Stocks of Lengthy Bitcoin Corp (LBCC), a beverage corporate became cryptocurrency mining corporate, had been formally delisted via the USA Securities and Change Fee, or SEC.
The corporate was once ordered to delist its inventory after failing for years to supply any monetary reviews. Lengthy Bitcoin Corp’s final income record was once for the quarter finishing Sept. 30, 2018, consistent with Bloomberg.
Lengthy Bitcoin Corp is registered within the state of Delaware, consistent with SEC filings.
Initially referred to as Lengthy Island Ice Tea, Lengthy Bitcoin rebranded all the way through the peak of crypto euphoria in January 2018. That was once in a while after Bitcoin (BTC) peaked in worth and proper across the time that altcoins hit new all-time highs. On the time, Lengthy Blockchain stated there “will also be no assurance” that it is going to achieve success in creating allotted ledger era.
Consistent with the SEC, the corporate’s shift from drinks to blockchain by no means materialized. Underneath the stipulations of the SEC’s order, Lengthy Blockchain agreed to have its stocks revoked with out admitting or denying the regulator’s findings.
As Cointelegraph up to now reported, Lengthy Blockchain was once in monetary bother lengthy earlier than the rebranding. The tech-heavy Nasdaq trade delisted the corporate in April 2018 because of low marketplace capitalization.
As of Friday — probably, its ultimate buying and selling day — Lengthy Blockchain Corp was once price $1.12 consistent with percentage, for a complete marketplace price of $32.7 million.
LBCC percentage costs surged all the way through the peak of the 2017 to 2018 bull marketplace earlier than declining precipitously over a four-month length. The corporate was once necessarily a penny inventory between 2018 and 2020.