Bullet Blockchain Inc (BULT)

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$BULT Bullet Blockchain Announces Plans to Uplist BULT’s Common Stock

https://www.globenewswire.com/news-release/2023/10/19/2763255/0/en/Bullet-Blockchain-Announces-Plans-to-Uplist-BULT-s-Common-Stock.html

RENO, NV, Oct. 19, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -?Bullet Blockchain, Inc. (“BULT” or the “Company”) (OTC: BULT), a pioneering software development and SaaS company at the forefront of blockchain technologies and Web 3.0, is pleased to announce the appointment of the Elkana Amitai CPA firm, a Public Company Accounting Oversight Board (PCAOB) auditor, to oversee the Company's financial reporting and compliance efforts as the Company prepares for uplisting its common stock (OTC: BULT:) to the OTCQB market.

The retention of a PCAOB auditor is another strategic move that reinforces the Company’s commitment to transparency, accountability, and maintaining the highest standards of corporate governance. As the company continues to expand and strengthen its presence in the blockchain and Bitcoin ATM industry, the engagement of a PCAOB auditor demonstrates the Company’s dedication to upholding the highest level of financial integrity.

The Company recognizes the significance of robust financial oversight in today's dynamic business environment. By enlisting the services of the Elkana Amitai CPA firm and their experience in PCAOB accounting, the company aims to ensure that its financial statements accurately reflect its operations and strengthening financial position. This appointment underscores the Company’s efforts to maintain trust among its stakeholders, including investors, shareholders, and regulatory bodies.

In addition to this important appointment, BULT is also excited to announce its plans to uplist its common stock to the OTCQB market. This transition reflects the Company’s strengthening financial position, growth prospects, and commitment to providing investors with increased liquidity and transparency. The move to the OTCQB market will enable a broader audience of investors to participate in BULT’s success and growth story.

The Company remains dedicated to its mission of developing innovative blockchain technologies for the Bitcoin ATM industry, and these developments signify its ongoing commitment to excellence and financial transparency. The Company looks forward to a productive partnership with the Elkana Amitai CPA firm and the opportunities that uplisting to the OTCQB market will provide to our stakeholders.”

As previously announced, BULT acquired First Bitcoin Capital LLC, which owned an intellectual property portfolio consisting of the rights to two Bitcoin ATM patents. By virtue of its subsidiary First Bitcoin Capital LLC, BULT’s intellectual property includes US Patent Nos. US9135787B1 “Bitcoin kiosk/ATM device and system integrating enrollment protocol and method of using the same” (US9135787B1) and US10332205B1 “Bitcoin kiosk/ATM device and system and method of using the same” (US10332205B1) which are extant. The combined patents acquired by BULT are critical for Bitcoin ATM networks to operate. BULT plans to introduce several licensing programs for Bitcoin ATM manufacturers, which will include a per-transaction licensing fee, revenue share, or partner program with Bitcoin ATM owner-operators. As previously announced, BULT has retained counsel to target unlicensed Bitcoin ATM operators and manufacturers.

Bitcoin ATMs are becoming increasingly popular, as they offer a convenient way for people to access the Bitcoin market. Bitcoin ATMs allow users to conveniently buy and sell Bitcoin for cash using a free-standing kiosk similar in size to a traditional ATM machine. As the adoption of cryptocurrencies continues to rise, the future of Bitcoin ATMs in the United States appears promising. As such, BULT seeks to bring this growing industry into compliance with, and to cease violating, BULT’s intellectual property.