February 04, 2019 (ACCESSWIRE via COMTEX) -- SPRING, TX / ACCESSWIRE / February 4, 2019 / Nicolo' Golia Bedendo, Chief Executive Officer of Texhoma Energy, Inc. ("Texhoma") (otc pink:TXHE) today announces that the Company concluded negotiations to cancel convertible promissory notes issued by the Company in the principal amount of $158,926 along with accrued interest of $65,095 effective December 31, 2018 for a total of $ 224,021. This cancellation relates to the new issuance to a third party of a note payable with a term of two years, in the principal amount of $178,000, no conversion features, bearing interest of 5%. This restructuring of debt creates a non-recurring gain from this transaction for the Company of $46,021 in the quarter ended December 31, 2018. Additionally, Texhoma announces earnings of $91,626 for the fiscal year ended September 30, 2018.
In November 2018, the Company registered a tradename in the State of Texas to operate as NewEra Blockchain Solutions, operating blockchain farms to power the global decentralized financial economy. In this regard, Texhoma has formed a subsidiary, RE-Mining Corp ("RE-Mining"), a Delaware corporation, RE-Mining will operate blockchain farms that provide computing power to cryptocurrency networks by farming tokens where the operative benefit is based upon energy savings that are ecologically friendly through the use of renewable energy sources. NewEra Blockchain Solutions: http://nebs.io/
Blockchain technology is not disappearing. It's just getting started. I doing my Master's in Cybersecurity and blockchain is studied in every class. It has many more applications than just cryptocurrency. The farms need an enormous amount of computing power so if TXHE can provide cost efficiency to these companies, I see it as a lucrative business.
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