LAS VEGAS, April 26, 2018 /PRNewswire/ -- Millennium BlockChain Inc. (OTC: MBLC) (the "Company"), a holding company focused on blockchain technologies and crypto-assets, today announced that its CEO will cancel five million shares of common stock.
The Company's largest shareholder and its Founder and Chief Executive Officer, Mr. Romanek, has instructed the Company's transfer agent to cancel five million shares owned by him to support the goals and objectives of the Company, maintain the book value of all remaining shares outstanding, and eliminate any dilution that might have been created from the Company's $5 million investment in BurstIQ Analytics Corporation ("BurstIQ"). The cancellation of these five million shares in conjunction with the issuance of five million shares as part of the Company's investment in BurstIQ is expected to maintain the Company's total number of issued shares at approximately 118,985,891 million shares. Once the transfer agent has processed the cancellation, Mr. Romanek will own 100,316,332 shares.
"I am deeply committed to the vision of our company and our plan of action to increase shareholder value through investments in companies that are harnessing the power of blockchain technologies," commented Brandon Romanek, CEO of Millennium BlockChain. "Proactively managing our capital structure to preserve the value we are creating is one of the keys to our success and our ability to grow beyond where we are today. By personally cancelling five million shares that I own, I want to reassure the investment community and convey my enthusiasm for where we are headed and the opportunities we see on the horizon. I expect to enact similar cancellations in the future."
Additional information about the Company's investment in BurstIQ can be viewed at https://www.prnewswire.com/news-releases/millennium-blockchain-closes-5-million-strategic-investment-in-burstiq-300636012.html .
About Millennium BlockChain
Millennium BlockChain Inc. (OTC: MBLC) is a holding company primarily focused on blockchain technologies and crypto-assets in financial markets, healthcare, crypto-mining and high technology sectors. For more information, visit www.mblockchain.io.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "beliefs," "estimates," "expects," "intends," " plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risk, and uncertainties, and by reference to the underlying assumptions.
SOURCE Millennium BlockChain Inc.