TEL AVIV, ISRAEL / ACCESSWIRE / December 19, 2019 / FIRST BITCOIN CAPITAL CORP (OTC PINK:BITCF) ("the Company") is pleased to announce that it has released its financial results for the 9 months ending September 30 2019.
For the nine months ending September 30 2019, First Bitcoin's assets, compared to the year ending 2018, increased from US$365,352 to $660,313. Also in 2019 asset gains were partially a result of exchanging, for preferred convertible shares, 1,000,000,000 of the Company's mineable cryptocurrency First Bitcoin (COIN:BIT) which coin's history of trading can be followed via coinmarketcap.com
The majority of our cryptocurrency assets are not reflected as showing any value on our balance sheet due to reporting those assets at our zero cost basis, as to the Company having been the generator of those assets. We also show no value on our balance sheet to the US$1,000,000 convertible note receivable that we exchange for 600,000,000 BITs since it is convertible into a thinly traded sub penny stock.
Liabilities decreased from US$258,597 to $145,423.
First Bitcoin has endeavoured to complete its nine months of unaudited financial statements with the intention to list on the CSE and resume trading on a higher market in the USA which we anticipate accomplishing soon after our form 20-F is filed in the USA and Canada.
Our audited and unaudited financial statements can be viewed here: https://firstbitcoin.io/investors/
About First Bitcoin Capital Corp
First Bitcoin Capital Corp (OTC Expert Market:BITCF) began developing digital currencies, proprietary blockchain technologies, and the digital currency exchange - www.CoinQX.com (in Beta) in early 2014. We saw this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex blockchain technologies and in developing new types of digital assets. Being the first publicly traded cryptocurrency and blockchain-centered company, we provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies.
The Company began developing its own blockchain and cryptocurrency called First Bitcoin (COIN: BIT) in 2016. Recently the Company updated the BIT wallet and added more functionality. Users are able to generate BIT through the processes of POW and POS mining. The First Bitcoin cryptocurrency has a current supply of 20,707,629,255 BIT. It is currently trading on LIVECOIN.net
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Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's website and filings.
SOURCE: First Bitcoin Capital Corp.