Open Letter to OLB Group Shareholders Regarding Pending DMint Spin-Off
OLB Group (NASDAQ:OLB) has provided a status update on the pending spin-off of its Bitcoin mining subsidiary, DMint, Inc. The SEC's Division of Finance Office of Crypto Assets has indicated no further comments on the Registration Statement Form S-1, pending review of December 31, 2024 audited financial statements.
Key steps remaining for the DMint spin-off include: filing the December 31, 2024 audited financial statements (planned before March 31, 2025), clearing Nasdaq requirements, and announcing the official shareholder record date for share distribution.
DMint operates a Bitcoin mining facility in Tennessee, utilizing sustainable hydroelectric and solar power. The parent company, OLB Group, is a Fintech eCommerce merchant services provider with a MOOLA CLOUD platform distribution network spanning 31,600 convenient stores and bodegas across all fifty states.
OLB Group (NASDAQ:OLB) ha fornito un aggiornamento sullo stato della prevista scissione della sua sussidiaria di mining di Bitcoin, DMint, Inc. La Divisione Finanza dell'Office of Crypto Assets della SEC ha indicato che non ci sono ulteriori commenti sul Modulo di Registrazione S-1, in attesa della revisione dei bilanci auditati al 31 dicembre 2024.
I passi chiave rimanenti per la scissione di DMint includono: la presentazione dei bilanci auditati al 31 dicembre 2024 (programmata prima del 31 marzo 2025), il soddisfacimento dei requisiti di Nasdaq e l'annuncio della data ufficiale di registrazione degli azionisti per la distribuzione delle azioni.
DMint gestisce un impianto di mining di Bitcoin nel Tennessee, utilizzando energia idroelettrica sostenibile e energia solare. La società madre, OLB Group, è un fornitore di servizi merchant eCommerce Fintech con una rete di distribuzione della piattaforma MOOLA CLOUD che si estende su 31.600 negozi e bodega in tutti e cinquanta gli stati.
OLB Group (NASDAQ:OLB) ha proporcionado una actualización sobre el estado de la inminente escisión de su subsidiaria de minería de Bitcoin, DMint, Inc. La División de Finanzas de la Oficina de Activos Cripto de la SEC ha indicado que no hay más comentarios sobre el Formulario de Registro S-1, a la espera de la revisión de los estados financieros auditados al 31 de diciembre de 2024.
Los pasos clave restantes para la escisión de DMint incluyen: la presentación de los estados financieros auditados al 31 de diciembre de 2024 (prevista antes del 31 de marzo de 2025), cumplir con los requisitos de Nasdaq y anunciar la fecha oficial de registro de accionistas para la distribución de acciones.
DMint opera una instalación de minería de Bitcoin en Tennessee, utilizando energía hidroeléctrica sostenible y energía solar. La empresa matriz, OLB Group, es un proveedor de servicios de comercio electrónico Fintech con una red de distribución de la plataforma MOOLA CLOUD que abarca 31,600 tiendas y bodegas en los cincuenta estados.
OLB 그룹 (NASDAQ:OLB)는 비트코인 채굴 자회사인 DMint, Inc의 예정된 분사에 대한 상태 업데이트를 제공했습니다. SEC의 금융부서 암호자산 사무소는 2024년 12월 31일 감사 재무제표 검토를 기다리며 등록신청서 S-1에 대한 추가 의견이 없다고 밝혔습니다.
DMint 분사를 위한 남은 주요 단계는 2024년 12월 31일 감사 재무제표 제출(2025년 3월 31일 이전 예정), 나스닥 요구사항 충족, 주식 분배를 위한 공식 주주 기록 날짜 발표를 포함합니다.
DMint는 테네시에서 비트코인 채굴 시설을 운영하며, 지속 가능한 수력 및 태양광 에너지를 활용합니다. 모회사인 OLB 그룹은 50개 주 전역의 31,600개 편의점 및 보데가에 걸쳐 있는 MOOLA CLOUD 플랫폼 배급 네트워크를 갖춘 핀테크 전자상거래 상점 서비스 제공업체입니다.
OLB Group (NASDAQ:OLB) a fourni une mise à jour sur l'état de la scission imminente de sa filiale de minage de Bitcoin, DMint, Inc. La Division des Finances du Bureau des Actifs Cryptographiques de la SEC a indiqué qu'il n'y avait pas d'autres commentaires sur le Formulaire d'Enregistrement S-1, en attente de la révision des états financiers audités au 31 décembre 2024.
