As previously announced, WPCS entered into various agreements to acquire BTX Trader LLC (BTX), an early stage technology company currently engaged in the development of a proprietary platform for the bitcoin industry, and issued 2,348 shares of its 12% Series E Preferred Stock, and warrants to purchase 1,500,000 shares of common stock exercisable at $5.00 per share in connection with the acquisition. Although no revenue is currently being generated, the BTX acquisition represents a new line of business to the Company.
The Company also announced that it would be seeking stockholder approval for various matters, including an amendment to its certificate of incorporation to increase the number of shares authorized for issuance to stockholders. The Company is required to reserve for issuance under the 12% Series E Preferred Stock and Warrants related to the BTX acquisition approximately 2.7 million shares of common stock. The additional shares the Company seeks to have authorized for issuance are required to satisfy prior contractual obligations and for future purposes, such as potential acquisitions or financings. The foregoing description is intended as a clarification and does not constitute a solicitation of any vote or proxy, which shall only be by virtue of a Proxy Statement filed with the SEC and distributed to stockholders containing additional information.
Bitcoin is a digital or virtual currency that uses peer-to-peer technology to facilitate instant payments. Bitcoin is a type of alternative currency known as a cryptocurrency, which uses cryptography for security, making it difficult to counterfeit. Bitcoin issuance and transactions are carried out collectively by the network, with no central authority, and allows users to make secure, verified transfers. BTX has developed and is currently beta testing a trading system to offer bitcoin traders advanced charting, trading blotters, and trading integration across five of the major bitcoin exchanges, which will
People were asking bitcoin questions they couldn't answer on the call like you've said that got me. Was kind of like a set up by some people to screw up the call. I seen it and I'm sure if you listen to the call the team from WPCS really did handle the call with underline anger control . Very impressive if you ask me
All the numbers are out and all the positives are in place
Its called seek and find
Interesting fact of having 250 people on their staff
Before considering the opportunity that WPCS presents, a few basics on the company's operations and day to day business.
Headquartered in Pennsylvania and with operations across the United States, China, and Australia, WPCS provides design-build engineering services for communications infrastructure worldwide. It currently employs a team of 250 staff, the vast majority of which are electrical engineers but which also includes a sales/administrative team and, of course, a small executive team. The company focuses on three main areas of operation; wireless communication, specialty construction, and electrical power. It is completely technologically independent, and provides a 360 degree service that includes design, project management, installation and maintenance.
Within the company's three main operational areas its focus is on markets with high demand for advanced communications and infrastructural technology. The main markets in which it operates are healthcare, public services, energy and corporate enterprise.