Fredericksburg, VA, May 31, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — BitFrontier Capital Holdings, Inc. (OTC: BFCH) announced today that it won its court case to cancel approximately 99% of its issued and outstanding shares of Common Stock.
On May 30, 2019 in the district court of Laramie, Wyoming, the following shares were deemed to have been improperly and illegally issued and the court has ordered them to be cancelled:
- Claremont Group Corp. – 2,000,000,000 (2 Billion) shares of Common Stock;
- Claremont Group Corp. – 10,000,000 (10 Million) shares of Series B Preferred Stock;
- Fordee CA Trust – 120,000,000 (120 Million) shares of Common Stock;
- Fordee CA Trust – 2,000,000 (2 Million) shares of Series B Preferred Stock;
- Market Awareness Corp. – 140,000,000 (140 Million) shares of Common Stock;
- Market Awareness Corp. – 2,000,000 (2 Million) shares of Series B Preferred Stock;
- Daryl English – 5,000,000,000 (5 Billion) shares of Common Stock;
- Daryl English – 1 share of Series A Preferred Stock;
- JA Maurice Swanson – 5,000,000,000 (5 Billion) shares of Common Stock;
- JA Maurice Swanson – 1 share of Series A Preferred Stock; and
- Any shares that have been converted from any of the above listed shares into any other type of shares in BitFrontier Capital Holdings, Inc.
The shares above total 12,260,000,000 (12.26 Billion) shares of Common Stock, 2 shares of Series A Preferred Stock, and 14,000,000 (14 Million) shares of Preferred B Stock, making up almost 99% of BitFrontier’s issued and outstanding shares of Common Stock, and 100% of the issued and outstanding Series A Preferred Stock and Series B Preferred Stock classes.
The Company sent the signed court order to Pacific Stock Transfer to formally cancel these shares. The Company profile on OTC Markets will be updated with the new share structure in the coming days. Once the transfer agent has processed the cancellation of these shares, the Company will be able to further enhance its share structure with a substantial authorized share reduction.
Shareholders interested in viewing the signed court order authorizing the cancellation of these shares can do so on the Company’s OTC Markets page.
BitFrontier CEO, Spencer Payne, commented, “On behalf of the entire dedicated team here at BitFrontier, I wish to thank our tremendously committed shareholder base for staying with us throughout this complex process. I would also like to thank our talented team of attorneys at Hathaway & Kunz LLP for all the work they have contributed to this process. It’s been quite an adventure, but the payoff is finally here.”
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.
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