ORPHEUM Property, Inc. Corrects Release Regarding Crypto Tokens

Rhea-AI Summary

Correction Notice: Orpheum Property, Inc. (OTC: PLFF) issued a correction to its March 11, 2022 press release. The correction relates to the company's transaction involving 31,911 XUSD Prime (XUSDP) crypto coins, which were contracted for $25 million. The firm sold 5,000 XUSDP coins for a $5 million Promissory Note. Currently, the Company is collaborating with RoRa Corp to develop its own tokens, separate from XUSD Blockchain Holdings. Forward-looking statements reveal management's belief and expectations regarding future operations.

Positive

• Engaged in a partnership with RoRa Corp to develop proprietary tokens.
• Successfully contracted $25 million in crypto tokens.

Negative

• Potential risks and uncertainties related to future performance.

CORRECTION NOTICE FROM PREVIOUS RELEASE DATED MARCH 11, 2022

CHARLOTTE, N.C., March 23, 2022 /PRNewswire/ -- ORPHEUM Property, Inc. (OTC: PLFF) (the "Company"), a Delaware corporation, issued a release on March 11, 2022, providing an Update on Tokens which requires the following correction:

Update on Tokens

In October 2021, the Company published a release reporting that it had contracted to receive $25,000,000 in XUSD Prime (XUSDP) crypto coins, offset by a Convertible Note for the tokens being developed by the Company. The Company received 31,911 XUSDP coins that began marketing in late 2021 at a rate exceeding the purchase price paid. The Company subsequently sold 5,000 XUSDP coins to a related party in early 2022 in exchange for a Promissory Note in the amount of $5,000,000.

The Company is also currently working with RoRa Corp to develop its own tokens based on the RoRa Prime platform and using its own assets. RoRa Corp has no relation to or affiliation with XUSD Blockchain Holdings and has no contracts or other agreements using XUSD coins.

About RoRa Corp:

RoRa Corp, based in Ciudad de Mexico, is a collection of disruptors who have embraced blockchain technology in order to identify and eliminate the existing inefficiencies and outdated processes that have plagued previous models. The firm was founded by bankers, cryptocurrency specialists, Fintech consultants, and other alternative investment experts. RoRa Corp is paving the way for digital monetization, allowing asset holders and financial institutions to buy and profit from stable coins and gold coins for their assets. RoRa's objective is to provide one million investors and high-quality asset holders the opportunity to benefit from the economic prosperity that a blockchain future promises.

Forward-Looking Statements:

Statements herein express management's beliefs and expectations regarding future performance and are forward-looking and involve risks and uncertainties, including, but not limited to, raising working capital and securing other financing, responding to competition and other risks. Actual results may differ materially from such forward-looking statements.

View original content:https://www.prnewswire.com/news-releases/orpheum-property-inc-corrects-release-regarding-crypto-tokens-301509389.html

SOURCE ORPHEUM Property, Inc.

FAQ

What correction was made in Orpheum Property Inc.'s March 23, 2022 press release?

The correction clarified details regarding the acquisition and sale of XUSD Prime (XUSDP) crypto coins.

What did Orpheum Property Inc. report about its crypto transactions?

The company reported having contracted $25 million in XUSD Prime tokens, receiving 31,911 coins and selling 5,000 coins for a $5 million Promissory Note.

Who is RoRa Corp and what is its relation to Orpheum Property Inc.?

RoRa Corp is a blockchain firm with no affiliation to XUSD Blockchain Holdings, collaborating with Orpheum to develop its own tokens.

What are the forward-looking statements mentioned by Orpheum Property Inc.?

They encompass management's beliefs regarding raising capital and responding to competition, highlighting potential risks.

What financial figures are associated with Orpheum Property Inc.'s crypto operations?

The company contracted for $25 million and sold 5,000 XUSDP coins for $5 million.