Efftec Fully Completes Acquisition of BitBank, a Bitcoin Market and Valuation Application for iOS
February 25 2014 - 9:20AM
Marketwired
Efftec Fully Completes Acquisition of BitBank, a Bitcoin Market and
Valuation Application for iOS
TULSA, OK--(Marketwired - Feb 25, 2014) - Efftec International,
Inc. (OTC: EFFI): The Company is pleased to announce that it has
fully completed the purchase of BitBank. Efftec now owns all the
rights and privileges associated with the application, and is
currently in the process of transferring all the associated source
code to the Company's developer account.
Upon full transfer of all coding and property, our immediate
plan is to analyze the source code to gauge the feasibility of our
intended additional development features. Upon completion of this
analysis, we plan to immediately start the ground-up improvement of
this valuable application property. As the app development market
is highly competitive, revealing the most intimate details of our
production & expansion plans for this app would leave them
exposed to imitation, we will not disclose the most extreme
particulars on a feature-by-feature basis. Our general intent is to
expand on BitBank to position it as the go-to source for
cryptocurrency information in general, speaking not just of
Bitcoin, but Litecoin, Ripple, Namecoin, and so on.
For all those who follow the cryptocurrency market as a whole,
one may recognize the 'growing pains' associated with any new or
novel technology or sector. Some can be quick to mainstream
adoption, some can require more of a proving time until the public
at large trusts and accepts them as viable. We believe that the
crypto-sector is at this point very much well-established, and has
in fact gained such widespread acceptance: in January of 2014, the
State of California has changed their banking laws to fully
legalize and allow for the functional use of cryptocurrencies in
commerce. As California often leads the United States in terms of
proactively adopting legislation to stay with the times, we believe
this to be one small step in the progression of cryptocurrencies as
a mainstream currency. Efftec intends to capitalize on the
expansion of this market in the months and years to come.
The Company will release further details on our developments in
regards to BitBank, and on other acquisitions in related sectors
which are currently under discussion and negotiation.
Source:
http://www.leginfo.ca.gov/pub/13-14/bill/asm/ab_0101-0150/ab_129_cfa_20140128_174724_asm_floor.html
Efftec International, Inc. (OTC: EFFI) is a holding company with
four operating subsidiaries. Efftec's core focus is on the
acquisition and development of proprietary technologies. The
Company is actively expanding its footprint in the technology
marketplace through acquisitions of profitable, revenue-producing
companies with proven business models.
Safe Harbor:
This Press Release may contain, among other things, certain
forward-looking statements, including, without limitation, (i)
statements with respect to the Company's plans, objectives,
expectations and intentions; and (ii) other statements identified
by words such as "may," "could," "would," "should," "believes,"
"expects," "anticipates," "estimates," "intends," "plans" or
similar expressions. These statements are based upon the current
beliefs and expectations of the Company's management and are
subject to significant risks and uncertainties. Actual results may
differ from those set forth in the forward-looking statements.
These forward-looking statements involve certain risks and
uncertainties that are subject to change based on various factors
(many of which are beyond the Company's control).
Contact: Dr. Shawn Clinton CEO staff@efftec.com www.efftec.com
866-601-2639