update from the companyI emailed the company asking for an update.... this is their response below
Hello Dan,
Thank you for your interest in our Company.
The Company is still moving forward with all its technology verticals, including its blockchain battery developments, its blockchain applications and its blockchain digital mining developments.
While I cannot provide you with any non-public material information, I can assure you that despite the dire economic conditions, the Company remains very committed to all its business pursuits and continues to make strategic decisions to maximize shareholder value for the long term. Whilst the Company was certainly affected by the battery cell and circuit board shortages of last year and now the downturn in the general market conditions, especially the digital currency industry; it has not deterred the Company from forging ahead to develop its business lines. The Company always endeavors to make decisions that support shareholder growth in the long-term, by staying ahead of market trends and adapting whenever necessary. The Company remains committed to pursuing growth in the digital currency space and believes that once the downturn is over it will be very favorably positioned for a upturn. The objective of the Company is to put its shareholders in a position to benefit the most from such an upturn in the digital currency markets.
We will be sure to announce any new material developments as they become available for all Shareholders.
In the meantime, please see our latest newsletter for the most recent publicly release corporate developments from the Company.
Wish you the very best.
BLOX Newsletter – September 2022
In this latest edition of its newsletter, CryptoBlox Technologies Inc. (“CryptoBlox” or the “Company”) would like to bring our valued shareholders up to date with a summary of its corporate developments.
The Company has always taken pride in its ability to adapt to market trends, focusing its resources on divisions which create the highest possible shareholder value. 5 years ago, the Company pivoted into the Blockchain space with a focus on Finance. In the latter part of 2020, the Company saw a growing trend in battery technology and focused its resources on acquiring and raising capital for battery technology products and services, leading to exponential growth for its shareholders through 2021. Since Q4 of 2021, the Company kept a keen eye on the market that was outperforming just about every other market segment; the digital currency market.
Consistent with its strategy to always keep on top of market trends, management has made the strategic decision to capitalize on this growing trend and focus its resources on its digital currency blockchain division. This commenced in late 2021 with the addition of Cryptoplug, a blockchain powered, GPS enabled EV charging application, which allows customers the option to pay via digital currency. The Company finished that year with the acquisition of Optimal, which launched the Company’s digital currency mining division.
Recent global events such a resurgence in COVID-19 cases, the ongoing war in Ukraine, and now the fight against inflation resulting in higher interest rates, has created a significant market correction across all industries, resulting in a bear market for the majority of 2022. Higher inflation has primarily been driven by higher energy prices, which is the most significant cost in digital currency mining, so plans for the Optimal build out suffered due to these factors. Furthermore, the global market corrections have been particularly punishing of volatile technology stocks and the Company has not been immune to share price corrections, making capital raises more difficult if trying to avoid dilution. However, while these hurdles have taken their toll on the Company and its share price, management remains committed to its shareholders and are more optimistic than ever about the future of the Company.
The Company sees the weak market conditions as an opportunity to seek great deals on acquisitions to continue to build its digital currency mining division, so it is positioned for a strong rally when the markets start to rebound and grow again. The Company believes that its diversified blockchain divisions, its management team, its board of directors, and its advisory board is a recipe for success and is putting in its best efforts to generate great shareholder value for the future.
As always, CryptoBlox is grateful to all of its loyal shareholders for their support and looks forward to a successful future together!
Investor Relations | 236 259 0279