BitFrontier
Capital Holdings, Inc. (OTC PINK: BFCH) Retains Special
Counsel to Cancel over 12 Billion Shares of the Company's Common
Stock and Provides an update on the Construction of its
Cryptocurrency Mining Facilities
FREDERICKSBURG,
VA. --
August 7,
2018 -- InvestorsHub
NewsWire
--
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.
BitFrontier
Capital
Holdings Investor Relations
540-736-3069
IR@bitfrontiercapitalholdings.com