Featured
Star Alliance International Corp (OTCMKTS: STAL) Rising Steady as Co Files 10k & Looks to go Pink Current (More on Genesis Gold extraction System)
Published
1 year agoon
By
Boe Rimes
Star Alliance International Corp (OTCMKTS: STAL) is making an explosive move up the charts since reversing off $0.031 lows earlier this year. Recently the stock surpassed $0.25 per share and looks to be going higher as heavy accumulation continues. Management has been working hard getting teh files in order recently filing both a 10Q and a 10K in an effort to go “pink current” once that is achieved STAL will be much easier to buy from online brokerages and volume will increase significantly from current levels.
Earlier in November Star Alliance gave an update on its Genesis Gold extraction System which extracts up to 98% of the gold from oxide ore and is environmentally safe, is fully tested, and working very efficiently. The Company’s new updated model will process up to 5000 tons of ore daily not just from Oxide ore but also from other more complex ore. This versatility also allows for the treatment of the ore regulating the PH or other chemicals necessary to accelerate the regeneration of the discarded soil.
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Star Alliance International Corp (OTCMKTS: STAL) is a Worldwide Holding Company with strong assets in the US, Honduras, Guatemala and Nigeria. Star’s assets include gold mines in California and Honduras with gold and lithium mines in Nigeria. In addition, Star searches out innovative new technologies that are eco-friendly including our new mining technology “Genesis” that is used for the extraction of gold. This equipment that we plan to market to gold mines worldwide has been invented, designed and built in Guatemala. Lastly, we have our patented Barotex™ technology. Barotex is the fiber, manufactured from volcanic rock, that is incredibly light, stronger than steel, wood, carbon fiber, fiberglass, aluminum and Kevlar and is bio-degradable. The product can be used in many everyday applications.
The Company anticipates continued expansion of its efforts domestically and abroad, with a particularly keen focus on breakthrough separation and processing technologies for precious metals and rare earths. It is Star’s goal to become a very well-rounded enterprise with sufficient diversification paired with a balanced approach ensuring the very best possible results and the highest possible value for our shareholders.
Earlier in November Star Alliance gave an update on its Genesis Gold extraction System which extracts up to 98% of the gold from oxide ore and is environmentally safe, is fully tested, and working very efficiently. The Company’s new updated model will process up to 5000 tons of ore daily not just from Oxide ore but also from other more complex ore.
STAL announced in December 2021 that it had signed a Binding letter of Intent to acquire a 51% stake in the two Genesis gold extraction processes and we are now finalizing the transaction after our team has fully vetted the equipment and its spectacular results. Our original Genesis equipment processes up to 350 tons of Oxide ore daily, generating substantial gold deposits at a level significantly greater than other heap leaching methods, up to a 98% recovery rate, is a much faster process and is environmentally safe.
$STAL Our new updated model will process up to 5000 tons of ore daily not just from Oxide ore but also from other more complex ore.https://t.co/P3lQM9ONdX#OTC #OTCMarkets #pennystock #wallstreetbets #StocksToBuy @jctb1 #stocks #gold #silver #Daytrader
— Nasdaq Stocks (@ThompsonAlert) November 28, 2022
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The Genesis Gold Extraction System processes gold bearing minerals from the most complex to the simplest ores at up to 5000 tons per day. The new process has been in development since 2016. Now the process is complete, being patented and the Company’s new plant is being built which will be ready in 2023. Within specially designed reactors, both leaching and pre-treatment occur thereby reducing costs. This versatility also allows for the treatment of the ore regulating the PH or other chemicals necessary to accelerate the regeneration of the discarded soil.
Currently complex coal-sulfide minerals, known as double refractoriness minerals, require roasters to burn the coal and after this treat the sulfides making it potentially dangerous for the environment and economically not viable. Mines with complex low grade minerals are currently unprofitable with conventional methods. In our process, we attack both refractoriness minerals in the same reactor system without the use of fossil fuels. STAL has achieved this through low power electricity converting the most complex gold-carbon-sulfide ore into a free gold oxide that can then be leached in any traditional way.
Genesis will convert any ore with one or two refractoriness to oxidized ore making them economically viable and environmentally friendly. The Company can also treat already oxidized minerals without the need for pretreatment. This phase, where we treat oxides, can be used to replace processes such as heap leaching or gravimetric processes, since it is not necessary to pulverize the ore to be leached. Other advantages are the speed of our process, greater control, automation, ore reconditioning. and full recovery of precious metals.
