{"id":5484,"date":"2015-04-30T12:11:03","date_gmt":"2015-04-30T12:11:03","guid":{"rendered":"\/?p=5484"},"modified":"2015-04-30T12:34:49","modified_gmt":"2015-04-30T12:34:49","slug":"bitcoin-shop-inc-otcmktsbtcs-crashes-after-announcing-merger","status":"publish","type":"post","link":"\/articles\/bitcoin-shop-inc-otcmktsbtcs-crashes-after-announcing-merger\/","title":{"rendered":"Bitcoin Shop Inc. (OTCMKTS:BTCS) Crashes After Announcing Merger"},"content":{"rendered":"\n<p><img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/89\/89944\/fsadfasfas.png\" border=\"0\" width=\"429\" height=\"191\" \/>Interestingly enough, the unimpressive 10-K that Bitcoin Shop Inc. (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=BTCS\">BTCS<\/a>) filed mid April didn&#8217;t have all that profound an impact on the company&#8217;s stock prices &ndash; but the announcement that it is going to merge with Spondoolies-Tech Ltd. sure did. <\/p>\n<p>In the PR that hit the web yesterday,Charles Allen, CEO of <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=BTCS\">BTCS<\/a>, tried to be absolutely clear that they &ldquo;<em>believe this merger once completed would create significant value for <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=BTCS\">BTCS<\/a> and Spondoolies shareholders<\/em>&rdquo;. Evidently he failed to convince investors, as the ticker plummeted 12.35% immediately after the news came out.<\/p>\n<p>And in this case the investors&#8217; displeasure with the company is completely justified. Truth be told, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=BTCS\">BTCS<\/a>&#8216;s balance sheets were never impressive to begin with:<\/p>\n<ul>\n<li><span style=\"color: #ff0000;\"><strong>Cash &#8211; $5403 (NUMBER NOT IN THOUSANDS)<\/strong><\/span><\/li>\n<li>Total current assets &#8211; $68 thousand<\/li>\n<li>Total current liabilities &#8211; $266 thousand<\/li>\n<li>Annual revenue &#8211; $38 thousand<\/li>\n<li>Annual net loss &#8211; $14.7 million<\/li>\n<\/ul>\n<p>Who knows what will happen when it merges with a LLC? <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=BTCS\">BTCS<\/a> management claims the merger with the &#8220;<em>group of Israeli high-tech veterans<\/em>&#8221; will all be for the best, but in light of their history of dilution and overall shenanigans, it&#8217;s no wonder that the investors&#8217; patience is growing dangerously thin.<\/p>\n<p><img decoding=\"async\" style=\"float: left;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/89\/89944\/fasdfsadfas.png\" border=\"0\" \/>This is most likely why <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=BTCS\">BTCS<\/a>&#8216;s share price fell yesterday, and why the ticker may well end up even further down the chart today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Interestingly enough, the unimpressive 10-K that Bitcoin Shop Inc. (OTCMKTS:BTCS) filed mid April didn&#8217;t have all that profound an impact on the company&#8217;s stock prices &ndash; but the announcement that it is going to&#46;&#46;&#46;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1292],"class_list":["post-5484","post","type-post","status-publish","format-standard","hentry","category-news","tag-btcs"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/5484","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=5484"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/5484\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=5484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=5484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=5484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}