A growing number of publicly traded companies are making big moves to join the cryptocurrency and blockchain technology frenzy. A few companies are even putting current business operations on the back burner while reorganizing to take advantage of emerging opportunities in the most disruptive, hottest sector to pop up in some time. This rapidly growing phenomenon signals opportunity and for some, a risk for capital seeking exposure to blockchain’s volatile shift into the mainstream across a growing list of industries. Technology moves so rapidly that new approaches or ideas can emerge – and fade – within short timescales. Blockchain could disrupt whole industries, by changing how trading is carried out and how transactions are processed and cleared and is being hailed as one of the most revolutionary and disruptive technological advances of today. Active Companies in the markets this week include: Mansfield-Martin Exploration Mining, Inc. (OTC: MCPI), Long Blockchain Corp. (NASDAQ: LTEA), Glance Technologies Inc. (CSE: GET) (OTC: GLNNF), MGT Capital Investments, Inc. (OTC: MGTI), Overstock.com, Inc. (NASDAQ: OSTK).
Mansfield-Martin Exploration Mining, Inc. (OTC: MCPI) announced today that it has expanded its preliminary arrangement with Qu Ltd. Mansfield-Martin previously agreed to provide up to 5 million oz. silver doré to Qu, Ltd. to support the Silverback ICO. Joint Venture owners in the Mine Run Program will now have the option of taking returns in Silverbacks, Qu Ltd.’s current ICO, as well as doré or US currency.
The Silverback is a cooperative decentralized crypto coin running on the Ethereum block chain. Qu Ltd. will offer 5,000,000 coins, each backed by 1 oz. of .999 silver. Pricing for Silverbacks will be exclusively in Ether, and set at a sliding discount to spot silver pricing: 50% over the first 10 days; 25% over the second 10 days; 10 % over the third 10 days; and 5% over the fourth 10 days. The ICO has a term of 60 days; thereafter, Silverbacks will be priced by traditional auction/bid-ask methods. If less than 75% of the Silverbacks are purchased, all funds will be returned to subscribers. Read this and more news for Mansfield-Martin Exploration at: http://www.marketnewsupdates.com/news/mcpi.html
Mansfield-Martin’s Mine Run Program covers processing of approximately 165,000 tons of previously mined and unprocessed materials on four historic mine sites in the Tombstone Mining District. Preliminary estimates are for upwards of $55 million in silver, gold and other metals to be produced from these deposits. The company anticipates delivery of its portion of the silver production to Qu, Ltd. in accordance with the parties’ streaming agreement, with a portion of the payment in Silverbacks. The other parties in the joint venture can now elect the same crypto-currency payment option.
In other industry developments from around the markets:
Long Blockchain Corp. (NASDAQ: LTEA) yesterday announced the appointment of Shamyl Malik, Global Head of Trading at Voltaire Capital, and Som Ghosh, a technology entrepreneur with experience in Blockchain technology, to its Board of Directors (the “Board”). These appointments are nominees of the lender in the Company’s recently announced convertible debt facility and are consistent with the Company’s previously announced plan to shift its primary corporate focus towards Blockchain technology. Both Mr. Malik and Mr. Ghosh are deemed to be independent directors under the NASDAQ listing rules. Philip Thomas, Chief Executive Officer of the Company, commented, “We are thrilled to have Shamyl and Som join the Board during this exciting period of growth and evolution. They bring a wealth of experience and knowledge in the financial technology sector, and we are confident that they will help to shape the future of the Company as it pivots into Blockchain technology.”
Glance Technologies Inc. (CSE: GET.CN) (OTCQB: GLNNF) has reached another milestone: Since Glance launched the current version of its proprietary fraud-prevention technology more than one year ago, its platform has experienced zero fraud across all of its live locations and all Glance Pay Anywhere remote payments. Glance intends to apply elements of its fraud-prevention technology to its upcoming rewards and loyalty-based cryptocurrency platform. “We firmly believe that both traditional and cryptocurrency payments will largely be done via mobile devices,” said Glance chief executive officer, Desmond Griffin. “Payment fraud is a significant problem for anyone accepting payments and we believe it is currently a barrier to the adoption of cryptocurrencies. Thus we believe that platforms which can reduce or eliminate fraud will be best positioned to succeed in the long run.”
UAHC Ventures, LLC, a wholly-owned subsidiary of United American Healthcare Corporation, executed a Settlement Agreement on December 7, 2017 by and between UAHC Ventures and MGT Capital Investments, Inc. (OTCQB: MGTI) to resolve certain disputes that arose between UAHC Ventures and MGTI related to that certain Secured Convertible Promissory Note dated August 18, 2017 issued by MGTI to UAHC Ventures in the original principal amount of $2,410,000.00 and that certain Warrant to Purchase Shares of Common Stock purchased from MGTI by UAHC Ventures pursuant to that certain Securities Purchase Agreement dated August 18, 2017. Read the entire announcement here. With facilities in WA state and Sweden, MGT Capital Investments, Inc. ranks as one of the largest global Bitcoin miners. Further, the Company continues to exercise a disciplined expansion strategy to grow its crypto assets materially.
Overstock.com, Inc. (NASDAQ: OSTK) closed up over 10% on Wednesday trading over 4.4 Million shares by the market close and was further up over 2% in afterhours trading. Blockchain leader Bitt recently launched its new mMoney digital payment product in Barbados. The Barbados Entrepreneurship Foundation (BEF) and several of its strategic partners participated in the soft launch, which marked the region’s first “digital dollar only” event. Overstock.com’s (OSTK) blockchain investment vehicle Medici Ventures owns stock and options on 34.8 percent of Bitt. Under the mMoney brand, Bitt is bringing to market a blockchain-based mobile wallet that allows users to participate in digital transactions on their smartphones from a secure account. The accounts will be 100 percent backed by segregated funds in appropriate currencies in Bitt’s custody. “mMoney is mobile money.
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