Richard Carey, our Chairman stated: “We have been working with the inventor who has spent the last year perfecting the design on the larger refractory ore processing system, ” we are now excited to confirm that the equipment will not only manage the process of 5,000 tons of ore per day but will became the primary process that will be used worldwide to extract gold and silver from complex deposits Our system will be both more eco-friendly and with greater productivity. We will soon be ready to introduce our system to mines all over the world.”
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Currently trading at a $32 million market valuation STAL os is 182,838,028 with just under 11 million shares in the float. The Company is an SEC filer recently filing both its 10Q and 10k on time showing a healthy balance sheet with just under $3 million in assets and very little debt of $1.5 million. STAL is “pink limited” and cannot be traded by many brokers and already has done over $300,000 in dollar volume in half a day’s trading up over 50% on Tuesday. If the stock can do this kind of volume while “pink limited” imagine what it can do when its “pink current” and can be traded everywhere. STAL says its new Genesis Gold extraction System extracts up to 98% of the gold from oxide ore and is environmentally safe, is fully tested, and working very efficiently. The Company’s new updated model will process up to 5000 tons of ore daily not just from Oxide ore but also from other more complex ore. This versatility also allows for the treatment of the ore regulating the PH or other chemicals necessary to accelerate the regeneration of the discarded soil. We will be updating on STAL so make sure you are subscribed to Microcapdaily.
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Disclosure: we hold no position in STAL either long or short and we have not been compensated for this article.
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Emerging Markets
Bitfarms (NASDAQ: BITF) in Focus: Exploring the Meteoric 110% Surge and Macro Influences
Published
18 hours agoon
December 7, 2023
Bitfarms Ltd. (NASDAQ: BITF) rides the wave of explosive growth surging by over 110% from its lows of $1.03 per share in November. This BTC miner has witnessed a 41% increase since last Friday, December 1st, 2023. If you’ve been keeping up with our recent articles, you’ll notice that majority of coverage lacks substantial press releases or filings supporting a surge in valuation. Today’s coverage includes precisely that and more. Let’s delve deeper into BITF to assess if this crypto miner is worth considering amidst the ongoing rise in spot BTC.
Background:
Established in 2017, BITF has established itself as a global leader in Bitcoin (BTC) mining. Utilizing its computational power, the company contributes to various mining pools, earning payment in Bitcoin.
BITF sets itself apart by developing, owning, and operating vertically integrated mining farms. These facilities feature in-house management, company-owned electrical engineering services, installation support, and multiple on-site technical repair centers, ensuring a comprehensive operational setup. Bitfarms relies on its proprietary data analytics system, ensuring superior operational performance and uninterrupted service.
Currently managing 11 farms across four countries—Canada, the United States, Paraguay, and Argentina—Bitfarms predominantly uses environmentally friendly hydro-electric power and maintains long-term power contracts. The company remains dedicated to employing sustainable energy sources, often utilizing locally available and under-utilized energy infrastructure.
In its recent upgrade initiative, BITF has improved its fleet’s efficiency and capital practices ahead of the Halving. This strategic move aims to boost its capital-efficient fleet to 12.0 EH/s by Q2 2024. The focus lies in reducing miner and energy costs, enhancing fleet energy efficiency, and fostering greater pricing flexibility for sustained growth and success.
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Market Update:
At the core of BITF’s latest momentum and strength lies its connection to macro-scale factors. To provide deeper insights into BITF’s future prospects, we’ve conducted a comprehensive market analysis.
The latest market surge propelled spot BTC above the USD $44,000 mark at its peak, reaching its highest value in more than 19 months. This remarkable rally emphasizes the enduring positivity shared among retail and institutional traders alike.
Blackrock ETF:
The primary driving force behind Bitcoin’s ascent appears to be rooted in market expectations of an approved spot BTC exchange-traded fund (ETF) in January 2024. This anticipation has spurred substantial cash inflows from institutional investors, contributing significantly to Bitcoin’s current trajectory.
