In a recent rollout of events, BitFrontier Capital Holdings has retained special counsel for assisting it to cancel 12,260,000,000 of the company’s Common Stock shares, as published on NASDAQ. These shares account for 99% of the Company’s Common Stock issued and outstanding shares including classes of Preferred Stock.
BitFrontier Capital Holdings, Inc. deals in cryptocurrency based development opportunities and investments through mining, investment in private or public companies and joint ventures, and acquisition of blockchain powered companies. It also envisions to build a warehouse dedicated to hosting cryptocurrency mining equipment.
The company had initially noticed that the former management issued shares improperly. A further investigation revealed that several hundred million of their Common Stock and some classes of Preferred Stocks had also been involved in the same transactions with the former management.
The company now seeks to file a complaint in the courts to cancel these improperly issued shares as an act of fraud and intends to inform the shareholders once the filing is completed. “The Company, through its retained special counsel, will be filing with the courts, a Complaint for Declaratory Judgment to formally cancel these improperly issued shares consisting of 12,260,000,000 shares of the Company’s Common Stock and several classes of Preferred Stock for fraud or want of consideration. We expect to file this complaint very soon and will keep our shareholders updated once it is formally filed,” states the company’s formal press release.
The company additionally plans to release two quarterly reports for the periods ending 31st March 2018 and 30th June 2018 in an attempt to reestablish its “Pink Current” status with OTC markets. The Company also stated that the construction of its first cryptocurrency mining facility will begin shortly after the demolition of the recently acquired property.