Everything Blockchain Inc (EBZT)

[lesgetrich]

Uber, Facebook and Twitter received plenty of private funding from Investment Bankers before they went public. Nobody gave their shares away as a dividend. They were effectively owned by their investors before they went public. Obitx's only investor was mCig/Bots and their funding went dry after the FarmOn deal collapsed. Obitx couldn't sell shares because they weren't public and neither they nor mCig/Bots could find reliable private investors without giving away the company and significantly diluting the dividend shareholders.

Obitx was initially doing well having identified several promising revenue producing opportunities like Haultail and digital advertising. Unfortunately, without funding they couldn't invest in those opportunities and they dried up. It's now up to the new management team to start from scratch with a blank slate. We'll see in the next few months what they've come up with. Unfortunately, mid-pandemic is not the optimal time to come up with and execute a new business plan.