If the approval unfolds as anticipated, it has the potential to bring a substantial wave of fresh capital into Bitcoin. According to certain projections, this approval might introduce up to $50 billion in new liquidity to Bitcoin. The precise impact on Bitcoin’s price remains uncertain; however, a particular model suggests a 4% price surge for every $1 billion that enters Bitcoin. Consequently, if the projected $50 billion materializes, Bitcoin could potentially double or even triple in value.
Rumours from Qatar:
As per bitcoin enthusiast Max Keiser, Qatar’s sovereign wealth fund (QSWF) (mainly tasked with managing the nation’s extensive oil and gas-derived wealth), is contemplating a significant investment spree of up to $500 billion in the flagship cryptocurrency, Bitcoin.
To offer a comparison, this proposed investment dwarfs the disclosed Bitcoin holdings of MicroStrategy, founded by Michael Saylor, by an astonishing 671 times. Presently, MicroStrategy stands as the largest corporate holder of Bitcoin, possessing 174,530 BTC following its acquisition in November.
Keiser is notably optimistic that QSWF’s monumental investment could propel the price of bitcoin to reach soaring highs of $100,000.
Binance Update:
In the aftermath of former Binance CEO Changpeng Zhao’s guilty plea and the subsequent $4.3 billion settlement with the U.S. Department of Justice (DOJ) on Nov. 21, Bitcoin’s price initially showed mixed signals. Contrary to expectations, Binance did not experience a mass exodus of funds similar to what FTX faced during its public liquidity crisis. Notably, prominent figures in the crypto space, such as Galaxy Digital CEO Mike Novogratz, perceive the settlement as a positive development overall.
At first, Binance’s Bitcoin reserves dropped by 17% from their peak. Following the initial outflows, the balance has shown an increase of nearly 1%. As for FTX, their BTC reserves fell a staggering 99.9% from all-time highs in November 2022 ,with no recovery in sight.
This serves as a significant testament to Bitcoin’s resilience at present, even as the largest cryptocurrency exchange by volume faces a monumental lawsuit. Unlike the substantial impact experienced by FTX, this legal challenge did not severely affect BTC reserves.
So What?:
With multiple factors driving spot BTC, smaller-scale BTC miners are becoming increasingly attractive -especially considering the potential financial growth and rising profit margins. Let’s delve into the recent developments concerning BITF for a closer look.
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What Happened:
On December 1st, 2023, BITF released a comprehensive performance and financial update, revealing robust figures for their BTC mining operations. Based on this report alone, it’s evident that BITF boasts a substantial global operational capacity and possesses the financial support needed to remain competitive, particularly as BTC mining grows more challenging post-halving. To enhance clarity, we’ve restructured the release into bullet points for easier comprehension.
BTC Production: November production recorded 392 BTC, a 1.5% decline from October. The network difficulty surged by 19.0% in November, indicating strong miner demand leading into the 2024 Halving.
Network Metrics: For the eleven months ended November 30th, network difficulty increased by 92.2%, while BTC’s price rose approximately 128.4%. This resulted in a 33.9% improvement in production economics measured by USD/TH/day.
Operating Highlights:
- 6.4 EH/s was online by November 30, 2023, marking a 45% increase from November 30, 2022.
- 66.4 BTC/average EH/s was recorded, down 1.9% from October 2023.
- 13.1 BTC earned daily on average in November, equivalent to about $495,200 per day based on a BTC price of $37,800 on November 30, 2023.
Expansion Initiatives:
- Firm purchase order placed for 35,888 Bitmain T21 miners, with an option for an additional 28,000 T21 miners.
- Finalizing contracts to expand operating capacity from 30 MW to 50 MW at Paso Pe, adding 20 MW of hydro-miner containers.
Financial Update:
- Raised $44 million in gross proceeds through a private placement of common stock and warrants.
- Sold 350 BTC, generating $12.8 million in total proceeds.
- Added 42 BTC to treasury, holding a total of 802 BTC, valued at approximately $30.3 million based on a BTC price of $37,800 at November 30, 2023.
- Held Synthetic HODL™ of 35 long-dated BTC call options as of November 30, 2023.
- Reduced outstanding indebtedness by $1.9 million, leaving a remaining balance of $6.0 million at November 30, 2023.
