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Tcel xtra bitcoin8/11/2023 ![]() XTRA is leasing site and electrical capacity from The Pines Townhomes LLC, a rental real estate company that is wholly owned by our CEO. There have been many questions about MW (megawatt = 1,000,000 watts) controlled by XTRA Bitcoin Inc – $TCEL. ![]() We hope to add some new members to our team from the Southeast Asia/China region and will keep shareholders updated on the events as they progress. XTRA is engaged in negotiating terms, hoping to secure growth funding, financial stability, and long-term shareholder value. Most of these investors are from China, Singapore, Malaysia and Korea. We have had many outside investors contact us regarding investing and working with us developing bitcoin mining. Management believes that they will be able to provide the requested items within 60 days.īringing filings current and removal of the OTC STOP sign is important to lenders and investors who want to participate in funding our bitcoin mining business. Among these items are 2 audited 10-K and 3 reviewed 10 Q reports from year end 2010 to year end 2011 to be filed with the SEC. This process involves providing documentation and responses to 13 items identified by FINRA to support our notification of corporate action before OTC will accept current filings. XTRA’s management is working to bring all filings current to remove the OTC STOP sign. Management is confident that the FINRA requested documentation and audited financials can be provided in the next 30 to 60 days and has therefore opened financing discussions with several investors and leased additional electrical capacity to bring our project from 2.5MW to 10MW. After FINRA, bringing filings current on OTC to remove the STOP sign is a prerequisite condition to obtaining funding. Complying with the FINRA requests is the required first step towards bringing our filings current. (OTC PINK:TCEL) XTRA’s management is assembling the documentation requested by FINRA in response to our corporate action notification regarding merger and name change. President Paul Knudson will perform the Treasurer duties until a qualified replacement is hired.XTRA Bitcoin Inc. XTRA thanks him for his service and wishes him the best. Upon the exchange of certificates, the Issued and Outstanding common shares of XTRA Bitcoin Inc (TCEL) shall increase by 100,156,560 from 1,948,318,345 to 2,048,474,905.ĭue to personal and professional obligations, our Treasurer Gregory Knudson has determined that he is unable to dedicate adequate time to his office with XTRA and has resigned. XTRA Bitcoin Inc (TCEL) as the Surviving Corporation will issue a total of 100,156,560 (2,503,914 times 40) freely trading common shares (valued at $0.00025 at time of merger) to the minority old XTRA equity shareholders, and 276,050 (6,901,253 times 40/1000) shares of restricted Series E Preferred stock to various old XTRA equity holders controlled by Surviving Entity director/president Paul Knudson, and 193,236 (4,830,888 times 40/1000) shares of restricted Series E Preferred stock to old XTRA equity holder controlled by Surviving Entity officer Mary A Veatch. ![]() Therefore, Section 2 Conversion of Shares, Section 2.2 is hereby amended in its entirety to read: 2.2 XTRA Bitcoin Inc (TCEL) common stock. The old XTRA Bitcoin shareholders have 14,236,055 shares at $0.01 valuation at time of merger in the form of 2,503,914 freely trading shares held by minority shareholders, 6,901,253 restricted shares controlled by Paul Knudson, and 4,830,888 restricted shares controlled by Mary A Veatch. ![]() Therefore, the old XTRA Bitcoin Inc shareholders and the new XTRA Bitcoin Inc (TCEL) Board of Directors have agreed and determined that it is in the best interests of XTRA Bitcoin Inc (TCEL) to cancel the Reverse Split described in Section 2.1 and instead, consummate the merger by issuing 40 shares of TCEL common stock for each share of the old XTRA Bitcoin Inc. Therefore, the proper formula for Conversion of Shares will be to conform the shares of the old XTRA Bitcoin Inc to the valuation of common shares of Therapy Cells Inc, as the surviving corporate structure without conducting a Reverse Split of TCEL common shares. Upon further review, management has concluded that this is a mistake as Therapy Cells Inc is the surviving corporate structure. The terms of Exhibit “A” of the Agreement and Plan of Merger under 2.1 provided a formula for Conversion of Shares “to facilitate a merger of equals” that described a Reverse Split of Therapy Cells’ issued and outstanding common shares to match the $0.01 valuation of the old XTRA Bitcoin share structure. Under the Articles of Merger filed Jwith WY Secretary of State, Therapy Cells, Inc is the surviving corporation and was re-named XTRA Bitcoin Inc. Therapy Cells Inc (OTC PINK: TCEL) has successfully merged with XTRA Bitcoin Inc and changed its name to XTRA Bitcoin Inc (OTC PINK: TCEL).
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