Hello Traders!
Last week we looked at a new profile that gained 80% intraday. This morning it opened 60% above where we profiled the company. Congratz to you all. Today we are looking at a brand-new profile alert. Since the day is underway, let's jump right in:
Earlier this month a rather interesting piece of news fell silently amidst a greater market unrest as September 2020's volatility continued. But not all companies fluctuate with the market. Many do; most do; but not all. Many companies see their price's most volatile in periods of increased activity or high volume. This is often exaggerated in smaller companies. When a smaller company deserves or otherwise gains the attention of a greater audience due to a particular achievement or misstep, it often sees a direct and immediate reaction - for better or worse.
Lately "worse" has been winning across the board.
Which may be one reason why this "interesting piece" of news went unheard earlier this month. It was good news; not eye-popping good, but enough to warrant a look.
Last week the company released another piece of interesting news, again it fell silent.
Until this month the company had not released news since May 14, 2020, which was a COVID-19 related corporate update. So when we saw this month's news, we took a closer look:
- A company with a 52-week high of 0.355, and
- A 52-week low of 0.05
It closed Friday at 0.05, and is still at that annual low this morning.
The news itself was in reference to the company's progress with its Central Asian based fintech product, whereas the company had hosted a meeting - in attendance at this meeting was the:
- Minister of Information and Social Development,
- Minister of Digital Development, Innovation and Aerospace Industry,
- Deputy Chief of Presidential Administration,
- Aide to the President of the Republic of Kazakhstan,
- and 90 members of the "Presidential Youth Staff Reserve"
Add Today Fintech Focus, Cascadia Blockchain Group (CSE:CK)
to the Top of Your Watchlist Right Away
According to recent news:
Tilektes Adambekov, the Chief Executive Officer of Eurasia Blockchain Fintech Group Limited, a subsidiary of the Canadian company we're focused on today, stated that: "the President plans to actively develop digital technologies in Kazakhstan and apply them in the public sectors. Blockchain, as one of the fintech technologies, is effective in fighting against corruption. 'Eurasia Blockchain Fintech Group Limited' is a pioneer in dealing with blockchain in Kazakhstan and our cryptocurrency exchange platform, Eurasia International Blockchain eXchange ("EBX"), is the first licensed platform for crypto exchange in Eurasia; and it is regulated under Astana International Financial Centre ("AIFC"). Currently there is no licensed crypto currency exchange in operation in Kazakhstan. With the increasing cryptocurrency mining activities in Kazakhstan and enhanced regulation, the demand of a licensed cryptocurrency exchange in Kazakhstan is very high."
The press release concluded with the following statement:
The CEO of Eurasia Blockchain Fintech Group Limited "informed the participants that the launch of EBX is now scheduled for December 2020. EBX was originally scheduled to launch in the summer of 2020 but it is delayed due to the impact of covid-19."
- On May 6, less than 5 months ago, as people watched this company prepare for its planned Summer 2020 flagship product launch, it hit a 52-week high of 0.355.
Earlier this month the company announced a new launch date, adjusted due to COVID-19. Many companies have suffered far worse in recent months. This company didn't announce that they were canceling the launch or that the company was experiencing other COVID-19 related problems, they simply announced "the launch of EBX is now scheduled for December 2020."
- And yet it sat that day at the 52-week low of 0.05.
Again, smaller companies often don't have an audience to hear their news, good or bad.
Today the company is at 0.05, right at that annual low.
See the September 15, 2020 full press release:
Cascadia Hosted the Presidential Youth Staff Reserve Meeting
Last week CSE:CK released another press release in which included more interesting information regarding the company's FinTech License and launch of its crypto exchange:
"Kazakhstan is a blockchain friend country and EBFG is the pioneer in cryptocurrency exchange platform in Kazakhstan. It is worth to mention that the President of Kazakhstan paid a great attention to the development and implementation of new financial technologies in his latest State of the Nation Address. The government recently provided additional exemptions and removed certain restrictions on EBFG's FinTech license, which allows EBFG to accelerate the launch of EBX."
