Jacksonville, FL, Jan. 24, 2018 (GLOBE NEWSWIRE) — mCig, Inc. (MCIG) subsidiary OBITX, Inc. (www.obitx.com), a Blockchain Technology Company providing ICO advisory services, blockchain consulting services, and blockchain-related software development, announced today the successful showcase of its partner Krypnetwork ATM (www.krypnetwork.com) at the North American Bitcoin Convention in Miami, FL, resulting in a 12 million commitment by investors in the short span of two days.
“What KrypNetwork demonstrated at the conference was not only just how easy and accessible the ATM kiosk will make cryptocurrency to the masses,” voiced Obitx CEO Alex Mardikian, “But- the true potential and power of utilizing ad networks to promote businesses on displays within the consoles in locations around the globe.”
Obitx Inc. will provide its proprietary eHESIVE ad network as a fully integrated platform exclusively within the KrypNetwork system. This will add tangible real estate to its digital marketing services giving businesses the ability to show their advertisements in real time and on location.
The buzz generated from the KrypNetwork was enough to help the formation of a new partnership between Obitx, Inc., and the revolutionary nightlife and events booking app Inlist, Inc. available on the Apple and Google Play stores. Under the terms of their agreement, Obitx Inc. will be responsible for providing IT advancements to the current offering, technical services and support, and brand marketing to include specialized exclusive InList Ad Network on the eHESIVE network tied to extended marketplace for preferential and limited advertised items and/or experiences.
The ICOmethod division of Obitx is rapidly moving forward by providing consulting, marketing, and advisory services in addition to taking an equity position in two upcoming companies pre-ICO projects, that will bring in multiple revenue streams.
Mcig Inc. wants to update its shareholders that the S-1 application with U.S. Securities and Exchange Commission (SEC) for Obitx is planned for next week.
About OBITX, Inc
OBITX Inc. is a Blockchain Technology Company providing ICO advisory services, blockchain consulting services, and blockchain-related software development.
The company is primarily engaged in the business of developing technologies for, or in connection with, digitally distributed ledgers or blockchains, and in developing new platforms and digital objects that are made available to other companies, firms, and individuals using cryptocurrency networks and technologies. The company’s business includes the development of blockchain technologies and cryptographic products, including virtual currencies and tokens.
The blockchain-focused business model of Obitx intends to identify and invest in unique projects and intellectual property which combine blockchain technology and real-world applications with its talented development teams and management of strong fundamentals. The success of Krypto Network project at the convention made Obitx, Inc., proud of its strategic investment. “What KrypNetwork put on display over the weekend was not just how
About mCig Group (MCIG)
Headquartered in Henderson, Nevada, mCig, Inc. (OTCQB MCIG ) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. mCig, Inc. is committed to being the leading distributor of technology, products, and services to fit the needs of a rapidly expanding industry. mCig, Inc. has transitioned from a vaporizer manufacturer to industry leading large scale, full-service cannabis cultivation construction company with its Grow Contractors division currently operating in the rapidly expanding Nevada market.
mCig, Inc. also employs a world-renowned tech team and has recently entered the tech space to satisfy its evolving role in technology and in keeping its growing following up to speed.
The company looks forward to growing its core competencies to service the ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. With over seventy-five years of experience combined between the key players that make up the Cannabis Grow Contractors Division, mCig Inc. is proud to work with Cannabis Industry leaders and provide broad and rounded solutions for legal growers nationwide.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company’s products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies.
This release contains a non-GAAP disclosure, EBIDTA, which consists of net income plus interest expense, as well as net provisions for income taxes, depreciation, and amortization. This term, as the Company defines it, may not be comparable to a similarly titled measure used by other companies and is not a measure of performance presented in accordance with GAAP. The Company uses EBIDTA as a measure of operating performance. EBIDTA should not be considered as a substitute for net income.
CEO – Alex Mardikian