OLB
Group Obtains Valuation from Independent Valuation & Appraisal
Firm
NEW YORK, April
26,
2022 --
InvestorsHub NewsWire -- The
OLB Group, Inc. (NASDAQ: OLB) ("OLB", the "Company"), an emerging
FinTech company leveraging proprietary omnicommerce and blockchain
technology to build customized payment solutions today announced
that the company has received a $240 million valuation from
Corporate Valuation Advisors, Inc., an independent valuation and
appraisal firm that provides valuation advisory services and
fairness opinions to public and private companies.
OLB
engaged the firm to determine the company's fair market value and
provide a comparison to similar companies in the industries where
OLB does business.
OLB
received the valuation as of December 31, 2021, and since then has
closed its acquisition of Crowd Ignition and expanded its
cryptocurrency mining operation by securing 10,000 square feet of
leased space in Bradford, Pennsylvania.
The
valuation noted that the company increased its value in the fourth
quarter of 2021 as the result of the addition of new merchants and
the formation of several new business ventures included in the
year-end projections.
You can
find a full copy of the report at
https://olb.com/valuation-report/
Future
OLB Press Releases and Updates
Interested
investors or shareholders can be notified of future Press Releases
and Industry Updates by e-mailing investorrelations@OLB.com.
Safe
Harbor Statement
All
statements from The OLB Group, Inc. in this news release that are
not based on historical fact are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995 and the provisions of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These forward-looking statements include, but are
not limited to, statements concerning the impact of COVID-19 on our
operations and financial condition, our ability to implement our
proprietary merchant boarding and CRM system and to roll out our
Omni Commerce and SecurePay applications, including payment
methods, to our current merchants and the integration of our secure
payment gateway with our crowdfunding platform, our ability to
successfully launch a cryptocurrency mining operation and our
ability to earn revenue from the new operations. While the
Company's management has based any forward-looking statements
contained herein on its current expectations, the information on
which such expectations were based may change. These
forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of risks,
uncertainties, and other factors, many of which are outside of our
control, that could cause actual results to materially differ from
such statements. Such risks, uncertainties, and other factors
include statements regarding the expected revenue and income for
operations to be generated by The OLB Group, Inc. For other factors
that may cause our actual results to differ from those that are
expected, see the information under the caption "Risk Factors" in
the Company's most recent Form 10-K and 10-Q filings, and
amendments thereto, as well as other public filings with the SEC
since such date. The Company operates in a rapidly changing and
competitive environment, and new risks may arise. Accordingly,
investors should not place any reliance on forward-looking
statements as a prediction of actual results. The Company disclaims
any intention to, and undertakes no obligation to, update or revise
any forward-looking statement.
About
The OLB Group, Inc.
The
OLB Group, Inc. is a payment facilitator and commerce service
provider that delivers cloud-based merchant services for web-based
and brick-and-mortar organizations. OLB provides a seamless,
end-to-end digital commerce solution that includes site creation,
hosting, transaction processing and payment gateway, order
fulfillment, customer service, outbound marketing, sales reporting,
and fundraising. With services from private label shopping sites
designed to maintain the unique look or feel of the merchant
website, to order fulfillment and customer service, OLB remains
invisible to the user and promotes the merchant's brand with
market-leading technology and solutions. For more information about
solutions, services, or to find a reseller, please
visit www.olb.com.
Investor information is available at www.olb.com/investors-data.
View
source version on businesswire.com: https://www.businesswire.com/news/home/20210811005483/en/
Contacts
The
OLB Group - Investor Relations
Rick
Lutz
InvestorRelations@olb.com
(212)
278-0900 EXT: 333