XTRA Bitcoin Inc (CBTC)

[surfkast]

This company has not accomplished anything since inception! Except for Paul paying himself. Plus their Bitminers are outdated.


Pink Limited Information

XTRA Bitcoin Inc as of June 25, 2019

XTRA Appoints New Securities Counsel and Achieves OTC Pink - Current
Press Release | 02/13/2020
FRUITLAND, ID / ACCESSWIRE / February 13, 2020 / XTRA BITCOIN INC. (OTCPINK:CBTC) $CBTC $xtrabitcoin.

XTRA's board retained Leonard W Burningham of Burningham Law Group as our Securities Counsel. As of February 12, 2020, XTRA Bitcoin Inc. has achieved OTC PINK - Current Information status.

XTRA Bitcoin Inc. retained attorney Leonard Burningham, Esq. of Burningham Law Group to be our Company's Securities Counsel. He provided the "Attorney Letter" to OTC Markets, Inc. after a comprehensive due diligence review of the Company. As a result, XTRA Bitcoin Inc. has successfully complied with the "OTC Pink Disclosure Guidelines," the "Stop" and "Yield" notations placed on its OTC Markets Profile have been removed, and the Company is "current" in its publicly available information requirements. With the systems in place to maintain current reporting for the future, the Company is now focused on developing its bitcoin mining operations.

XTRA Bitcoin Inc is developing a 2.5 MW phase 1 of a planned 10 MW bitcoin mining facility to deploy energy-efficient miners using the latest ASIC chip technology.

Our discussion may include predictions, estimates or other information that might be considered forward-looking. While these forward-looking statements represent our current judgment on what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this presentation. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. You should also review our most recent filings for a more particular discussion of these factors and other risks, particularly under the heading "Risk Factors".

If you would like more information about this topic, please call Paul Knudson at 1-208-630-6678, or email [e-mail]., $xtrabitcoin.com Twitter: @xtrabitcoin

SOURCE: XTRA Bitcoin Inc.

XTRA Acquires 70% of RINK, Phase 1 Mining Facility Lease and 37 new ASIC Miners
Press Release | 03/09/2020
FRUITLAND, ID / ACCESSWIRE / March 9, 2020 / On March 6, 2020, XTRA Bitcoin Inc. (OTCPINK:CBTC) entered into an agreement to acquire 70% of the RINK, phase 1 mining facility electrical capacity from Xtra Crypto Mining Inc (XCrypto) and contracted to purchase 37 new Antminer T17 55 TH/S ASIC miners. This acquisition will allow XTRA to begin mining while raising funding for its larger Wonka mine project.

The new Antminer T17s are expected to ship from Bitmain in China and arrive in late March 2020. Installation and mining are expected by middle of April 2020.

Term Day 
 Income $4.63 
 Electricity $9.24 
 Profit $-4.61

https://www.apanel.com/miners/bitmain/t17-55th/130

The RINK facility is in Manitoba, Canada. Canada's low-cost renewable hydropower and cool weather are ideally suited for bitcoin mining operations. The RINK facility is planning a 1.5MW electrical capacity upgrade that will take a year to complete. XTRA intends to acquire 70% of that capacity as part of XTRA's development pipeline.

XTRA has agreed to pay XCrypto $75,730.48 for the miners, installment and electrical distribution and to pay 70% of rent and NNN lease expenses and actual electrical usage. This $75,730.48 acquisition is financed by XCrypto at 12% over 2 years with a monthly payment of $3,564.90. The five-year RINK, phase 1 lease of $700 per month is with Protocall Technologies Inc - PCLI that has a master lease of the RINK property. Affiliated parties disclosure: The Rink property and XCrypto are owned by Paul Knudson and XTRA - CBTC and Protocall - PCLI are controlled by Paul Knudson.


XTRA Bitcoin Inc is affiliated with other companies owned or controlled by its CEO/Director Paul Knudson. These affiliated companies are: Protocall Technologies Inc, Xtra Crypto Mining Inc., The Pines Townhomes LLC, Austin Homes LLC, and North Allen Avenue LLC.

