NEW YORK, Dec. 2, 2015 /PRNewswire/ -- Costas Inc. (CSSI) (OTC Pink: CSSI) and AuthentaTrade Inc. (the Company) are pleased to announce that AuthentaTrade (AT) has retained Cyprus law firm Parparinos Milonas Corporate & Legal Consultants to assist the Company in becoming a licensed Cyprus Investment Firm (CIF). This designation will enable AuthentaTrade to operate as a regulated entity throughout the European Union and is a major step forward for the Company as it evolves into a significant player in the Bitcoin and digital currency space.
Costas owns 48% of AuthentaTrade Ltd.
The investment services the Company seeks to be permitted to perform as a CIF include executing investment orders on behalf of clients, and operation of a multilateral trading facility, such as our AuthentaTrade Bitcoin Exchange and Wallet Platform.
"This is a significant step forward for the Company," commented AuthentaTrade CEO Gwyn Jones. "The development of our proprietary Bitcoin Trading Platform has been a technical challenge of incredible proportions. We're proud of our achievements on that front. Now with the license to operate a trading facility that is recognized by the EU and internationally we become a legitimate financial entity in the eyes of the investment community."
Obtaining an investment firm license has been a major goal of AuthentaTrade since it first started building its trading platform in 2014. Although some Bitcoin Exchanges around the world operate in a grey area with neither licensing nor the approval of investment regulators, it was clear to AuthentaTrade and its investors from the outset the our business model would include offering a full suite of digital exchange services related to the digital currency market. With CIF accreditation, the Company will have the assurance that all the business it conducts is both legitimate and legal.
Visit us today at www.costasinc.com.
Safe Harbor Act Notice:
Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the company's ability to obtain additional financing and the demand for the company's products. Any investment in the company would be extremely speculative and involve a high degree of risk and should not be pursued unless the investor could afford to lose their entire investment. Before investing, please review this filing, all past public filings with the SEC, all current Pinksheets.com filings and consult a registered broker dealer or contact the financial industry regulatory authority ("FINRA") for more information regarding locating a qualified party to assist in making an investment decision. The company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the company's success are more fully disclosed in the company's most recent public filings with the U.S. Securities and Exchange Commission. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
About Costas Inc.
Costas Inc. is a publicly traded company focused on investing in and incubating promising digital currency-based businesses and entrepreneurs by providing access to a global infrastructure of financial and legal professionals and investment groups. Costas identifies "Fintech" emerging companies that, with some incubation and professional experience, will become the next standard in banking, commercial trading and lending.
Contact information for Costas Inc.
AuthentaTrade Inc. has created Bitcoin exchange platform using Blockchain technology. The Company is poised and committed to becoming the leader in the burgeoning digital currency financial landscape. AuthentaTrade's goal is to help stabilize the digital currency market by providing bank-level system architecture and security for depositors, and by introducing market liquidity where it has never previously existed.
Contact info for AuthentaTrade Inc.
About Parparinos Milonas Corporate & Legal Consultants
Parparinos Milonas Corporate & Legal Consultants is a full-service Business Law Firm and Fiduciary Service provider that supports an array of industries – among them, Banking, Entertainment, Finance, Corporate, Intellectual property, Litigation, Real estate and Tax in both national and international markets. The Firm is established and based in Cyprus by a Team of highly qualified Legal, Management and Corporate Finance Professionals, engaging in a number of transactions daily involving a variety of spoken languages.
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SOURCE Costas Inc.