Everything Blockchain Moves Corporate Headquarters

Rhea-AI Summary

Everything Blockchain, Inc. (OTCMKTS: OBTX) has officially relocated its headquarters to Jacksonville, Florida, following the beginning of demolition by controlling shareholder Overwatch Partners, Inc. This project anticipates a $7 million, 25,000 square foot technology center, with completion expected in approximately 30 months. CEO Eric Jaffe expressed enthusiasm for participating in the design of the new facility, committing to a 12-month lease at the new location. This strategic move aims to enhance the company's operational capabilities in blockchain and decentralized processing.

Positive

• Relocation to a new headquarters may improve operational efficiency.
• Commitment to a state-of-the-art technology center enhances long-term growth potential.
• Secured a 12-month lease, ensuring stability during transition.

Negative

• Dependence on the completion of construction, which may face delays.
• Inherent uncertainties associated with new projects could impact operational timelines.

Jacksonville, Florida, Nov. 01, 2021 (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 announced today that it has relocated its headquarters to 12574 Flagler Center Blvd, Suite 101, Jacksonville, Florida 32258.

The Company’s headquarters has previously been located on the property of Overwatch Partners, Inc., Everything Blockchain’s controlling shareholder. Overwatch Partners has begun demolition of the current structure which Everything Blockchain operated from, in anticipation to begin construction on a $7 million, 25,000 square foot state of the art technology center. Everything Blockchain intends to relocate to this facility upon completion, which is expected to be in approximately 30 months.

Eric Jaffe, Everything Blockchain Chief Executive Officer and Director stated, “We are excited to see Overwatch Partners begin the process of demolition and construction.  As an anchor tenant in the new technology center, we will play a significant role in design of this state-of-the-art facility. We look forward to finishing this project and finding a home for many years to follow. We have committed to a 12-month lease of our new headquarters.”

About Everything Blockchain:

Headquartered in Fleming Island, Florida, 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 (IoT), and Zero Trust.

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 recent change did Everything Blockchain, Inc. (OBTX) announce?

Everything Blockchain announced its relocation of headquarters to Jacksonville, Florida.

How much is Everything Blockchain investing in its new technology center?

The new technology center will cost approximately $7 million.

When is the new technology center for Everything Blockchain expected to be completed?

The completion of the new facility is expected in about 30 months.

What is the duration of the lease for the new headquarters of OBTX?

Everything Blockchain has committed to a 12-month lease for the new headquarters.