Coin Citadel (CCTL)

[I-Glow]

More Pillsworth pumping - in the Q3 2023:

"Intangibles, crypto currency - $11,856.

And according to the 2023 Q3 the value of the Bitcoin is $11,856 that is $2,964 for each Bitcoin but the price of Bitcoin as of September 30, 2023, Bitcoin's (BTC) closing price was $26,967.92.

What equipment is Pillsworth using to mine Bitcoin - we know the 2CRSi equipment doesn't exist.

The S19 equipment that Pillsworth stated they owned 1000 S19 miners nut they are so outdated that they mine for a loss.

Pillsworth states - "Cost of Revenue

The Company’s cost of revenue consists primarily of direct costs of earning bitcoin related to mining
operations, including mining pool fees, electric power costs, other utilities, but excluding depreciation and amortization, which are separately stated in the Company’s statements of operations."

But Pillsworth doesn't include any COGS and there isn't any electric power costs listed.

Mining Equipment $41,024
Less: Accumulated Depreciation (41,024)
So the mining equipment has no value as they have been fully depreciated.

The much awaited Halving - actually increases the mining difficulty.

"Bitcoin Halving Is Poised to Unleash Darwinism on Miners
Strong miners might be about to eat the weak ones as the reward for mining BTC gets cut in half, experts say.

Darwinism could soon pummel some bitcoin (BTC) miners as the halving, a once-every-four-year event that cuts the reward for creating new BTC gets cut by 50%, unleashes a "survival of the fittest" battle in April.

To prepare for the disruptive event, larger companies are securing newer and more-efficient mining machines."

CCTL doesn't have anything that a larger miner would want - so the end of CCTL is near - especially since Pillsworth can't get the CE removed. Plus, they need to file a 15c which Pillsworth stated was filed in February 2023.

I am still amazed that a few are excited about Bitcoin halving.

IG