Bots Inc (BTZI)

[lesgetrich]

Three check cashing kiosks were purchased by First Bitcoin Capital on June 20, 2017 from Simple Automated Money, Inc. (SAMCO)...

9/30/2017 BITCF Quarterly Report

NOTE 10. PARTNERSHIP AGREEMENT

On June 20, 2017, the Company entered into a partnership agreement with Simple Automated Money, Inc. (SAMCO) in a four month trial period to measure the effectiveness of SAMCO check cashing kiosks. Additional partners include Fast Point Networking Solutions and Raley’s.

The kiosks will provide check cashing in three established locations. The Company has invested over $85,675 to purchase the Kiosks. The Company is entitled to 30% of the gross fees collected.

...The Kiosks were then sold by BITCF to Kronos on October 1, 2019...

9/20/2020 KNOS Quarterly Report

NOTE 4. ACQUSITION OF CERTAIN ASSETS

On October 1, 2019, the Company entered into an operating assets purchase agreement with the First Bitcoin Capital, LLC
(BITCF) wherein the Company acquired three check cashing kiosks operating in the United States. The purchase price for the assets
was $250,000 in the form of a convertible note payable. (See Note 6.)

...and then finally purchased by Obitx as reported yesterday.


The importance of yesterday's announcement isn't really about the kiosks themselves as there are only three of them and the revenue is not particularly significant. They were probably sold to Kronos so that BITCF could raise some cash since they don't seem to otherwise be a good fit for Kronos' business model. They do, however, seem to fit nicely into Obitx' and Bots' plans. Since Bots owns the Bitcoin ATM patent, retrofitting the Kiosks to handle cryptocurrency and cash checks without the need for a bank account gives both companies a chance to experiment, develop a synergistic relationship and build the foundation for a bitcoin ATM network. It also reveals the direction for OBTX's business model as focusing on cryptocurrency ATM and financial software deployment.