U.S. Markets closed

The Crypto Company Reports Removal Of Going Concern Designation

  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

MALIBU, Calif., May 26, 2021 /PRNewswire/ -- The Crypto Company (OTC: CRCW), an emerging company that provides consulting services and education for distributed ledger technologies ("blockchain") for the building of enterprise blockchain technology solutions, today announced that references to its "going concern" qualification were not included in its recently filed Quarterly Report on Form 10-Q for the quarter ended March 31, 2021.

(PRNewsfoto/The Crypto Company)
(PRNewsfoto/The Crypto Company)

We are proud to announce that due to our improved balance sheet, statements regarding there being "substantial doubt about the ability of the Company to continue as a going concern" were not included in the Company's most recently quarterly report filed with the SEC. For the past several years (including for the year ended December 31, 2020), the audit reports to The Crypto Company's consolidated financial statements have included a "going concern" qualification and prior quarterly reports also contained cautionary language regarding the Company's ability to continue as a going concern.

Ron Levy, Chairman and CEO stated, "Being in a position to no longer include going concern qualifications in a report we filed with the SEC should provide confidence in our customers, shareholders, and the capital markets. We remain absolutely focused in executing our long-term strategy to continue the growth of the Company. During the past year we have completed a significant acquisition, improved our liquidity, and believe that we are on a path to execute upon our long-term strategy of increasing shareholder value. We will continue to seek opportunistic acquisitions as well as working diligently to organically growing our revenues."

About The Crypto Company:
The Crypto Company is engaged in the business of providing consulting services and education for distributed ledger technologies, for the building of technological infrastructure and enterprise blockchain technology solutions.

Forward-Looking Statements:
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of The Crypto Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond The Crypto Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with The Crypto Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions, and other factors discussed in detail in The Crypto Company's periodic filings with the Security and Exchange Commission.

Cision
Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/the-crypto-company-reports-removal-of-going-concern-designation-301299774.html

SOURCE The Crypto Company