Trade The OLB Group, Inc. - OLB CFD

The OLB Group, Inc. Company profile

About OLB Group Inc

The OLB Group, Inc. is a diversified fintech e-commerce merchant services provider and Bitcoin crypto mining enterprise. The Company's eCommerce platform delivers e-commerce services for a digital commerce solution to over 9,500 merchants in all 50 states. The Company is a payment facilitator and e-commerce service provider that delivers cloud-based merchant services for Web-based and brick-and-mortar organizations by providing an end-to-end digital commerce solution that includes site creation, hosting, transaction processing and payment gateway, order fulfillment, customer service, outbound marketing, sales reporting, and fundraising. The Company’s wholly owned subsidiary, DMINT, Inc, is engaged in the mining of Bitcoin utilizing natural gas. It utilizes over 1,000 application-specific integrated circuit (ASIC)-based S19j Pro 96T mining computers. The Company also provides e-commerce development and consulting services on a project-by-project basis.

Financial summary

BRIEF: For the nine months ended 30 September 2021, OLB Group Inc revenues increased 14% to $7.9M. Net loss increased 56% to $2.7M. Revenues reflect Transaction and processing fees increase of 18% to $7.4M, Merchant equipment rental and sales increase of 61% to $98K. Higher net loss reflects General and administrative expenses increase of 55% to $2.4M (expense), Salaries and wages increase of 43% to $1.5M (expense).

Equity composition

Common Stock $.01 Par, 10/11, 200M auth., 6,419,830 issd.,Insiders owns 68.15%. 10/11, 1-for-20 Reverse split.