Technical Analysis:
We’re noticing a trend among retail traders on social platforms like X, discussing technical trading patterns related to crypto miners, specifically highlighting positive momentum linked to an Inverse Head and Shoulders (IHS) pattern. A user, @FreeDoomCapital, suggests that among all miners, BITF seems to exhibit the clearest pattern. Here’s a brief explanation of the pattern to enhance your comprehension.
The Inverse Head and Shoulders (IHS) pattern is a technical analysis formation commonly observed in financial markets, particularly in stocks, currencies, and cryptocurrencies. It’s considered a bullish reversal pattern and typically appears after a downtrend.
Here’s a further breakdown on the pattern:
- Formation: The pattern consists of three successive troughs. The middle trough (the “head”) is the lowest point, while the two surrounding troughs (the “shoulders”) are higher than the head and relatively symmetrical in height.
- Shoulders: The left and right shoulders are formed at the end of a downtrend. They show a decline in price followed by a temporary stabilization or slight increase before declining again.
- Head: The head is formed after the left shoulder, indicating a further decrease in price, often reaching a new low. However, the head is typically higher than the previous trough, indicating a potential shift in the downward momentum.
- Neckline: The neckline is a trendline connecting the highs of the two shoulders. It acts as a critical level; a breakout above this line is a significant signal for a potential trend reversal.
- Volume: Volume analysis can complement the pattern. Generally, during the formation of the left shoulder, the volume decreases, increases during the head formation, and decreases again during the right shoulder formation. A breakout with higher volume after the formation is considered a stronger confirmation of the pattern.
- Confirmation: A confirmed Inverse Head and Shoulders pattern occurs when the price breaks above the neckline. Traders often look for a sustained move above the neckline to confirm the reversal.
The Inverse Head and Shoulders pattern is considered complete when the price breaks above the neckline, indicating a shift from a downtrend to a potential uptrend. Traders and analysts use this pattern as a signal to anticipate higher prices, and they often set price targets based on the distance between the neckline and the head.
Similar to all technical trading patterns, it’s important to recognize that it’s not foolproof and may not be accurate in every instance. However, it’s noteworthy that several sources are paying attention, particularly due to the apparent clarity of BITF’s formation of an IHS pattern in their lineup.
Conclusion:
An essential consideration with BTC miners is the increasing difficulty of mining the digital asset after halving, which is scheduled for around April 2024. BITF’s recent fleet upgrade aims to strengthen its capacity pre-halving, positioning itself as a frontrunner. With spot BTC around USD $44,000, the 392 BTC mined in November alone would translate to approximately USD $17 million in top line revenue. If potential BTC catalysts sky rocket the price to USD $150,000 as some suggest, November’s mining performance would represent nearly $60 million – and that’s just in one month. As one of the leading BTC miners globally, we highly recommend keeping BITF on your radar.
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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.
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Featured
The Crypto Company (OTC: CRCW) Skyrockets 1000%: Understanding the Surge and Potential Impact
Published
3 days agoon
December 5, 2023
The Crypto Company (OTC: CRCW) has experienced a significant upswing, with a staggering increase of over 1000% within just a few weeks. Despite this dramatic movement, there seems to be no noticeable impact from any major press releases driving these fluctuations. However, numerous filings on the OTC Markets are available for review, potentially holding significance in explaining this sudden surge.
X, a commonly used platform by OTC companies for investor updates, has also not seen active utilization in this scenario. Nevertheless, there has been a noticeable uptick in engagement from investors on the platform.
As CRCW crosses the one-cent-per-share mark, there arises a pertinent question: Can this momentum be sustained, potentially pushing the stock to even higher levels? Examining various factors, including forthcoming prospects and market dynamics could shed light on their trajectory – as always, we’ll start with some background first.
Background:
Given CRCW’s website is currently under construction, we’re basing our background analysis on one of their filings. Before we dig deeper, it’s important to note that CRCW is registered with the SEC and adheres to their rigorous reporting standards. This is a positive aspect for investors, enhancing transparency across the board.
As mentioned, we found their background from an excerpt on their 10-Q filing. Which states that the Crypto Company was established in Nevada on March 9, 2017 and their focus in the business of Bitcoin mining, consulting, training, education, and associated services concerning distributed ledger technologies, commonly known as “blockchain.”
They have a wholly-owned subsidiary, Blockchain Training Alliance where all their courses and training packages can be found. It appears this is the entity in which most of their business is conducted.
