I appreciate skepticism as I think it creates a healthy discourse (mostly). I did a fair amount of DD before investing regarding whether the company has both 500+ Bitcoin and a legitimate mining operation. I am convinced that the company has represented fairly convincingly that it has at least 513 BTC. In addition to the 2019 financials, albeit unaudited and a year old, referencing the BTC holdings, the company tweeted on 2/12/2021 that Fortune published that it had 513 BTC and specifically stated in the tweet: “CCTL is mentioned in Fortune article on Public Companies with Bitcoin Holdings. CCTL might be the smallest company, but its still in the game. We were also the earliest! (Fortune did reach out to Coin Citadel to verify Bitcoin Holdings).” Note the last sentence. The company’s public statement on Twitter, read in conjunction with the financials, makes it absolute that the company is representing that it holds at least 513 BTC. Otherwise, the CEO,Tom Pillsworth, who signed the financials and likely controls the content on the Twitter account, would expose himself to personal liability for fraud. I doubt he would risk being sued by a bunch of duped investors so I’m betting that he’s honestly reporting (or hopefully under reporting) the BTC holdings.
Also, regarding the mining operation, I do not think a legitimate hardware company like 2CRSi would sell CCTL nearly $6,000,000 in mining equipment without upfront payment or collateral. Based on that, I am comfortable that CCTL has assets, seemingly the 500+ BTM, to allow it to make such a large capital investment.
These are just my thoughts. Do your own DD and invest if you think it’s appropriate. I’m long though!!! JFab
