Everything Blockchain Inc (EBZT)

[lesgetrich]

There’s no current price or market lol. How do I get $5m in an unreleased coin that is worth $0

You need to read the PR's buddy. From the 7/28/21 PR...

Everything Blockchain Releases PulseChain Update from its Major Shareholder – Overwatch Partners, Inc.

Overwatch Partners, Inc. (“Overwatch”), a venture capital home office, business incubator service specializing in technology and blockchain companies, and the largest shareholder of Everything Blockchain, has recently taken the lead in the sacrifice position with more than $31 million in PulseChain, an Ethereum fork. In addition to its initial commitment, Overwatch maintains liquidity to more than double its participation in PulseChain. PulseChain is a new Blockchain-based cryptocurrency ecosystem that offers significant enhancements over the legacy Ethereum platform. With just six days remaining during the sacrifice phase of PulseChain, approximately $700 million has been committed to PulseChain with 40,000 participants. The PulseChain platform will be the largest platform launch and largest airdrop, or initial distribution, in the history of Blockchain.

The native token of PulseChain will be Pulse [Symbol: PLS] which can be bought and sold on both the Ethereum and PulseChain platforms after the sacrificial period. There is a 17-day sacrificial period, scheduled to conclude at midnight on August 2, 2021, at which time the PulseChain network will launch after a quiet period giving time for PulseChain to establish validators and distribute PLS tokens.

How do 40,000 participants commit $700 million to PulseChain if the tokens have no value???

The tokens started getting distributed on August 2, 2021. So they have been released!

Revenue is recognized by OBTX " as, we satisfy a performance obligation". Typically, this is recorded through an invoice. As long as they produced the invoice before July 31 (the end of the quarter) the revenue would be recognized as 2FQ21 revenue. Their contract could have read that when they satisfied the performance obligation (software ready to ICO) that they would receive $5 million worth of Pulse tokens or it could have just stipulated that they would receive $5 million or simply x number of tokens that happened to be worth $5 million. I suspect they took payment in tokens but however you look at it, they would have received $5 million for services not from crypto appreciation.