These services cater to both corporate and individual clients, emphasizing general blockchain education and the development of technological infrastructure and solutions for enterprise-level blockchain technology. The company’s primary sources of revenue and expenses stem from consulting and educational related operations.
Market Dynamic:
The crypto market’s performance this year has been remarkable. For those not closely following, it has surged by over 150% in just a single year… With Bitcoin’s lows in January, much of the online chatter was pessimistic, painting the digital asset as a futile investment destined to vanish into nothingness and hold no value. Of course all that has changed and a number of market dynamics have pushed positive momentum to the digital asset.
Just recently, there’s quite a significant rumour going around, that Qatar’s Sovereign Wealth Fund is evaluating a $500 Billion Bitcoin Investment. This has in turn fuelled a market frenzy and pushed BTC over 10% in 4 days.
As per a user, @seth_fin, on X, an investment of this scale could potentially propel the value of BTC to over $150,000 per coin. This represents a substantial increase of approximately 255% from the current value of $42,298 at the time of writing.
Other macro possibilities are at stake as well, with the possibility of a spot BTC Blackrock ETF, and BTC halving in April 2024. These advancements have generated substantial excitement within retail investor communities, to say the least.
The importance of this market dynamic is simple. In a booming market, all entities tend to benefit. Considering CRCW as a micro cap OTC company in the cryptocurrency realm, there’s a possibility it could also gather momentum. Given its low share value, the observed volatility can be quite intense, as evident from the recent fluctuations over the last couple of weeks.
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OTCM Filings:
As previously mentioned, the company has put out numerous filings in recent weeks. Here are a couple that warrant your attention.
Insider Purchase:
CRCW put out an 8-K on November 24th, 2023. Here’s the exact statement from the filing, “Effective November 24, 2023, the Crypto Company (the “Company”) agreed to convert $49,600 of accrued but unpaid salary for Ron Levy, the Company’s Chief Executive Officer, Interim Chief Financial Officer, Chief Operating Officer and Secretary (“Mr. Levy”), to Common Stock of the Company at a conversion rate of $0.0016 per share (the “Conversion Price”), resulting in an aggregate of 31,000,000 shares of Common Stock of the Company (the “Conversion Shares”) being issued to Mr. Levy. The Conversion Price was based upon a five-day volume-weighted average price of the Company’s Common Stock and approved by the Company’s independent board member.”
Insider purchases are good for a number of reasons, specifically:
- Confidence and Alignment: Insider purchases often signal confidence in the company’s future prospects. When executives, directors, or employees buy shares of their own company, it demonstrates that they believe in its potential for growth and success. This action aligns the interests of insiders with those of shareholders, indicating a shared belief in the company’s performance.
- Positive Signal: It can serve as a positive signal to the market. Public disclosure of insider purchases can create a favorable impression among investors, indicating that those closely involved with the company view its stock as undervalued or anticipate positive developments.
- Information Signal: Insider purchases might suggest that those with the most intimate knowledge of the company’s operations and potential future plans see favorable outcomes ahead. This information can be perceived by outside investors as a cue to the company’s expected performance.
10-Q filing:
It’s crucial to evaluate financial stability unveiled in 10-Q filings. As for CRCW, there appears to be underlying risk factors involved with their financial health. This is a frequent occurrence among OTC companies trading in the Pink tier and a common risk taken for companies in a high growth phase. With other positive indicators, it doesn’t automatically imply you should stay away, but these are figures you should be aware of:
- Total Revenue 3 months ended September 30th 2023 USD $124,195 compared to USD $252,733 the year prior
- Net loss 3 months ended September 30th 2023, (USD $358,845 ) compared to (USD $415,737 ) the year prior
- Total current assets September 30th, 2023 $1,306,324 compared to $1,556,561 December 31st, 2022
- Total Liabilities September 30th, 2023 $5,211,421 compared to $4,616,001 December 31st, 2022
As of September 30, 2023, the Company had cash of USD $20,435. In addition, the Company’s net loss was (USD $3,922,996) for the nine months ended September 30, 2023 and the Company’s had a working capital deficit of USD $5,048,726.
Technical Analysis:
The surge in trading volume of CRCW has attracted a considerable influx of technical traders seeking potential entry points. The recent volume reached an impressive 74,807,398 shares traded, marking over a 5.5x surge compared to its average 3-month volume of 13,674,352.
