BLOCKQUARRY CORP - BLQC STOCK NEWS

BlockQuarry Corp. (OTC: BLQC) reported significant growth for the 2022 fiscal year, achieving a remarkable 520% year-over-year increase in total revenues, reaching $5.96 million compared to $960,000 in 2021. The company's total assets stood at $8.64 million, down from $10.79 million in 2021, impacted by a $3.56 million write-off in accumulated depreciation. Current liabilities decreased by 4.3% to $15.4 million. Operationally, BlockQuarry settled over $5 million in debts and secured an additional $1.25 million in nondilutive funding. The company is also pursuing an uplisting to the NASDAQ Capital Market, signaling future growth potential.

BlockQuarry Corp. (OTC: BLQC) has outlined its operational and growth strategy for Q2 2023, focusing on cryptocurrency hosting and self-mining. Key initiatives include completing the 2022 annual audit, reducing liabilities, and powering self-mining equipment. The company aims to extend land contracts and secure additional power agreements, enhancing its operational footprint. President Alonzo Pierce emphasizes the importance of these tasks as foundational steps towards a potential Nasdaq uplisting. The company plans to increase shareholder equity by strengthening assets and cleaning up the balance sheet, aiming for industry-leading service provider status.

BlockQuarry Corp. (OTC: BLQC) has announced securing $1.25 million in funding through Preferred B Shares, enhancing its asset profile and marking a historic shift to positive shareholder equity of approximately $500,000. This transformation results from a $6.3 million turnaround from a negative $5.8 million at Q3 2022. The company has also cancelled $5 million in convertible debt and reduced overall liabilities by 30%. Alonzo Pierce, the president, emphasized this milestone as a vital step toward delivering shareholder value and progressing toward Nasdaq listing. BlockQuarry focuses on cryptocurrency hosting and self-mining operations.

BlockQuarry Corp. (OTC: BLQC) has signed a Letter of Intent (LOI) to merge with Minerset Holdings LLC, aiming for a full merger pending a definitive agreement. This strategic partnership is positioned to enhance BlockQuarry's operations in cryptocurrency mining, particularly Bitcoin, by leveraging Minerset’s experience in sustainable mining and logistics. Minerset has generated over $300 million in revenue and distributed over 120,000 mining devices globally, which could provide substantial synergies and new revenue streams for BlockQuarry. CEO Alonzo Pierce anticipates this merger will bolster their market presence and support an eventual Nasdaq uplisting.