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OLB Group Obtains Valuation from Independent Valuation & Appraisal Firm
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
The OLB Group, Inc. (NASDAQ: OLB) has received a $240 million valuation from Corporate Valuation Advisors, Inc. as of December 31, 2021. This valuation reflects OLB's growth attributed to new merchant acquisitions and business ventures. Following this, OLB closed its acquisition of Crowd Ignition and expanded its cryptocurrency mining operation with a new lease of 10,000 square feet in Bradford, Pennsylvania. The valuation indicates a significant increase in company value during the fourth quarter of 2021.
Positive
Achieved a valuation of $240 million as of December 31, 2021.
Acquired Crowd Ignition, expanding service offerings.
Secured a 10,000 square feet lease for cryptocurrency mining operations.
Negative
None.
NEW YORK--(BUSINESS WIRE)--
The OLB Group, Inc. (NASDAQ: OLB) ("OLB", the "Company"), an emerging FinTech company leveraging proprietary omnicommerce and blockchain technology to build customized payment solutions today announced that the company has received a $240 million valuation from Corporate Valuation Advisors, Inc., an independent valuation and appraisal firm that provides valuation advisory services and fairness opinions to public and private companies. OLB engaged the firm to determine the company’s fair market value and provide a comparison to similar companies in the industries where OLB does business. OLB received the valuation as of December 31, 2021, and since then has closed its acquisition of Crowd Ignition and expanded its cryptocurrency mining operation by securing 10,000 square feet of leased space in Bradford, Pennsylvania.
The valuation noted that the company increased its value in the fourth quarter of 2021 as the result of the addition of new merchants and the formation of several new business ventures included in the year-end projections.
Interested investors or shareholders can be notified of future Press Releases and Industry Updates by e-mailing investorrelations@OLB.com.
Safe Harbor Statement
All statements from The OLB Group, Inc. in this news release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements concerning the impact of COVID-19 on our operations and financial condition, our ability to implement our proprietary merchant boarding and CRM system and to roll out our Omni Commerce and SecurePay applications, including payment methods, to our current merchants and the integration of our secure payment gateway with our crowdfunding platform, our ability to successfully launch a cryptocurrency mining operation and our ability to earn revenue from the new operations. While the Company’s management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include statements regarding the expected revenue and income for operations to be generated by The OLB Group, Inc. For other factors that may cause our actual results to differ from those that are expected, see the information under the caption "Risk Factors" in the Company’s most recent Form 10-K and 10-Q filings, and amendments thereto, as well as other public filings with the SEC since such date. The Company operates in a rapidly changing and competitive environment, and new risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. The Company disclaims any intention to, and undertakes no obligation to, update or revise any forward-looking statement.
About The OLB Group, Inc.
The OLB Group, Inc. is a payment facilitator and commerce service provider that delivers cloud-based merchant services for web-based and brick-and-mortar organizations. OLB provides a seamless, end-to-end digital commerce solution that includes site creation, hosting, transaction processing and payment gateway, order fulfillment, customer service, outbound marketing, sales reporting, and fundraising. With services from private label shopping sites designed to maintain the unique look or feel of the merchant website, to order fulfillment and customer service, OLB remains invisible to the user and promotes the merchant’s brand with market-leading technology and solutions. For more information about solutions, services, or to find a reseller, please visit www.olb.com. Investor information is available at www.olb.com/investors-data.
