Shares of Long Bitcoin Corp (LBCC), a beverage turned cryptocurrency mining company, have been officially delisted by the United States Securities and Exchange Commission, or SEC.
The company was ordered to delist its stock after failing for years to produce any financial reports. Long Bitcoin Corp’s last earnings report was for the quarter ending September 30, 2018, according to Bloomberg.
Long Bitcoin Corp is registered in the state of Delaware, according to SEC filing information.
Originally known as Long Island Ice Tea, Long Bitcoin rebranded during the height of crypto euphoria in January 2018. That was shortly after Bitcoin (BTC) peaked in price and right around the time that altcoins hit new all-time highs. At the time, Long Blockchain said there “can be no assurance” that it will be successful in developing distributed ledger technology.
According to the SEC, the company’s shift from beverages to blockchain never materialized. Under the conditions of the SEC’s order, Long Blockchain agreed to have its shares revoked without admitting or denying the regulator’s findings.
As Cointelegraph previously reported, Long Blockchain was in financialTitle: Long Blockchain Corp has officially been delisted by SEC
Sourced From: cointelegraph.com/news/long-blockchain-corp-has-officially-been-delisted-by-sec
Published Date: Mon, 22 Feb 2021 20:00:00 +0000