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The OLB Group, Inc., trading under the symbol OLB on NASDAQ, is a multifaceted fintech enterprise headquartered in New York, New York. Established in 1993, the company is renowned for its diversified services in payment facilitation and Bitcoin mining. OLB Group offers a comprehensive array of payment solutions and business management tools that cater to a vast array of merchants across the United States.
One of OLB's flagship offerings is Omnisoft, a cloud-based business management platform designed to help merchants streamline their operations both online and in physical retail environments. Complementing this is Evance, a robust payment processing solution, and SecurePay, a payment gateway and virtual terminal equipped with proprietary business management tools. Additionally, OLB Group powers Crowdpay.us, a white-label capital raising platform, as well as ShopFast, an omni-channel platform that facilitates consumer transactions from various business sectors.
In recent developments, OLB Group has expanded into the eSIM technology market, targeting the unbanked sector with two new prepaid wireless phone services—Black Wireless and Mango Mobile. These services aim to provide cost-effective and efficient solutions for budget-conscious consumers.
The company also runs DMint, a Bitcoin mining subsidiary that operates a facility in Tennessee utilizing renewable energy sources such as hydroelectric and solar power. This venture underscores OLB's commitment to sustainable and forward-thinking business practices.
OLB Group's latest financial results for Q1 2024 indicate a revenue of $3.5 million, which signals a challenging yet dynamic business environment. Despite a net loss of $2.9 million, the company continues to make strategic investments, including the acquisition of the remaining 19.9% of its subsidiary Black011, enhancing its reach and service offerings.
For more information, visit The OLB Group, Inc.
The OLB Group, Inc. announced a one-for-ten reverse stock split effective May 6, 2024. Shareholders approved the split, reducing outstanding shares from 18,103,462 to approximately 1,810,346. The company's ticker symbol remains 'OLB'. The split aims to increase the market price per share to maintain Nasdaq listing.
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