalinstitute.com/dentist-in-calabasas/



https://web.archive.org/web/20140119144621/http://calabasasdentalinstitute.com/greg-rubin-dds/





For the record, BITCF also has very small associations with SING, REFG, PQEFF, and DATI in the form of nominal share ownership in those Issuers due to arrangements involving some kind of WEED token and the sale of other tokens, but nothing like how the BITCF crew basically took over KNOS.



So why does it matter that the BITCF crew has such a big presence now in KNOS?

Well for starters, the $1,250,000 in toxic debt will lead to dilution when it is converted into discounted free trading stock.

But more so because of the bad history of BITCF which goes much deeper than just an SEC suspension.

Read an indepth history at the following link:

https://web.archive.org/web/20140116031348/http://www.pumpsanddumps.com/2014/01/bitcon-bitc-is-destined-to-defraud.html

For better or worse, KNOS has basically become the new BITCF.


Good luck with those old portable air purifier systems

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=155794471

KNOS made a whopping $3,000 in 2019 so that's not exactly a great start.




And good luck with Kevin Harrington. He has a notably bad history with other penny stocks:

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=155738012











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