Shares of Lengthy Bitcoin Corp (LBCC), a beverage turned cryptocurrency mining firm, have been formally delisted by the USA Securities and Alternat
Shares of Lengthy Bitcoin Corp (LBCC), a beverage turned cryptocurrency mining firm, have been formally delisted by the USA Securities and Alternate Fee, or SEC.
The corporate was ordered to delist its inventory after failing for years to provide any monetary reviews. Lengthy Bitcoin Corp’s final earnings report was for the quarter ending September 30, 2018, based on Bloomberg.
Lengthy Bitcoin Corp is registered within the state of Delaware, based on SEC submitting data.
Initially referred to as Lengthy Island Ice Tea, Lengthy Bitcoin rebranded through the top of crypto euphoria in January 2018. That was shortly after Bitcoin (BTC) peaked in worth and proper across the time that altcoins hit new all-time highs. On the time, Lengthy Blockchain stated there “might be no assurance” that it will likely be profitable in growing distributed ledger expertise.
In line with the SEC, the corporate’s shift from drinks to blockchain by no means materialized. Beneath the circumstances of the SEC’s order, Lengthy Blockchain agreed to have its shares revoked with out admitting or denying the regulator’s findings.
As Cointelegraph beforehand reported, Lengthy Blockchain was in monetary bother lengthy earlier than the rebranding. The tech-heavy Nasdaq change delisted the corporate in April 2018 because of low market capitalization.
As of Friday — presumably, its remaining buying and selling day — Lengthy Blockchain Corp was value $1.12 a share for a complete market worth of $32.7 million.
LBCC share costs surged through the top of the 2017-18 bull market earlier than declining precipitously over a four-month interval. The corporate was primarily a penny inventory between 2018 and 2020.