Forward-Looking Statement: Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
Coin Citadel has filed its 2020 year end and 2021 year end financials with attorney letter. CCTL is now Pink Current as of June 2022 June 2021 - All historical financial information from old management has been removed from current financials posted to OTC Markets as it could not be verified.
CCTL is now Pink Current
July 2022 Update
The company will need a Form 211 cleared by FINRA in order for our team to review the Caveat Emptor label.
This requirement applies to all Caveat Emptor securities not eligible for proprietary broker quotations (Unsolicited Only). The Company may reach out for a review of the Caveat Emptor label after the Form 211 clearance and if the company continues to meet the qualifications for Pink Current Information tier. At that time, our team will request information and documentation from the company as part of the review.
You can find additional information on the Caveat Emptor policy here on our website: https://www.otcmarkets.com/learn/caveat-emptor
OTC Markets Group
2CRSI Deal is a lease to use contract, with payments starting upon final installation of servers. Servers were shipped to the USA spring of 2021 to a 2CRSI data center build out. Data center build out has had significant delays due to Covid, potential changes to NYS mining regulations and infrastructure complications. CCTL did not take possession of servers. CCTL and 2CRSI are working on a solution to resolve this issue and get servers deployed.
CCTL deployed 1PH of BTC ASIC miners to Illinois to be managed by Zafra in 2021, this contract is now up. These miners were also old gen (manufactured before 2019) which are now no longer profitable at the current BTC price and difficulty rate.
The 2022 Bitcoin winter has left a lot of miners scrambling to sell their holdings in order to continue their activities and some have been forecasted to go bankrupt in the coming months if the low prices persist. CCTL is currently looking for new mining opportunities and equipment as other miners are forced to liquidate in the down market.
This presentation is not, and nothing in it should be construed as, an offer, invitation or recommendation in respect of the Company’s credit facilities or any of the Company’s securities, or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy, the facilities or any of the Company’s securities in any jurisdiction. Neither this presentation nor anything in it shall form the basis of any contract or commitment. This presentation is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate.
The Company has prepared this presentation based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein. These projections should not be considered a comprehensive representation of the Company’s cash generation performance.
The financial information included in this presentation is preliminary, unaudited and subject to revision upon completion of the Company's closing and audit processes. This financial information has not been adjusted to reflect the outcome of any reorganization of the company’s capital structure, the resolution or impairment of any pre‐petition obligations, and does not reflect fresh start accounting which the company may be required to adopt.
All forward–looking statements attributable to the Company or persons acting on its behalf apply only as of the date of this document, and are expressly qualified in their entirety by the cautionary statements included elsewhere in this document. The financial projections are preliminary and subject to change; the Company undertakes no obligation to update or revise these forward–looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Inevitably, some assumptions will not materialize, and unanticipated events and circumstances may affect the ultimate financial results. Projections are inherently subject to substantial and numerous uncertainties and to a wide variety of significant business, economic and competitive risks, and the assumptions underlying the projections may be inaccurate in any material respect. Therefore, the actual results achieved may vary significantly from the forecasts, and the variations may be material.
CCTL - Coin Citadel - Coin Citadel Bitcoin Mining Division - Is in no way related to or associated with
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