Millennium BlockChain Inc. (OTC: MBLC), a holding company focused on blockchain technologies and crypto-assets, today announced that its CEO will cancel five million shares of common stock.
The Company’s largest shareholder and its Founder and Chief Executive Officer, Mr. Romanek, has instructed the Company’s transfer agent to cancel five million shares owned by him to support the goals and objectives of the Company, maintain the book value of all remaining shares outstanding, and eliminate any dilution that might have been created from the Company’s $5 million investment in BurstIQ Analytics Corporation (“BurstIQ”). The cancellation of these five million shares in conjunction with the issuance of five million shares as part of the Company’s investment in BurstIQ is expected to maintain the Company’s total number of issued shares at approximately 118,985,891 million shares. Once the transfer agent has processed the cancellation, Mr. Romanek will own 100,316,332 shares.
“I am deeply committed to the vision of our company and our plan of action to increase shareholder value through investments in companies that are harnessing the power of blockchain technologies,” commented Brandon Romanek, CEO of Millennium BlockChain. “Proactively managing our capital structure to preserve the value we are creating is one of the keys to our success and our ability to grow beyond where we are today. By personally cancelling five million shares that I own, I want to reassure the investment community and convey my enthusiasm for where we are headed and the opportunities we see on the horizon. I expect to enact similar cancellations in the future.”
Additional information about the Company’s investment in BurstIQ can be viewed at https://www.prnewswire.com/
About Millennium BlockChain
Millennium BlockChain Inc. (OTC: MBLC) is a holding company primarily focused on blockchain technologies and crypto-assets in financial markets, healthcare, crypto-mining and high technology sectors. For more information, visit www.mblockchain.io.
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