FREDERICKSBURG, Va., Aug. 07, 2018 (GLOBE NEWSWIRE) — via OTC PR WIRE — BitFrontier Capital Holdings, Inc. (OTC PINK: BFCH) is pleased to announce it has retained special counsel to assist the company in canceling 12,260,000,000 shares of the Company’s Common Stock making up almost 99% of the Company’s issued and outstanding shares of Common Stock along with several classes of Preferred Stock.
Since our initial investigation into these improperly issued shares by former management, we have identified several hundred million more shares of Common Stock along with several classes of Preferred Stock held by 3 more individuals/companies that were involved in the same transaction with former management that will also be named in the complaint.
The Company, through its retained special counsel, will be filing with the courts, a Complaint for Declaratory Judgment to formally cancel these improperly issued shares consisting of 12,260,000,000 shares of the Company’s Common Stock and several classes of Preferred Stock for fraud or want of consideration. We expect to file this complaint very soon and will keep our shareholders updated once it is formally filed.
The Company is also finalizing the two quarterly reports for the periods ending March 31, 2018 and June 30, 2018 to regain its “Pink Current” status with OTC Markets.
In addition, demolition is continuing on the recently leased property to prepare it for construction of our first cryptocurrency mining facility. Once demolition is complete, construction can begin with the first 7500 sq. foot concrete slab being poured, followed by the assembly of our first warehouse. We have posted several pictures on the Company’s twitter account and will continue to document the buildout process.
Our twitter account can be found at the following URL: https://twitter.com/BitFrontierInc
About BitFrontier Capital Holdings, Inc.
BitFrontier Capital Holdings business plan is to concentrate on cryptocurrency related investments and development opportunities through cryptocurrency mining, investments in private and/or public entities, joint ventures and acquisitions of blockchain related companies. BitFrontier Capital Holdings has two wholly owned operating subsidiaries, BitFrontier Capital Investments, Inc. and BitFrontier Technologies, Inc. Through the Company’s wholly owned subsidiary, BitFrontier Technologies, Inc., the Company plans to build a warehouse specifically designed for hosting cryptocurrency mining equipment. Cryptocurrency mining (e.g. bitcoin mining) entails running ASIC (application-specific integrated circuit) servers or other specialized servers which solve a set of prescribed complex mathematical calculations in order to add a block to a blockchain and thereby confirm digital asset transactions. A party which is successful in adding a block to the blockchain is awarded a fixed number of digital assets in return.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company’s reports and filings at https://www.otcmarkets.com/
Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.
Disclaimer:
Spotlight Growth is compensated, either directly or via a third party, to provide investor relations services for its clients. Spotlight Growth creates exposure for companies through a customized marketing strategy, including design of promotional material, the drafting and editing of press releases and media placement.
All information on featured companies is provided by the companies profiled, or is available from public sources. Spotlight Growth and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. The information contained herein is based on external sources that Spotlight Growth believes to be reliable, but its accuracy is not guaranteed. Spotlight Growth may create reports and content that has been compensated by a company or third-parties, or for purposes of self-marketing. Spotlight Growth was compensated four thousand dollars worth of restricted common stock for the creation and dissemination of this content.
This material does not represent an investment solicitation. Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company’s plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management.
The above communication, the attachments and external Internet links provided are intended for informational purposes only and are not to be interpreted by the recipient as a solicitation to participate in securities offerings. Investments referenced may not be suitable for all investors and may not be permissible in certain jurisdictions.
Spotlight Growth and its affiliates, officers, directors, and employees may have bought or sold or may buy or sell shares in the companies discussed herein, which may be acquired prior, during or after the publication of these marketing materials. Spotlight Growth, its affiliates, officers, directors, and employees may sell the stock of said companies at any time and may profit in the event those shares rise in value. For more information on our disclosures, please visit: https://spotlightgrowth.com//disclosures/
