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Thursday, October 6, 2022

Fernhill Corp (OTCMKTS: FERN) On a Tear Northbound After Crypto Operator Reserves “FERN” Ticker Symbol (More on: NFT Marketplace MainBloq, PerfectMine Acquisitions)

Fernhill Corp (OTCMKTS: FERN) is on a tear northbound after the Company announced it has received notification from NASDAQ’s symbol reservation department stating, “Your request to reserve the ticker symbol ‘FERN’, for Fernhill Corp., Inc. has been approved.” Earlier this week Fernhill formally submitted an application the NASDAQ Capital Market Exchange. We reported on the Company as they became “pink current” and management continues to work hard behind the scenes with PCAOB Auditor – Hudgens CPA, PLLC. to become a SEC filer and attain full OTCQB status. 

We last reported on FERN at the end of March stating at the time: “The timing could not be better for FERN as the Company readies the launch of its new NFT Marketplace, which represents step 3 of 4 in Fernhill’s process in creating its Digital Asset Ecosystem having already set up Mining and Trading with Minting being next up through its NFT Marketplace. FERN is looking to go fully reporting OTCQB and become an SEC filer recently hiring PCAOB Auditor – Hudgens CPA, PLLC. FERN Management views becoming a fully reporting, audited company is an important upcoming milestone in the Company’s ongoing road map to success.” 

Fernhill Corp is a developer and acquirer of high-performance proprietary software solutions focused on crypto currency mining, digital asset trading and infrastructure applications that are designed to simplify, optimize and automate the blockchain ecosystem, including Mining, Minting, Trading and DeFi. Fernhill is a Signatory Member of the Crypto Climate Accord (CCA).  The Company has been beefing up its BOD recently appointing Chris Dey to its Advisory Board, as well as offering him one of seven seats on Fernhill’s upcoming NFT Xchange.

On July 27 several days after our first report on the Company when the stock was in the $0.02 range FERN announced the Acquisition of PerfectMine, a fully operational turn-key platform that provides optimized operating systems for a wide variety of GPU and CPU mining rigs to improve efficiency as well as remotely monitor and manage them.   PerfectMine.io, delivered as software as a service (“SaaS”), provides optimized mining operating systems and algorithms, supports multiple cryptocurrencies and tokens such as Ethereum, LiteCoin, Monero and RavenCoin, and has the unique capability to support Multi-Card functionality that can run both Nvidia and AMD GPUs simultaneously, which is not commonly found in the industry. 

In a recent update to shareholders Management summarized Fernhill’s accomplishments over the past year:

  • Attained Pink Current Status with OTC Markets
  • Launched a new Corporate Website
  • Announced Plans to be up-listed to a Senior Exchange
  • Became a Member of Crypto Climate Accord (CCA)
  • Acquired Crypto Mining OS Platform – PerfectMine
  • Appointed Nathanel Coonrod as EVP of Engineering
    Relaunched PerfectMine
  • Acquired Digital Asset Trading Platform – MainBloq
  • Expanded Executive team and Board of Directors (Chris Kern & Peter Bordes)
    MainBloq completed its integration with FTX
  • Engaged Maxim Group, a leading Investment Bank
  • MainBloq signs with Global Hedge Fund – Corinthian Digital Asset Management
  • MainBloq completes integration with CoinBase Prime
    Fernhill participates in M-Vest’s Block Chain Conference
  • Announced development of a New NFT Marketplace
    Appointed Chris Dey to its Advisory Board
  • MainBloq announced new technology to support Sub-Accounts for Exchanges
    Currently in advanced discussions with several institutions and Family Offices for growth capital
  • Effective with the SEC for its Regulation A financing which allows Fernhill to raise up to $20M
  • Engaged a PCAOB auditor to begin the process of becoming fully reporting with the SEC.

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The acquisition of Perfectmine was followed by the acquisition of MainBloq, a digital asset connectivity platform that is integrated with leading exchanges to serve the needs of institutional clients around the world. MainBloq offers a modular platform including a smart order router, suite of execution algorithms, FIX / SOCKETS / REST gateway, and consulting services to help banks and hedge funds execute on their trading strategies. MainBloq continues to make big moves launching enterprise-grade, widely-requested features since being integrated with FTX; the fourth-largest digital assets exchange in the U.S. Fresh off of January’s FTX and Coinbase Prime integrations, MainBloq is now launching support for Sub-Account Trading an option not supported by most exchanges. They also recently signed an LOI to provide Corinthian with algorithmic digital asset trading services.

