Everything Blockchain Acquires Trading Platform

Rhea-AI Summary

Everything Blockchain (OTCMKTS: OBTX) has announced the acquisition of ATrade Desktop Software for $1 million in cash. ATrade provides an online stock alerts service with features like risk management and order matching. The acquisition aims to enhance Everything Blockchain's trading services, integrating blockchain technology and launching a cryptocurrency trading platform. The company anticipates obtaining necessary licenses within three months and expects to operationalize all elements by year-end. This follows four acquisitions in 2021, expanding its product development capabilities.

Positive

• Acquisition of ATrade Desktop Software for $1 million enhances trading capabilities.
• Integration of blockchain technology into trading services could lead to market expansion.
• Expected multiple rollouts of new platform features within the year.
• Tracking at least four additional patents, potentially increasing innovation.

Negative

• Acquisition cost of $1 million could strain financial resources.
• Reliance on obtaining licenses may delay service rollout.
• Competition and regulatory uncertainties could impact future projections.

Jacksonville, Florida, Jan. 31, 2022 (GLOBE NEWSWIRE) -- Everything Blockchain, Inc. (OTCMKTS: OBTX), an advanced platform architect, development and services company and software foundry, specializing in blockchain technologies, decentralized processing, and zero trust applications, today announced that it has acquired ATrade Desktop Software^TM. The trading platform was acquired for $1 million in cash.

An alternative trading system vetted trading platform, ATrade Desktop is an online stock alerts service that provides visually simplified stock alerts, including risk management, stock selection and order matching.  The Company will seek appropriately licensing through multiple jurisdictions while enhancing the software through the use of Blockchain architecture and incorporating a cryptocurrency trading platform.  Everything Blockchain will leverage this state-of-the-art technology to develop its new EBI Platform®, which will provide additional front-end trading services and applications. The platform will include EBITrader®, EBITraderManagement® and EBITrading Services® to offer onboarding, management transfer of assets and more for traders.  The Company expects multiple rollouts as it obtains its licensing which could be as early as 3 months, with all elements operational by the end of this calendar year.  Everything Blockchain is tracking at least four additional patents in support of this new product and service.

“As we continue to grow our services, locations and technology throughout the country, we also want to make it easier for traders to access everything they need at their fingertips, which is exactly what this new platform will enable,” said Everything Blockchain CEO Eric Jaffe. “We look forward to adopting ATrade’s technology to enhance trading and access as Everything Blockchain compounds its growth and expands the use of cryptocurrency.”

This recent ATrade acquisition follows on the heels of the company’s four acquisitions in 2021, including Idaho-based Mercury, Inc., a move designed to expand its solution engineering and product development reach.

About Everything Blockchain

Headquartered in Jacksonville, Fla., Everything Blockchain, Inc. (OTCMKTS: OBTX) is a platform developer, specializing in systems’ architecture, and a software foundry of blockchain technologies, decentralized processing, Internet of Things and Zero Trust. For more information, please visit https://www.everythingblockchain.io/

Forward Looking Statements

This news release contains “forward-looking statements” which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan” or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of blockchain and zero trust- based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.

FAQ

What is the significance of Everything Blockchain's acquisition of ATrade Desktop Software?

The acquisition aims to enhance trading capabilities and integrate blockchain technology into its services, potentially leading to growth.

How much did Everything Blockchain pay for ATrade Desktop Software?

Everything Blockchain acquired ATrade Desktop Software for $1 million in cash.

When does Everything Blockchain expect to roll out the new trading platform?

The company expects to begin multiple rollouts within three months, with all features operational by the end of the calendar year.

What potential risks are associated with the acquisition of ATrade Desktop Software?

Potential risks include financial strain from the acquisition cost and uncertainties related to competition and regulatory approvals.