While technical analysis is commonly favoured by day traders seeking quick flips or swing trades, it plays a pivotal role in enhancing market liquidity for all investors.
According to insights from users like @jennyjunechris, there seems to be a shift in support and resistance levels. Their perspective indicates that CRCW may have established a new support level after successfully surpassing prior resistance thresholds.
Resistance levels, integral in technical analysis, represent price levels where a stock encounters selling pressure, hindering its upward momentum. These levels signify areas where the price struggles to ascend, potentially indicating a barrier preventing further upward movement.
Traders and analysts identify these levels through historical price patterns, chart analysis, and market behaviour. Approaching a resistance level often triggers heightened selling activity, as previous buyers may sell to lock in profits, potentially stalling or reversing the asset’s ascent.
Understanding resistance levels is pivotal for traders, indicating potential selling opportunities. Failure to breach a resistance level might suggest a stall or reversal in an asset’s upward trajectory. Conversely, a convincing breakthrough above a resistance level could signal a continuation of a bullish trend.
Trading Algorithms:
As mentioned, CRCW experienced a notable surge without any significant press releases or SEC filings today. Much of this momentum seems to stem from increased demand among retail investors and a surge in hype, which could potentially impact trading algorithms.
This sudden surge in the market, characterized by rapid price fluctuations, has the potential to prompt algorithms to react aggressively, thereby amplifying market volatility. Additionally, the high trading volumes observed within a short timeframe could trigger algorithms designed to respond to volume changes, further magnifying price swings.
Moreover, trading algorithms commonly rely on technical analysis, reacting swiftly to signals from various charts, indicators, and trading patterns. Abrupt changes in these technical indicators might trigger rapid algorithmic responses, contributing to the overall market turbulence.
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Material Press Release:
Since June 26, 2023, the company hasn’t issued any press releases, but one stands out as a significant event from 2022. CRCW secured a substantial deal with a company associated with Fortune 500 companies.
Given the prevailing macroeconomic factors, there’s a growing demand for a deeper comprehension of cryptocurrency as a whole, this is precisely where CRCW’s educational packages become highly relevant and it’s possible their wholly owned subsidiary will be well positioned to take advantage of increased demand.
Oct. 26, 2021 Release:
CRCW announced that its wholly owned subsidiary, Blockchain Training Alliance, has partnered with Hired to supply candidates for referral in the high-demand blockchain space. Hired is a service provider to industry leaders such as Instacart, Wayfair, Zendesk, Postmates, Twitch, Capital One, and Peloton.
Demand for blockchain skills is a rapidly growing IT skill set, and the Blockchain Training Alliance is a global leader in instructor-led blockchain training and certifications. It provides relevant content, instruction, and certifications for blockchain technology as the use of blockchain continues to grow in the corporate world.
“We are thrilled to enter into this new agreement with Hired as it solidifies our position with a major employment company,” said Ron Levy, CEO of The Crypto Company. “Blockchain Training Alliance is arguably the #1 blockchain training company in the world, and I believe we are experiencing the largest migration of talent in history into one industry and that industry is blockchain. My team is at the forefront of training that talent pool, so, it makes perfect sense that we help source candidates to one of the leaders of the talent marketplace.”
Since this announcement, there’s been a noticeable crypto market downturn, commonly referred to as the “crypto winter.” However, with renewed enthusiasm for the crypto space, there’s potential for this deal to attract increased deal flow. While an update from the company regarding this would be appreciated, the deal remains intriguing and could potentially drive substantial long-term growth.
Conclusion:
In summary, the prevailing positive market dynamics hint at a potential upswing for crypto companies in general, including micro cap OTC entities like CRCW, poised to reap the benefits. Naturally companies like CRCW will have extreme volatility, potentially leading to monumental 1000% gains, or entire loss of your investment. Some positive filings reveal significant insider activity and have drawn attention from a robust retail community. Coupled with the Hired announcement, we find CRCW particularly intriguing with long-term growth prospects. As is customary in this swiftly evolving space, we advise closely monitoring CRCW for any rapid developments.
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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.
