OLB Group Inc (OLB)

[Prudent Capitalist]

OLB Group Announces Insider Stock Purchases Totaling 114,143 Shares and Corporate Stock Buyback of 116,172 Shares

11:35 am ET December 21, 2022 (Accesswire)

NEW YORK, NY / ACCESSWIRE / December 21, 2022 / The OLB Group, Inc., (NASDAQ:OLB), a diversified Fintech eCommerce merchant services provider and Bitcoin mining enterprise, announced today that senior management, including the OLB's Chairman & CEO, Ronny Yakov and Patrick Smith, Vice President of Finance, collectively purchased 114,143 shares of OLB between since December 1, 2022 in open-market transactions and each currently has plans to continue to add to their positions periodically. In addition, as of December 20, 2022, the Company has purchased 116,272shares under the Company's previously announced stock buyback program to reduce its shares outstanding count by 1,000,000 shares.

Ronny Yakov, CEO of OLB, said, "As we previously announced, our Board of Directors has authorized a stock buyback to buy our common stock from time to time as market conditions warrant to reduce our shares outstanding at historically low valuations. Considering OLB's current market cap is only about $13 million with our Year over Year revenue growth approaching 100% to a revenue projection of over $31 million for 2022, Patrick and I have decided to purchase shares personally when permitted as we believe the trading price does not reflect the value of the shares."