LOS ANGELES, Dec. 13, 2017 (GLOBE NEWSWIRE) -- The Crypto Company (OTC:CRCW), one of the first publicly traded companies in the digital currencies and blockchain sector, today announced plans to execute a 10-for-1 stock split. The company’s shares, currently trading on Over-The-Counter (OTC) markets under the CRCW ticker, experienced a recent surge in value and demand, in correlation with the Q4 rise of the entire digital currency market. The Crypto Company, which went public via reverse merger in June 2017, provides investors a diversified exposure to the emerging asset class of cryptocurrencies and blockchain technologies through proprietary software, trading technology, auditing services and consulting services. The 10-for-1 stock split will automatically convert each current share of The Crypto Company’s stock into ten new shares.
CEO of The Crypto Company Mike Poutre said, “We are aware of the recent fluctuation in our stock, and want to see orderly market activity surrounding the trading of our stock. Splitting the stock will increase our float of free trading shares and is the responsible thing to do.”
Many publicly traded companies have opted to implement a stock split when share price rises sharply or when public interest reaches market peak. In 2013, MasterCard completed a 10-for-1 stock split, and Apple has implemented multiple stock splits, its most recent in 2014.
The Crypto Company’s stock split will occur in accordance with SEC rules and timeframes.
“We hope that an increased float will contribute to a more orderly and safer market for our stock and corresponding investors. All investors should be cautious when they see volatile markets such as this. We encourage everyone to be cautious and judicious when considering the purchase of our stock. There are a lot of companies taking advantage of the euphoria associated with this space, and we do not want be associated with them. We want people to pay attention to the business we are building, not the hype of a stock or the cryptocurrency world. Our hope is to show that we are responsible corporate citizens and that everything we do is in the spirit of the law and protects investors,” Poutre said.
The Crypto Company offers a portfolio of digital assets, technologies, and consulting services to the blockchain and cryptocurrency markets. The Crypto Company recently announced the impending rollout of a full scale, high frequency cryptocurrency trading floor in its California headquarters.
Shareholders will receive their nine additional shares subject to and following the requisite regulatory approvals and waiting period. The exact date will be publicly released ahead of time.
CEO of The Crypto Company Mike Poutre is available for interview
About The Crypto Company:
The Crypto Company is one of the first publicly traded technology companies in the digital currencies and blockchain sector. The Crypto Company offers a portfolio of digital assets, technologies, and consulting services to the blockchain and cryptocurrency markets. Shareholders in The Crypto Company gain diversified exposure to the exponentially growing asset class. Currently, The Crypto Company is developing proprietary technology, including trading management and auditing software, tools, and processes, to assist both traditional companies -- from start-up businesses to well-established companies -- to operate with and/or trade in cryptocurrencies.
Certain information set forth herein contains “forward-looking information”, including “future oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of shares being offered hereunder; (iii) the expected development of the Company’s business, projects and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under consideration; (vii) renewal of the Company’s current agreements; and (viii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment.
These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.
Although forward-looking statements contained herein are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Jeff Ramson / Stephanie Prince
PCG Advisory Group
Source:The Crypto Company