Fernhill reaffirmed its previously stated goals and objectives for 2022 and includes the following updated roadmap: 

  • Complete the audits of Fernhill and MainBloq to become fully reporting with the SEC 
  • MainBloq to sign several new financial institution clients 
  • Expand our development team to support our growth 
  • MainBloq to release new platform capabilities and updates 
  • Launch our NFT marketplace of highly curated collections from vetted influencers and creators 
  • Enter the DeFi Space with Staking, Liquidity Pools and Gaming 
  • Launch PerfectMine 3.0 to include Staking and ASIC mining 
  • Launch multi-channel marketing campaigns for MainBloq and PerfectMine 
  • Add new Advisors and outside Board Members 
  • Complete a highly strategic acquisition 
  • Uplist to a senior exchange 

FERN has been on a tear since the Company announced on May 3 it has received notification from NASDAQ’s symbol reservation department stating, “Your request to reserve the ticker symbol ‘FERN’, for Fernhill Corp., Inc. has been approved and will be reserved for you for twenty four months from the date of the reservation 02 May 2024. Fernhill will continue to trade on the OTC Markets under the symbol (OTC:FERN) throughout the process and will remain trading with that symbol after uplisting to Nasdaq. 

Earlier this week Fernhill formally submitted an application the NASDAQ Capital Market Exchange. The application has been logged and an analyst will be assigned to assist the Company throughout the listing process. Fernhill will continue to submit additional information and documentation as is required based on comments it receives from the Listing Analyst and others who will be assisting the Company, assuring that they satisfy all the required qualifications for NASDAQ Capital Markets securities in Rule 4300 and/or any other applicable regulatory requirements. Fernhill will also need to adhere to the corporate governance standards set by NASDAQ. In addition, Fernhill must comply with various listing requirements relating to audit committees, the director nomination’s process, the compensation of officers, board composition, executive sessions, quorum, and code of conduct among others.  

Chariman of the Company Chris Kern stated: “Regardless of the volatility in the crypto, equity markets and geo-political arena, we could not be more pumped about where we are as a company and the future that Fernhill holds. I’m very thankful to have extremely talented, focused and passionate teams at Fernhill and MainBloq and highly confident in our ability to execute on our Road Map. Combined with the new additions to our staff and board, potential acquisitions and a targeted uplisting, we expect 2022 to be a break-out year for Fernhill!” He also stated: “Getting a symbol reserved for trading on a senior exchange is a very big milestone for Fernhill. The fact that we were able to secure our symbol so quickly for Nasdaq is another great step towards our uplisting objective for this year. We will continue to work towards meeting the listing standards for corporate governance and other requirements knowing that we now have our symbol reservation approved. 

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Currently trading at a $29 million market valuation FERN has 2,241,662,827 shares outstanding, 1,571,546,514 of which are free trading shares. The Company carries just under $500,000 of liabilities on the books at least $125k is convertible debt. But FERN is an exciting story developing in small caps; the Company has acquired PerfectMine, delivered as software as a service (“SaaS”), providing optimized mining operating systems and algorithms, as well as MainBloq, a digital asset connectivity platform that is integrated with leading exchanges. They are currently readying the launch of the Company’s new NFT Marketplace which is designed to cater to high quality and exceptionally curated collections of art, music, photography, domain names, sports memorabilia and more. They are also in the process of becoming an SEC filer recently hiring PCAOB Auditor – Hudgens CPA, PLLC to guide them through the process. The stock has been on a tear since the Company secured “FERN” as its trading symbol NASDAQ. FERN needs to break out over $0.018 April highs for a change to take out $0.066 highs of October. At current levels FERN is very attractive, it has shown strong support at $0.01 a range it is now breaking out of, it’s got liquidity, momentum, a fast-growing shareholder base, a realy exciting story and a significant gap to fill from current levels. We will be updating on FERN when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with FERN.

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Disclosure: we hold no position in FERN either long or short and we have not been compensated for this article

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