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Featured
BlockQuarry Corp’s (OTC: BLQC) Exponential Growth: Understanding the Phenomenon
Published
4 days agoon
December 4, 2023
BlockQuarry Corp. (OTC: BLQC) has seen an astonishing surge, with its shares soaring by almost 950% within just a month, rising from November’s lows of $0.016 per share to a high of $0.166 on December 1st, 2023. This exceptional growth has garnered attention within the retail community due to its substantial returns. Amidst this upward trend, the company issued three press releases, complemented by several OTCM filings detailing the company’s quarterly and annual financial reports. Today, an analysis of these releases, filings, and broader market trends will shed light on BLQC’s recent remarkable valuation increase.
Background:
The primary source for comprehensive information about BLQC lies within their website, offering more specific insights compared to their press release ‘about’ sections. Their focus primarily revolves around providing all-in-one eco-friendly crypto mining solutions. This entails offering hosting, mining, energy, expertise, and infrastructure necessary for complete turn-key cryptocurrency mining operations.
BLQC employs a dual cryptocurrency revenue strategy, capitalizing on both mining and hosting income streams. While revenue from internal mining activities fluctuates with specific cryptocurrency prices, their hosting services generate income independently of crypto pricing. This balanced approach ensures steady cash flow growth from operations, regardless of Bitcoin or other cryptocurrency prices.
Although BTC stands as their primary mining target, BLQC appears open to exploring new opportunities in Crypto assets and Blockchain technology. Their Crypto mining operations currently rely on leased renewable energy power generation facilities located in Gaffney, SC, Rutherford, NC, and Mooreshead, NC.
Until March of 2022, the Company also offered management services include managing day-to-day billing and vendor activity for a health care business. Those operations are now classified as discontinued operations.
Market Dynamic:
Bitcoin (BTC) recently soared to a 2023 high, hitting $41,522 due to favorable regulatory shifts and an optimistic market atmosphere. Both the Momentum (10) at 3735.76 and the MACD Level at 1283.69 signal a ‘Buy’ for BTC, indicating potential positive trends ahead. Analysts are hopeful about BTC’s future, buoyed by retail investors’ optimism and the possible approval of a Bitcoin Exchange-Traded Fund.
As for crypto miner BLQC, these currency price surges significantly impact their mining profitability. Given BTC’s 150% surge, BLQC anticipates higher margins in their mining operations. The fluctuation of other currencies like ETH, SOL, and XRP, have also seen substantial gains recently. Suggesting bullish trends and contributing to an overall positive outlook for Cryptocurrency.
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OTCM Filings:
At the core of OTC companies lie their filings. These essential documents demand careful attention and thorough examination to gain a comprehensive understanding of their current status. Often, these OTC companies lack significant press releases or comprehensive websites, compelling investors to delve into their filings. These filings offer in-depth and accurate insights into their performance and fundamental well-being, serving as a crucial resource for investors seeking a clearer picture.
As for BLQC, they have OTCM filings which are less extensive than SEC filings, but are designed to provide investors with some basic financial information. Some OTC companies voluntarily register with the SEC to provide additional transparency and credibility to investors – BLQC does not appear to have done so.
2022 Annual Report:
Upon a preliminary review, the audited annual report for 2022 indicates potential weaknesses in its fundamental health. However, this does not preclude the possibility of the stock gaining momentum. Nevertheless, here are basic key numerical highlights from their Annual Report from 2022:
- Total Assets USD $5,436,686 vs. USD $10,796,530 December 31, 2021
- Total Liabilities USD $15,273,941 vs. USD $16,066,782 December 31, 2021
- Total Revenue USD $5,330,133 vs. USD $959,677 December 31, 2021
- Net Income Loss USD $(15,426,817) vs. Net Income of USD $3,546,376 December 31, 2021
2023 Financials:
Our initial evaluation, which includes unaudited quarterly results along with highlights from the 9 months ending on September 30th, 2023, indicates potential weaknesses in the company’s fundamental health. However their bottom line at least saw improvement. Here’s a concise overview of the figures:
- Total Assets: USD $2,944,195 compared to USD $5,436,686 as of December 31, 2022
- Total Liabilities: USD $10,343,408 compared to USD $15,273,941 as of December 31, 2022
- Total Revenue for the 9 months ending September 30th, 2023 USD $922,192 compared to USD $3,676,160 for the same period in 2022
- Net Income Loss for the 9 months ending September 30th, 2023 (USD $4,110,673) compared to (USD $8,398,772) for the same period in 2022
BLQC is currently experiencing a high growth phase, it’s not surprising to witness its fundamental financial health in a challenging situation, especially given the significant changes BLQC has been through since 2022.
