VANCOUVER, BC and BOULDER, CO / ACCESSWIRE / December 2, 2020 / Intellabridge Technology Corporation (CSE:INTL)(OTCQB:CRBTF)(FRA:98AA), a blockchain technology company, is pleased to provide a corporate update summarizing the Company's current corporate plans.
The Company has had a challenging year, as described in the most recent Management Discussion & Analysis (MD&A) released on Monday November 30th, given the global pandemic, which has adversely affected the Company's business. In order to attempt to mitigate these effects on the Company and align Company expenditures with the reduction in demand and revenues, Intellabridge has been working to restructure the team to provide remote services as needed based on client demand.
The Company also has been exploring new opportunities in the blockchain and decentralized financial ("DeFi") technology sector based on its experience and past work on products in blockchain, including its proprietary decentralized exchange.
DeFi is blockchain infrastructure that aims to decentralize the traditional financial industry, such as wealth management, trading, lending, investments, payments, remittance and insurance in a way that creates more accessible financial services. According to media reports, DeFi has become a growing topic in the blockchain community, and has grown in total value locked (TVL) from $675 million USD in January 2020 to more than $14 billion USD recently.
Furthermore, the Company has been exploring, under the SEC's "Test-the-Waters" Rule, the feasibility of raising capital through a Regulation A offering to fund new opportunities in the DeFi sector. The Test-the-Waters Rule allows issuers to gauge market interest in a possible offering prior to the filing of a registration statement. The Company has not made a decision about whether or not to move forward on a Regulation A offering and has not determined whether or not such an offering is feasible.
The Company will be making further announcements in the near future to update investors on its strategic plan, product developments, and Regulation A offering.
About Intellabridge Technology Corporation
Intellabridge Technology Corporation (CSE: INTL) (OTCQB: CRBTF) (FRA: 98AA) is a technology company developing blockchain solutions for a variety of sectors including fintech, decentralized finance (DeFi), self-sovereign identity, electoral systems, supply-chain management and advertising. For more information, visit www.intellabridge.com.
ON BEHALF OF THE BOARD of DIRECTORS
INTELLABRIDGE TECHNOLOGY CORPORATION
Maria Eagleton, COO
To contact Intellabridge:
The CSE does not accept responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of any of the word "will" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.
SOURCE: Intellabridge Technology Corporation