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Atlas Blockchain Group, formerly known as "Atlas Cloud Enterprises" (CSE: AKE) (FRANKFURT: A49) (OTCQB: ATLEF), issued a statement concerning the recent trading activity of its actions on the OTCQB.
Atlas is an IT service provider looking to become the lowest-cost producer in the blockchain and digital currency mining industry. Atlas owns a facility being prepared for use as a digital currency mining operation located in Electric City, WA. This position is said to benefit from a low-cost dedicated energy source of 5.0 MW. The change of the Atlas name occurred at the beginning of this year, together with an uplisting from OTC Pink.
Atlas commented on market activity stating that "she became aware of some promotional activities on her securities on September 5, 2018 when she received correspondence from OTC Markets [Atlas] believes that the promotion may have had some impact on market activity, but some macroeconomic events including the significant increase in the price of bitcoins may have also contributed to the recent increase in inventories and commercial activity. "
Atlas said he was engaged Monster Media on 27 August 2018 for the "purpose of editing and hosting digital multimedia content, and while the promotional e-mail above was not directly approved or paid by the Company, the Company has never provided a copy of these materials of Monster Media, and the Company has no editorial control over the content. "
Atlas said that he could" indirectly contribute to the creation and the distribution of this material due to his engagement with Monster Media. "
Atlante shares on OTCQB were traded in a range of $ 0.079 – $ 1.25 in the last 52 weeks.In the last month, shares were traded between $ 0.10 and $ 0.17 Last week, Atlas negotiated higher than normal volume
The Securities and Exchange Commission disapproved several other companies that changed their name or strategic focus to target the blockchain market. last year, the SEC interrupted the business of a number of companies suspected of questionable trade.The content of the above-mentioned correspondence of OTC markets and market activity is not clear.
Atlas stated that in the last 90 days Fred Stearman, Chief Operating Officer of the company, and John Veltheer, director of the company, bought a total of 393,000 ordinary shares and 25,000 common shares of Atlas.
Atlas added that he is unaware of such lost nor have they performed sales transactions during this period of time. These transactions were in line with the Company's insider trading policy and were reported with the Electronic Disclosure System. Atlas has stated that neither the Company's executives, nor executives and to the knowledge of the Company, controlling shareholders or third-party service providers have sold or purchased Company ordinary shares in the last 90 days except for the two executives mentioned above.
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