Leased facilities: Wonka #5 and Wonka #6. Each unit’s lease rate is $345/month as storage units to reserve the space
and allocation of electrical power capacity. Lease rate increases to $4,855/month NNN when the primary power is
extended to the unit by either party. As of January 1, 2020, Company obtained the right, but not the obligation, to lease
Wonka #3 and Wonka #4 by assuming each unit’s lease from The Pines Townhomes LLC at rate of $345/month as
storage units to reserve the space and allocation of electrical power capacity

The Pines Townhomes LLC, a privately held company owned by XTRA’s CEO/Director Paul Knudson, is re-purposing a
self-storage facility located in Ontario, OR, USA into a data center with 7MW of electrical capacity in phase one and an
additional 8MW in phase 2. XTRA Bitcoin Inc. has acquired 5-year leases on building space known as Wonka #5 and
Wonka #6. Each lease consists of six storage units combined into a 900 square foot unit and the right to access 1.25MW
electricity primary on site. XTRA is obligated to pay all costs to install the high-voltage primary, transformers, metering and
secondary distribution electrical systems from utility interconnect onsite to their equipment. XTRA also has a performancebased option to acquire access to an additional 7.5MW electricity for expansion at this site. Facility is inside a security
fenced property. XTRA is in the development process of raising capital to install the electrical system and to purchase
energy-efficient ASIC miners. Development is on hold as XTRA has opportunity to acquire other facilities with a lower
electricity cost.
XTRA Bitcoin Inc. – CBTC acquired 70% of RINK facility, phase 1 electrical capacity lease located in Manitoba, Canada
from Xtra Crypto Mining, Inc., a privately held corporation owned by XTRA’s CEO/Director Paul Knudson. RINK is capable
of hosting 37 T17s miners. XTRA is obligated to pay 70% of NNN expenses and $490.00 monthly rent. XTRA, also,
acquired option on 70% of an additional 1.5 MW future electrical capacity upgrade. RINK acquisition was financed by Xtra
Crypto Mining, Inc. XTRA’s 37 T17 miners have been received at the RINK facility but have not been reactivated due to
deteriorating mining economics.
XTRA Bitcoin Inc had previously arranged a 6-month hosting contract for their miners with a 3rd Party provider in
Manitoba, Canada to work around the Covid-19 travel and access restrictions that are delaying completion of RINK
facility. Mining began on December 20, 2020. Hosting continued thru October 1, 2021 when parties agreed to terminate
the contract due to the failure of 90% of the ASIC miners.

Other rent and lease arrangements
On June 1, 2019, the Company entered into 2 operating lease agreements to lease data mining centers Wonka #5
and #6, in Oregon, USA, each with access to 1 MW capacity and each lease requiring an annual lease payment of
$46,608/ year. On June 26, 2019, the terms were amended to access 1.25 MW capacity and each lease requiring an
annual lease payment of $58,260. The lease term will commence upon installation of the electrical infrastructure
and will continue for a period of 5 years. The electrical infrastructure installation and lease commencement date
were not determined as of December 31, 2021. Therefore, no lease liability or right of use assets were determined
for these leases as of December 31, 2021. For each lease the Company pays The Pines Townhomes LLC, a related
party, a monthly storage fee of $345 to reserve the leasehold until electricity is distributed to the units.

As of January 1, 2020, the Company obtained the right, with no obligation, to lease Wonka #3 and Wonka #4 data
centers by assuming each unit’s lease from The Pines Townhomes LLC, a related party. The Company rents storage
in relation to the lease at rate of $345/month, to reserve the space and allocation of electrical power capacity from
Protocall Technologies Incorporated, a related party and lessor. Rent expense amounted to $4,140 for each storage
facility in 2022 and 2021. As of January 1, 2022 the company rents shared office space for $250 per month.
Total rent expense amounted to $19,560 for the year ended December 31, 2022 and $16,560 for 2021, respectively.

The Company issued a note payable to a related party on March 6, 2020, in the amount of $75,731 mutually agreed
as non-interest bearing with a 2-year term. On June 30, 2020, the Company refunded $3,599 of the principal to the
note holder resulting in a principal balance of $72, 131. On December 16, 2020, the terms of the note were modified,
under the modified terms the principal of $72,131 bears interest at a rate of 12%, and it has a maturity date of
December 15, 2022. Proceeds from the note were used to purchase 46 miners, fittings, fixtures and electrical
infrastructure for the lease premises. Monthly payments in the amount of $3,395 are required. Total interest
expense in the year ended December 31, 2022, was $1,799 which was waived by note holder and $6,711 interest
was incurred in 2021. Note was paid in full during 2022 and has a zero balance.




2022 Total liabilities 966,791 Net Income -241,504.55

2019 Total Liabilities 508,012.78 Net Income -228,658.52


https://www.otcmarkets.com/stock/CBTC/disclosure