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Monday, October 18, 2021

Majic Wheels Corp. (OTCMKTS: MJWL) Major Move as Fintech Looks to Up List to Major Exchange and Reports Coming Acquisition

Majic Wheels Corp. (OTCMKTS: MJWL) is making an explosive move up the charts after the Company announced a big week coming this week with a new acquisition to be announced. The Company also reported a new agreement with $SRAX which trades on the Nasdaq and is involved in Sequire and LD Micro. Its Sequire provides users many features, which allow issuers to track their shareholders behaviors and trends, then use data-driven insights to engage with shareholders across marketing channels. Its LD Micro organize and host investor conferences within the micro and small- cap space, and plan to create several niche events for the investor community.  

MJWL has been on the move since Shaw Cheng “David” Chong took over as CEO and positioned the Company as a player in the disruptive industries of Fintech and Software Development. Since than the Company has up listed to “pink current” and announced their plan to move to the NASDAQ. CGCX is already doing big revenues reporting $5,281,500 in sales for the 12 months ending on December 31, 2020. For the 6 months ending on June 30, 2021, revenues were USD 5,117,136. The Company is projecting significant revenue growth over the next few years. MJWL has emerged in recent days as an investor favorite and is currently among the most actively searched and talked about stocks in small caps. MJWL is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars – a break over $0.265 and its blue skies ahead for MJWL. Microcapdaily first reported on MJWL in May when the stock was sub $0.05 before it ran to 52-week highs of $0.265 on the CGCX acquisition. 

Majic Wheels Corp. (OTCMKTS: MJWL) a Delaware holding corporation, intends to position itself as a player in the disruptive industries of Fintech and software development by means of multiple acquisitions. The Company’s first acquisition is the cryptocurrency exchange, cryptocurrency mining farm and custody services platform: Calfin Global Crypto Exchange (CGCX). 

Majic has big plans; CEO David Chong recently stated: “Our plan is to continue to create shareholder value of investors of Majic through the acquisitions of synergistic candidates to complement the current offering of CGCX. As well our intention is to make CGCX a global player in the Crypto Currency Exchange Industry. Beyond the Exchange itself, we want to position CGCX as a provider of Blockchain solutions. We have received incredible feedback to the iChain Decentralized Blockchain platform so far.” Said David Chong, Chief Executive Officer of Majic Wheels Corp.  Our objective to up list to the NASDAQ exchange remains on schedule with the engagement of auditors as our current next step. We are also undertaking several initiatives to increase the profile of Majic as a publicly traded company among institutional investors and investment bankers. To that end, the Company has already been in discussion with a renowned Investment Bank to act as the underwriter and advisor to the Company. 

The Company recently signed an agreement with New York based Investment Bank Donald Capital, LLC. to provide M&A Strategic Advisory and Investment Banking services to the Company as a lead placement agent. Donald Capital will assist the Company to raise capital in a private offering of up to $50,000,000. 

In June Majic acquired Calfin Global Crypto Exchange (“CGCX”). CGCX has built three business lines including the CGCX Exchange, Custody Services and Cryptocurrency Mining. The CGCX Cryptocurrency Mining operations encompass a large project to mine several different cryptocurrencies. Phase One of the mining operations will focus heavily on ETH mining and rely on Ethash and Etchash algorithms. CGCX’s ETH mining operations are scheduled to begin in the fourth quarter of 2021 and reach full scale by the second quarter of 2022. 

CGCX is already doing big revenues; the Company reported: For the 12 months ending on December 31, 2020, revenues were USD 5,281,500. For the 6 months ending on June 30, 2021, revenues were USD 5,117,136. The Company is projecting signicant revenue growth over the next few years. 

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Proof of concept machines have already been received and currently undergoing testing with positive results. Planned capacity is for 500 mining rigs with 12 GPUs per rig for a total of 6,000 GPUs ordered and a planned phased delivery within 6 months. Once all the miners are installed, the Company’s hash rate will be approximately 402,000 MH/s for less than 1 MWh power usage. The average mining cost for hosting services, electricity, data center management, and hosting related expenditure will be $0.07 per kWh. The Data center will be partly powered with renewable energy, with a target for a carbon neutral footprint of more than 50%. 

VIA CGCX the Company launched iChain Advanced Decentralized Blockchain Platform. CGCX’s iChain is an ambitious Layer 2 scaling project dedicated to the establishment of a truly decentralized infrastructure. It provides one of the largest blockchain-based operating systems and offers public blockchain support of high throughput, high scalability, and high availability for all Decentralized Applications (DApps) on the CGCX iChain ecosystem. iChain is designed to be a complete platform for launching interoperable blockchains and offers significant transparency, security, scalability, performance, and low/no gas fees. 

The first project – iBG (www.ibg.finance), a Smart DeFi Robo Advisory app that provides users with AI enabled asset management, has already gone live on CGCX iChain, with more than 3000 transactions logged in the first hour. The second project is CGCX token. CGCX is the world’s first fully insured hybrid trading platform and its native utility token will migrate from Ethereum blockchain to iChain blockchain. There are two further enterprise blockchain projects in the pipeline that are due to go live on the CGCX iChain. 

CGCX recently signed a definitive agreement to provide custody services to iBG.Finance for assets valued currently at USD 121,500,000. A total of 45,000,000 tokens will initially be held under management of the CGCX Custody Solution. As of August 15, 2021, the iBG token was trading at USD 2.70 per token. The agreement signed between CGCX and iBG has a potential to generate an annual revenue of 0.5% of the average value of the Assets Under Management (AUM). 

On October 1 the Company, by means of acquisitions, announces it has signed a letter of Intent (“LOI”) with Bamboo Wellness Holdings Limited. Bamboo Blockchain and Analytics Competency Center aims to create a holistic healthcare ecosystem that will drive a data-driven decision-making model. Supported by Artificial Intelligence and Machine Learning, the Bamboo ecosystem aims to drastically bridge the health protection gap and bring insurance to everyone. 

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MJWL is making an explosive move up the charts after the Company announced a big week coming this week with a new acquisition to be announced. The Company also reported a new agreement with $SRAX which trades on the Nasdaq and is involved in Sequire and LD Micro. Its Sequire provides users many features, which allow issuers to track their shareholders behaviors and trends, then use data-driven insights to engage with shareholders across marketing channels. Its LD Micro organize and host investor conferences within the micro and small- cap space, and plan to create several niche events for the investor community.   MJWL has been on the move since Shaw Cheng “David” Chong took over as CEO and positioned the Company as a player in the disruptive industries of Fintech and Software Development. Since than the Company has up listed to “pink current” and announced their plan to move to the NASDAQ. CGCX is already doing big revenues reporting $5,281,500 in sales for the 12 months ending on December 31, 2020. For the 6 months ending on June 30, 2021, revenues were USD 5,117,136. The Company is projecting significant revenue growth over the next few years. MJWL has emerged in recent days as an investor favorite and is currently among the most actively searched and talked about stocks in small caps. MJWL is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars – a break over $0.265 and its blue skies ahead for MJWL. Microcapdaily first reported on MJWL in May when the stock was sub $0.05 before it ran to 52-week highs of $0.265 on the CGCX acquisition. We will be updating on MJWL when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MJWL.

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

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