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Friday, December 2, 2022

Marilynjean Interactive Inc (OTCMKTS:MJMI) Takes Center Stage

Marilynjean Interactive Inc (OTCMKTS:MJMI) is one penny stock that has got everyone’s attention since it hit the bb’s earlier this year running from $0.20 start to a recent high of $3.04.

While there is no evidence of promotion so far the Company has not been shy hyping themselves with a flurry of very exciting and high reaching press releases.

Marilynjean Interactive Inc (OTCMKTS:MJMI) bills itself as among the first publicly traded companies focused on bitcoin and the crypto-currency space. The Company is focused on the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies.

MJMI is currently exploring partnerships in several verticals within the crypto-currency space, including the multi-billion dollar remittance market. Management believes that several industries, including both international remittances and online gambling are on the verge of being revolutionized by the use of Bitcoin to effect transactions.

Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers.

However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence.

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On October 30 MJMI announced it has entered into discussions to acquire a share of an operating bitcoin exchange. According to MJMI owning and operating a Bitcoin exchange would allow MarilynJean to seamlessly integrate the currency conversion functions of both its planned remittance and gaming businesses as well as integrate directly with any Bitcoin ATM’s the company installs. A Bitcoin exchange is the central component to a fully integrated transaction with an end user that involves both FIAT (traditional currency) and crypto-currency.

A Bitcoin exchange works similarly to a stock exchange. A client deposits funds into an account and effects trades pursuant to buy (bid) or sell (ask) orders which the exchange software matches with orders from other users. Because both the buyer and seller must have the funds or Bitcoins in their accounts prior to the transaction being executed, both sides are protected. Users trade directly, as opposed to through brokers, communicating with the exchange through a standard web browser on a computer or mobile device via a secure connection. The exchange operator often takes a small transaction fee on each trade.

MJMI CEO Peter Janosi said “Being able to integrate the key verticals we are targeting, including remittance, gaming and ATMs with our own Bitcoin exchange has the potential to offer tremendous advantages to our company. We intend to trade through multiple exchanges simultaneously to ensure we offer our customers the best rates at the lowest prices. ‘’

On November 9 MJMI announced it has retained Christopher Concepcion to serve on its board of advisors. Mr. Concepcion has an MBA from Stanford University, over 30 years of international corporate expertise at the executive level, wide ranging business relationships in the Philippines and extensive experience in Bitcoin remittance and ATM operations.

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Currently trading at a sky high $331 million market valuation MJMI has no cash or revenues and rising short term debt. While this looks like an exciting opportunity it is difficult to get past the absurd valuation especially considering the Company sold 42 million shares at $0.01 each in 2012 to a number of investors although recently half of these shares were canceled. The remaining 21 million shares are surely the stock currently being liquidated into the campaign. We will be updating on MJMI when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MJMI.

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

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