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San Juan, PUERTO RICO, July 13, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- BOTS, Inc. (OTC: BTZI) (GERMAN EXCHANGE: M06.SG), an emerging innovator of products, technologies, and services for the rapidly growing digital robotic automation and manufacturing industry, announced today that it bought a majority of First Bitcoin’s digital and crypto assets and related technologies.
Bots, Inc. and First Bitcoin will now begin to enter into long-term service and project development agreements, providing reliable and cost-advantaged product development services for a wide variety of projects including Artificial Intelligence and Machine Learning. BTZI and BITCF together have significant expertise and capabilities that will deliver operational efficiencies and opportunities for growth and profitability over time combining digital robotics with blockchain to improve security and user friendly applications.
BOTS, Inc. and First Bitcoin are working closely to ensure a seamless transition. The Asset Purchase transaction was closed on May 14th 2020 including but not limited to the following BITCF assets:
Minority ownership interests in:
- SinglePoint, Inc.,
- Medical Cannabis Payment Solutions, Inc.,
- Petroteq Energy, Inc.,
- Digital Asset Monetary Network, Inc.,
- Kronos Advanced Technologies, Inc.,
- Tipestry, Inc.; (PRIVATELY OWNED)
Subsidiaries transferred from First Bitcoin Capital Corp., included but were not limited to:
CoinQx Exchange Limited,
First Bitcoin Capital LLC.,
D’BOT Technology Corp.;
Included in the transference were hundreds of Internet domains previously owned by First Bitcoin Capital Corp. including but not limited to altcoinmarketcap.com;
$1,250,000 in face value Convertible Promissory Notes issued by Kronos Advanced Technologies to First Bitcoin Capital LLC.;
US Patent 9,135,781 B1 Bitcoin Kiosk/ATM Device and System Integrating Enrollment Protocol and Method of Using the Same;
US Patent Application 2018/0315072 A1: Method and System of Facilitating Management of Cryptocurrency Based Loyalty Points Associated With One or More of a Product and a Service;
The majority of the inventory of more than 100 digital cryptocurrencies previously owned by First Bitcoin Capital Corp. The most significant of the transferences of cryptocurrencies to Bots Inc. included but were not limited to the majority ownership of First Bitcoin, a cryptocurrency based on a unique blockchain similar to an improved version of Litecoin and President Trump, a commemorative crypto election coin. Both these coins trade on Livecoin.net with BIT included on the premier website for tracking of cryptocurrencies at https://coinmarketcap.com/currencies/first-bitcoin/
In exchange for the acquisition of these assets, BOTS, Inc. issued 100,000,000 of its shares of common stock and 30,000,000 Series A Preferred stock to First Bitcoin Capital, with a pledge to issue an additional 60,000,000 shares of Series A Preferred upon reaching certain milestones.
All Series A Preferred shares are to be retained by First Bitcoin Capital Corp. The 100,000,000 million shares of common stock are to be distributed to the shareholders of First Bitcoin Capital, where each shareholder shall receive 1 share of BTZI common stock for every 4 shares of First Bitcoin Capital stock owned with any remaining shares to be retained by First Bitcoin Capital Corp. upon a record date being set by First Bitcoin Capital Corp.
As the largest shareholder of BOTS Inc., two members of First Bitcoin’s management team are expected to join the BOTS, Inc.’s board of directors.
Further details about these assets can be reviewed in First Bitcoin’s voluntarily withdrawn SEC 20F filing: https://secfilings.nasdaq.com/filingFrameset.asp?FilingID=13835398&RcvdDate=1/8/2020&CoName=FIRST%20BITCOIN%20CAPITAL%20CORP.&FormType=20FR12G&View=html
Robotic Automation in manufacturing is driving US growth. According to a survey recently released by Boston Consulting Group, companies that sell goods in the US and plan to add production capacity, plan to add that capacity in the US more than in any other country. One driver of this shift, according to the survey, can be attributed to increases in automation technology. This includes robotic automation in manufacturing. Increases in automation combined with other advantages such as skilled labor, supply chains, and customer proximity are driving companies to bring or return their production to the US.
Industrial robots have been around for over 40 years and have advanced robotic automation in manufacturing. But, according to BCG, 90% of all tasks in manufacturing are still performed manually.
“There’s no question industrial robots have had a large impact but we believe in the coming post pandemic times, there will be even larger opportunities and markets to develop which will extensively expand into digital robotics enhancing the maturing Internet and the Blockchain revolution. We are on a 4th generation of automation - what is known now as ‘Industry 4.0’,” commented Paul Rosenberg - BOTS, Inc. CEO.
About First Bitcoin Capital Corp
First Bitcoin Capital Corp (OTC:BITCF) is the largest shareholder of Bots, Inc. as a result of exchanging the majority of its assets therefor, but began developing digital currencies, proprietary blockchain technologies, and the digital currency exchange - www.CoinQX.com (in Beta) in early 2014. We saw this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex blockchain technologies and in developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company, we provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies.
The Company began developing its own blockchain and cryptocurrency called First Bitcoin in 2016. Prior to transferring the majority of this asset to Bots, Inc., the Company updated the BIT wallet and added more functionality. Users are able to generate BIT through the processes of POW and POS mining. The First Bitcoin cryptocurrency has a current supply of 20,707,629,255 BIT. It is currently trading on LIVECOIN.net with its explorer at www.explorer.bitcf.net.
Contact us via: email@example.com or visit www.firstbitcoin.io
follow us on Twitter; @1stBitCapital
follow us on Linkedin: https://www.linkedin.com/company/first-bitcoin-capital-corp
follow us on FaceBook: https://www.facebook.com/BITCF/
About BOTS, Inc.
Headquartered in San Juan, Puerto Rico, BOTS, Inc. - publicly traded on the OTC Markets under the symbol (BTZI) and on Börse Stuttgart under ticker (M06.SG) - is a diversified company developing and servicing blockchain solutions and robotics for its clientele. The Company is committed to drive the innovations needed to shape the future of digital robotic automation management through digital technology and decentralized blockchain solutions. Management is dedicated to the strong growth of Distributed Asset Technology and Robotic Process Automation (RPA).
Bots, Inc. has been featured in media nationwide, including CNBC, Bloomberg, TheStreet.com. For more information, visit http://www.bots.bz
Visit us on Facebook @ https://www.facebook.com/Bots.Bz/
Follow us on Twitter @Bots_bz
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's website and filings.