A diversified Fintech eCommerce merchant services provider and cryptocurrency mining enterprise. The Company’s eCommerce platform delivers cloud-based merchant services for a comprehensive digital commerce solution to over 10,500 merchants in all 50 states. DMint, a wholly owned subsidiary of OLB Group, is engaged in the mining of Bitcoin utilizing sustainable natural gas with an initial deployment of efficient 1,000 ASIC-based S19j Pro 96T mining computers.
Basically, I think that OLB stock is totally undervalued. Their revenue is around $8.7 million out of that $8.7 million only about 3% right now is related to Bitcoin. 97% comes from the merchant service business, which is OLB’s strongest most valuable piece of the business at this point. It’s growing, it’s growing organically. It’s a great business to be in. And that’s still the core business that they are doing right now.
Last year of Q1, OLB had a gross profit around $463,000. This year, they have $1.5 million in gross profit. They still do have a negative income loss, a net loss of $1.4 million. The majority of this net loss is related to the depreciation and the amortization of the equipment’s and the purchases of the portfolios last year. So that’s the majority of the loss. But overall they have a positive EBITDA.
On November 15, 2022, OLB announced a record revenue in 2022 whose key highlights were :
Adjusted EBITDA $794,664 vs. Negative Adjusted EBITDA (-$1,615,364) as of September 30, 2022, and 2021, respectively.
Total Corporate Assets $41,177,888 on September 30, 2022
Cash Balance on September 30, 2022, approximately $2,300,000
Zero unsecured debt
Source: https://wacotrib.com/ap/state/olb-group-continues-record-revenue-growth-for-2022/article_bd7f5bd8-863d-5907-bb46-f6595784582d.html
The new services that they started offering this year and for next year would be the Crypto Accept. Crypto Accept is payments with cryptocurrencies. They are also integrating now Crowd Ignition that they just acquired in early of this year. And focusing also on the future having ATM machines, Bitcoin mining and also lending to existing merchants. So that’s eVance Capital.
Two new subsidiaries that they established in late 2021, its Oilbit is the company that is going to be their intellectual properties and the BitLicense. The idea there is they’ll be able to trade the cryptocurrencies on behalf of their customers that are the merchants. And DMint is the Bitcoin mining operation that they already purchased 1,000 machines. They believe that by end of this quarter, they got to have up and running the entire 1,000 machines that they purchased. And the operation is running in Bradford, Pennsylvania in two locations.
I am staying put to see OLB’s earnings. And excited to see how their business & share price grows. Let me know what you guys think about OLB !
Sources for all the above information are given below :
https://wacotrib.com/ap/state/olb-group-continues-record-revenue-growth-for-2022/article_bd7f5bd8-863d-5907-bb46-f6595784582d.html
https://www.businesswire.com/news/home/20220713005254/en/OLB-Group-Authorizes-Share-Repurchase-Program