There are undoubtedly several other factors that could potentially contribute to the company’s positive momentum. Let’s proceed with the evaluation of another OTCM filing.
OTCQB Certification:
BLQC put out an OTCQB certification filing. This filing essentially applies for and fulfills the necessary requirements to be listed on the OTCQB market tier.
Being listed on the OTCQB can offer benefits such as increased visibility, more stringent reporting standards, better access to investors, and potentially improved liquidity. It’s seen as a more regulated and credible marketplace compared to the Pink tier, which often provides investors with increased confidence in the company’s operations and financial reporting.
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Press Releases:
Considering the substantial recent gain, let’s examine the last three press releases, disseminated within’ the last month to evaluate their potential connection to the recent surge.
Regains Possession of Gaffney Mining Assets:
BLQC recently reached a settlement agreement for the case of Blockquarry Corp v. Litchain Corp, marking a significant victory for the company. Reclaiming essential mining assets in South Carolina allows BLQC to regain control over crucial equipment necessary for their operations. President and Chair Alozno Pierce has a positive outlook, outlining plans for debt consolidation and asset management to further enhance the company’s financial stability and operational efficiency. They’ll be relocating assets to a new site in Missouri and have plans to reduce dilutive debt with the proceeds from their settlement. This will once again, position BLQC for operational expansion and stronger financial footing.
New Management:
BLQC is looking to propel operational growth and appointed Lawrence Davis as Chief Operating Officer (COO) and Sam Escobar as Director of Ground Operations. Davis, a military veteran and entrepreneur, brings substantial experience in executive consulting, security, and digital assets. More recently Davis’ entrepreneurial journey led to the founding and establishment of a digital assets fund, Wandering King Studios, which specializes in Web 3 product offerings and digital assets.
Escobar, also a decorated veteran, excels in executive consulting and blockchain technology, showcasing expertise in operational scaling. Pierce expresses confidence in Escobar’s alignment with BlockQuarry’s vision for growth. Notably, Escobar’s contributions have been instrumental in establishing and scaling multiple companies, showcasing his operational prowess in growing profitable entities. His expertise extends to blockchain technology and digital asset management, being the founder of a software protocol currently used in gaming and augmented reality training. On top of this, he’s also an active board member of a well-established digital assets CPO fund.
With their leadership, BlockQuarry aims for innovative and successful operations in the public markets.
Revenue Growth:
BLQC updates on the success of its new Missouri site under COO Lawrence Davis and Chairman Alonzo Pierce. Since becoming COO, Davis has focused on innovation and growth, overseeing the launch of BlockQuarry’s self-mining site in Macon, Missouri.
Pierce commended the swift site transition post-Gaffney court ruling, highlighting confidence in Davis’s leadership. The Macon site’s current operations feature two pods, projecting an annual revenue of approximately $1.4 million – $1.7 million. BlockQuarry plans to scale up to four pods by year-end, with the site designed for immediate scalability, targeting 9 MW of operational power and an annual revenue of $3 million – $3.4 million.
Davis noted the site’s importance in accelerating BlockQuarry’s growth and showcasing expertise to prospective clients and public markets. The Company pledges continuous updates on its Missouri operations, revenue projections, and additional projects, reinforcing its commitment to enhancing operations and value for shareholders.
Conclusion:
BLQC has taken substantial strides forward by closing the chapter with Litchain Corp. This strategic closure has opened new avenues for BLQC, paving the way for enhanced operations. Moreover, the recent addition of seasoned operational executives, known for their track record in scaling profitable entities, positions BLQC favourably for growth.
Despite recent financials not depicting optimal health, other releases suggest positive progress. The surge in BTC has provided a positive environment for crypto miners, including BLQC, ultimately leading to improved financial performance with higher margins. While it might still be early, the latest investor optimism, potential OTC tier upgrade, bolstered management team, and advancements at the Missouri Site indicate a promising trajectory for BLQC. Keep an eye on them by adding them to your watch list.
We will update you on BLQC when more details emerge, subscribe to Microcapdaily to follow along!
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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.
Picture by MichaelWuensch from Pixabay
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