Les étapes clés restantes pour la scission de DMint incluent : le dépôt des états financiers audités au 31 décembre 2024 (prévu avant le 31 mars 2025), le respect des exigences de Nasdaq et l'annonce de la date officielle d'enregistrement des actionnaires pour la distribution des actions.
DMint exploite une installation de minage de Bitcoin dans le Tennessee, utilisant de l'énergie hydroélectrique durable et de l'énergie solaire. La société mère, OLB Group, est un fournisseur de services de commerce électronique Fintech avec un réseau de distribution de la plateforme MOOLA CLOUD s'étendant sur 31 600 magasins de proximité et bodegas dans tous les cinquante états.
OLB Group (NASDAQ:OLB) hat ein Statusupdate zur bevorstehenden Abspaltung ihrer Bitcoin-Mining-Tochtergesellschaft, DMint, Inc, bereitgestellt. Die Finanzabteilung der SEC hat keine weiteren Kommentare zum Registrierungsformular S-1 abgegeben, da die Überprüfung der geprüften Finanzberichte zum 31. Dezember 2024 aussteht.
Wichtige verbleibende Schritte für die Abspaltung von DMint umfassen: die Einreichung der geprüften Finanzberichte zum 31. Dezember 2024 (geplant vor dem 31. März 2025), die Erfüllung der Nasdaq-Anforderungen und die Bekanntgabe des offiziellen Stichtags für die Aktionärsaufzeichnung zur Aktienverteilung.
DMint betreibt eine Bitcoin-Mining-Anlage in Tennessee und nutzt nachhaltige Wasserkraft und Solarenergie. Die Muttergesellschaft, OLB Group, ist ein Anbieter von Fintech-E-Commerce-Dienstleistungen mit einem Vertriebsnetz der MOOLA CLOUD-Plattform, das sich über 31.600 Convenience-Stores und Bodegas in allen fünfzig Bundesstaaten erstreckt.
- SEC review progressing with no further comments on Form S-1
- DMint's Bitcoin mining operation uses sustainable energy sources
- Extensive distribution network of 31,600 stores nationwide
- Spin-off process facing delays
- Additional regulatory requirements pending from SEC and Nasdaq
- Final approval still contingent on December 2024 financial audit
NEW YORK CITY, NY / ACCESS Newswire / February 27, 2025 / OLB Group, Inc. (NASDAQ:OLB) ("OLB" or the "Company"), a diversified Fintech eCommerce merchant services provider and Bitcoin mining enterprise, issued the following status update on the Spin-off by the Company of its subsidiary, DMint, Inc., the OLB Group Shareholders'
Dear Shareholders,
Thank you for taking the time to read our letter and for your ongoing support of The OLB Group, Inc. We are aware that everyone has been anticipating the DMint spin-off and are wondering why it is taking so long and whether it will actually happen. We have decided to issue this letter to provide an update to our shareholders.
On Monday, February 24, 2025, the U.S. Securities & Exchange Commission Division of Corporation Finance Office of Crypto Assets indicated to us that they have no further comments at this time on our Registration Statement on Form S-1. However, the Registration Statement does remain subject to their review of the December 31, 2024 audited financial statements in a further amendment to the Registration Statement, which we plan to file prior to March 31, 2025.
Steps that have to happen to spin off DMint as a stand-alone company
File the December 31, 2024 audited financial statements.
Clear Nasdaq requirements.
Announce the official shareholder of record date for the distribution of shares.
Register to get instant updates on the progress of the spin-off at https://investors.dmint.com/
About DMint, Inc.
DMint, Inc. a Bitcoin mining enterprise and a wholly owned subsidiary of OLB Group, is engaged in the mining of Bitcoin in a facility in Tennessee, utilizing sustainable hydroelectric and solar power.
About The OLB Group, Inc.
The OLB Group, Inc. is a diversified Fintech eCommerce merchant services provider. The Company's eCommerce platform delivers cloud-based merchant services for a comprehensive digital commerce solution to merchants in all fifty states. The MOOLA CLOUD platform has a distribution network of 31,600 convenient stores and bodegas.
For more information about DMint, Inc. and alerts and updates please register https://investors.dmint.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 timing and expectation for consummating a spinoff of Dmint, the current status of the SEC review of the Registration Statement and the current status of Nasdaq's review. 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, which could cause actual results to materially differ from such statements. For other factors that may cause our actual events 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 events. The Company disclaims any intention to, and undertakes no obligation to, update or revise any forward-looking statement.
Contacts
DMint, Investor Relations
Rick Lutz
ir@Dmint.com
(212) 278-0900 Ext. 333
SOURCE: The OLB Group, Inc.
View the original press release on ACCESS Newswire
FAQ
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