The Crypto Company, one of the first publicly traded companies in the digital currencies and blockchain sector, today announced plans to execute a 10-for-1 stock split.
The company’s shares, currently trading on Over-The-Counter (OTC) markets under the CRCW ticker, experienced a recent surge in value and demand, in correlation with the Q4 rise of the entire digital currency market.
The Crypto Company, which went public via a reverse merger in June 2017, provides investors with a diversified exposure to the emerging asset class of cryptocurrencies and blockchain technologies through proprietary software, trading technology, auditing services and consulting services. The 10-for-1 stock split will automatically convert each current share of The Crypto Company’s stock into ten new shares.
“We are aware of the recent fluctuation in our stock, and want to see orderly market activity surrounding the trading of our stock,” CEO Mike Poutre said. “Splitting the stock will increase our float of free trading shares and is the responsible thing to do.”
The Crypto Company’s stock split will occur in accordance with SEC rules and timeframes, the company said in a release.
“We hope that an increased float will contribute to a more orderly and safer market for our stock and corresponding investors,” Mr. Poutre said. “All investors should be cautious when they see volatile markets such as this. We encourage everyone to be cautious and judicious when considering the purchase of our stock.
“There are a lot of companies taking advantage of the euphoria associated with this space, and we do not want to be associated with them. We want people to pay attention to the business we are building, not the hype of a stock or the cryptocurrency world. Our hope is to show that we are responsible corporate citizens and that everything we do is in the spirit of the law and protects investors.”
The Crypto Company offers a portfolio of digital assets, technologies, and consulting services to the blockchain and cryptocurrency markets. The Crypto Company recently announced the impending rollout of a full scale, high-frequency cryptocurrency trading floor in its California headquarters.
Shareholders will receive their nine additional shares subject to and following the requisite regulatory approvals and waiting period. The exact date will be publicly released ahead of time.