Is Global Blockchain Technologies Corp (OTCMKTS:BLKCF) a Bargain at Present Levels?

Is Global Blockchain Technologies Corp (OTCMKTS:BLKCF) a Bargain at Present Levels?

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One stock that may be somewhat of a bargain, in due time, is Global Blockchain Technologies Corp (OTCMKTS:BLKCF). The stock trades on a light float of just 18 million shares and has suffered along with the rest of the crypto space so far in 2018. But a look under the hood shows strong topline growth (albeit on small sample numbers) and a strong balance sheet, as well as a big brand being carved out.

One other factor we find interesting here is the company’s move to establish some key strategic investments. The company, as we have noted in the past, is a lead investor in the KODAKOne platform. As such, it is clearly news for investors that WENN Digital, Inc., the operator of the KODAKOne Image Rights Management Platform, a blockchain-based image rights management and protection platform, announced it will officially commence the $1.00 round of its offering of the Simple Agreements for Future Tokens (SAFTs) on May 21, 2018.

Global Blockchain Technologies Corp (OTCMKTS:BLKCF) frames itself as an investment company providing investors access to a basket of holdings within the blockchain space, managed by a team of industry pioneers and early adopters of all major cryptocurrencies.

GBT is focused on streamlining the current arduous, lengthy and complicated process that interested investors need to undergo in order to gain exposure to the cryptocurrency space with a view to becoming the first vertically integrated originator and manager of top-tier blockchains and digital currencies. GBT is listed on the TSX Venture Exchange and its common shares trade under the ticker symbol \”BLOC\”.

According to company materials, “Global Blockchain Technologies Corp. is an investment company providing investors access to a basket of holdings within the blockchain space, managed by a team of industry pioneers and early adopters of all major cryptocurrencies. GBT is focused on streamlining the current arduous, lengthy and complicated process that interested investors need to undergo in order to gain exposure to the cryptocurrency space with a view to becoming the first vertically integrated originator and manager of top-tier blockchains and digital currencies. GBT is listed on the TSX Venture Exchange and its common shares trade under the ticker symbol “BLOC”. Other information relating to GBT is available on SEDAR at www.sedar.com as well as on the Company’s website at www.globalblockchain.io”

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The chart shows 26% during the past month in terms of shareholder gains in the stock, but this action is running counter to the larger trend in the name. Moreover, the stock has registered increased average transaction volume recently, with the past month seeing 17% above its longer-run average levels. In addition, with a very small float of just 18M shares may serve to augment any upside momentum as this surge in volume sticks around.

Shidan Gouran, President & CEO of the Company said, “BLOC incubates, founds, partners and strategically invests in companies who are committed to innovating and developing technology to improve and change industries. Our investment in KODAKOne is now progressing to a fully commercial offering, which should rank as one of the very first security compliant offerings in Blockchain.”

Bruce Elliot, President of ICOx Innovations, a company that develops crypto economies and is one of the founding organizations of WENN Digital and the KodakOne Platform said, “We are extremely excited to get this first project to this stage. Bringing today’s technology to solve real problems with big brands and executing the process the most efficient and regulatory compliant manner, we believe we are setting a path in developing  what will be a healthy and vibrant crypto industry.”

Currently trading at a market capitalization of $133.2M, BLKCF has a significant war chest ($3.1M) of cash on the books, which stands against virtually no total current liabilities. BLKCF is pulling in trailing 12-month revenues of $30K. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 1508.6%. We will update the story again soon as developments transpire. Sign-up for continuing coverage on shares of $BLKCF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $BLKCF, either long or short, and we have not been compensated for this article.

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