OBITX, Inc Takes First Step To Acquire Check Cashing Operations
Fleming Island, Florida, Dec. 22, 2020 (GLOBE NEWSWIRE) -- December, 22, 2020 Fleming Island, Florida, OBITX, Inc (OTC:OBTX), an advanced software development and services company specializing in blockchain technologies and decentralized processing, announced today it has signed an LOI in order to negotiate the final terms for entering into a binding purchase agreement for the purpose of acquiring a check cashing kiosk business from Kronos Advanced Technologies, Inc. (OTC:KNOS). OBITX sees this transaction as a stepping stone in developing and acquiring a larger, related chain of check cashing machines throughout the US. OBTX is planning to offer discounted check-cashing services and will promote the new services through online advertising, in-store signs, and special events, all aimed at consumers who use a check-cashing services.
Web-enabled check cashing kiosks merge unique and exclusive check cashing capabilities with Internet-based applications. Upon the final acquisition OBTX will begin development of Bitcoin buy/sell capabilities to be integrated into a nationwide network of a growing number of kiosks. Services OBITX Company plans to integrate will include BITCOIN ATM transactions, money orders and transfers as well as check cashing.
Michael Hawkins, the OBITX CEO stated, “With our goal of acquiring a larger database of customers having several hundred already placed check cashing machines Nationwide, if successful in moving to this next phase, we will be able to expand the current services offered with additional blockchain and cryptocurrency features to be added down the road. This is a highly strategic step in the development of our business model. We believe this is the right fit for our team with emphasis on our passion for development. We thank our largest preferred shareholder, BOTS, Inc. (OTC:BTZI) for bringing this opportunity to our attention.”
About OBITX:
Headquartered in Fleming Island, Florida, OBITX, Inc., (OTCMKTS: OBTX) is a consulting and services organization specializing in blockchain technologies and decentralized processing.
Forward Looking Statements
This news release contains “forward-looking statements” which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan”, or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.
Contact: Michael Hawkins info@obitx.com
Released December 22, 2020