Byzen Digital Inc (OTCMKTS: BYZN) is making a strong move up the charts running off its $0.05 base on significant volume in recent days. Thursdays volume topped $1 million USD and investors are staring to take notice.
The big news on BYZN is the previously announced LOI with Clean-Seas, a Delaware corporation established to address the global plastic waste issue on-land, mitigating what waste ends up in the oceans. Byzen will cease operations as a digital holding company and Clean-Seas will take over the Byzen operations allowing the combined company to focus on the global waste plastic crisis. Clean-Seas has established relationships with plastic recycling technology providers and will leverage its global experience in the renewable energy sector to set up waste to energy facilities in emerging and developed nations, all of whom must address their own waste plastic issues.
Byzen Digital Inc (OTCMKTS: BYZN) was riginally set up to operate exclusively in the blockchain sector, Byzen Digital’s scope has grown beyond its initial focus to incorporate start up’s, SME’s and established companies from the wider tech arena including cybersecurity, data storage, cloud-tech, analytics, software and digital applications. The Byzen Digital family provides vital strategic insight, global funding access and robust corporate governance structure to support its incorporated ventures in positioning concepts for global success.
In March BYZN entered into a letter of intent to merge with Clean-Seas, a Delaware corporation, to address the world’s growing waste plastic crisis. Byzen will cease operations as a digital holding company and Clean-Seas will take over the Byzen operations allowing the combined company to focus on the global waste plastic crisis.
According to the press release – Waste plastic affects every country and all major corporations that use plastics in their production or packaging of products. It has been said that by 2050 there will be more plastic in the oceans than fish, with the equivalent of 1 garbage truck full of plastic entering the ocean every minute. Only a small percentage, 8%, of all plastic produced has been recycled, the remainder has been sent to landfills, to incineration or to China. As more and more corporations and countries strive to achieve a “plastic neutral” footprint, Clean-Seas is poised to become the world’s leader in turning waste plastic into clean burning energy.
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Clean-Seas is a solutions provider coupling advanced technologies with customer need to solve this growing problem. The Company’s business model takes mixed waste plastic and using advanced pyrolysis technologies, recycles it into commodities for sale such as: clean burning fuels for energy generation, eco diesel, carbon black, and gasses. Additional expected lines of revenue for the Company include: gate fees to accept the waste plastic, carbon credits and plastic credits. The Company has letters of intent for projects in the South Pacific, Asia and Africa.
Clean-Seas was established in 2019 to address the global plastic waste issue on-land, mitigating what waste ends up in the oceans. “90% of the plastic waste in our oceans comes from just 10 rivers in the world,” said Dan Bates, CEO of Clean-Seas. “If we don’t tackle the problem of the waste that is generated on-land, we will never begin to clean up the problem that exists in the oceans; we must shut off the spigot.”
Clean-Seas says it has established relationships with plastic recycling technology providers and will leverage its global experience in the renewable energy sector.
Chris Percy, President of Byzen Digital stated
“After meeting with Clean-Seas and understanding the scope of this global problem, and the company’s laser focus on how to address this growing crisis, it was clear to me that Clean-Seas has the right approach and established team to be successful and make a dramatic impact. This pending merger will not only be good for the Byzen shareholders, it will be a win for the planet and future generations,” continued Percy.
On April 1 the BYZN updated shareholders stating:
During the first quarter of this year, the Company received the final balance of twenty million (20 million) shares from its terminated strategic partnership agreement with The Axiom Partnerships. Further to The Axiom Partnerships full departure from Byzen Digital, the Company has entered into an LOI with Clean-Seas, Inc.
Byzen Digital’s President, Chris Percy said: “The first quarter of 2020 has been exceptionally busy for the Company. With the remaining 20 million shares now returned to treasury from The Axiom Partnerships, we can now focus on our restructure and the LOI with Clean-Seas.”
Byzen Digital will immediately commence restructuring and expects to regularly update its shareholders.
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Currently trading at a $13 million market valuation BYZN is a fairly clean shell with $2.7 million in liabilities according to a recent un audited filing. BYZN recently announced an LOI with Clean-Seas, a Delaware corporation established to address the global plastic waste issue on-land, mitigating what waste ends up in the oceans. Byzen will cease operations as a digital holding company and Clean-Seas will take over the Byzen operations allowing the combined company to focus on the global waste plastic crisis. Clean-Seas has established relationships with plastic recycling technology providers and will leverage its global experience in the renewable energy sector to set up waste to energy facilities in emerging and developed nations, all of whom must address their own waste plastic issues. The stock is making a strong move up the charts running off its $0.05 base on significant volume in recent days. Thursdays volume topped $1 million USD and investors are staring to take notice. We will be updating on BYZN when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with BYZN.
Disclosure: we hold no position in BYZN either long or short and we have not been compensated for this article.
Interesting article!