See Thursday's full news release here:
Cascadia Hosted the 2nd Presidential Youth Staff Reserve Meeting And Announcement on Modification of Its FinTech License
Also of note, this company has previously announced the completion of a private placement at $0.50, which could indicate that some believe it should be valued quite a bit higher than its current level.
Granted, this was quite a ways back, but the gross proceeds from that financing were the equivalent to $7,705,054.
According to Yahoo Finance, the market cap at the current level is less than $4 million CAD.
Let's dig in:
Today's New Fintech Profile is on:
Cascadia Blockchain Group Corp. (CSE:CK)
Quote:
thecse.com/en/listings/technology/cascadia-blockchain-group-corp
Recent News:
Cascadia Hosted the Presidential Youth Staff Reserve Meeting
Website:
www.cascadiacorp.com
In their own words,
"Cascadia is an early stage fintech and blockchain technology company listed on the Canadian Securities Exchange (CSE: CK). Its wholly owned subsidiary, Eurasia Blockchain Fintech Group Limited ("EBFG"), has a conditional FinTech License to operate a crypto currency exchange and provide custodian services under the brand of Eurasia International Blockchain eXchang ("EBX")."
"Cascadia is currently in early stage of development for the application of blockchain technology under two divisions: (1) the Fintech division and (2) the Blockchain Lab division. For the Fintech division, the Company engages in developing and commercialization of trading platform technology for selected blockchain based digital assets and utility tokens. Under the Blockchain Lab division, the Company is planning to develop blockchain technology enterprise solutions and to provide related services for various industry sectors, which could be customized to the needs of the clients or designed as turn-key solutions."
In a filing for the period ending April 30, 2020 Cascadia listed Total Assets at $905,139.
According to recent news,
Cascadia's subsidiary Eurasia Blockchain Fintech Group Limited ("EBFG") "is a pioneer in dealing with blockchain in Kazakhstan and our cryptocurrency exchange platform, Eurasia International Blockchain eXchange ("EBX"), is the first licensed platform for crypto exchange in Eurasia; and it is regulated under Astana International Financial Centre ("AIFC")."
The "Astana International Financial Center is the financial center of Central Asia, the Caucasus, EAEU, the Middle East, Western China and Europe. AIFC operates under English law and aims to develop financial markets. AIFC has a separate economic system with an independent judicial system based on common laws. It has relaxed foreign exchange control and capital environment. Companies incorporated under the jurisdiction of AIFC are entitled to 50 years of exemption from corporate, personal income, land and property taxes."
Today we are focusing on CSE:CK in large part due to its chart and 52-week low levels. If it were to see a bounce from here it could be an intriguing one.
As we mentioned above, the months surrounding Cascadia's rise to its annual high - at which time we watched the company closely - were among those during which the world's focus gravitated greatly towards the rising global pandemic.
Since that time, CSE:CK quietly slid down to its current year-low levels.
As such the moving averages are predominantly red at the moment, with the Oscillators
showing green, which TradingView points out:
- Momentum (10): "Buy"
- MACD Level (12, 26): "Buy"
Technical Indicators are often used to recognize patterns and determine the direction a company is heading. They are not perfect, are often wrong and they can change quickly. First and foremost, we ask you to be smart and use your head when reading technical indicators. Keep in mind that this profile is written after CSE:CK closed at 0.05. If you're reading this and that is no longer the case, then indicators may have changed and the situation may be very different.
CSE:CK closed Friday at 0.05. Companies at these low levels can be highly volatile. Some readers enjoy researching volatile companies, others do not and that's perfectly OK.
As always, sometimes it's best to read, research and watch. There will always be another situation right around the corner and we expect to have a brand-new profile alert for you within the next week.
Start your research on Cascadia Blockchain (CSE:CK) right away and have it on the top of your screen today.
For more information on Cascadia Blockchain please visit the company's website at www.cascadiacorp.com. For quote, filing and financial information please visit thecse.com/en/listings/technology/cascadia-blockchain-group-corp.
As always, we encourage you to do further research and discuss it with a professional.
Have a wonderful morning,
Editor, SCC
Sources Include:
http://www.cascadiacorp.com/
https://thecse.com/en/listings/technology/cascadia-blockchain-group-corp
https://www.tradingview.com/symbols/CSE-CK/technicals/
https://webfiles.thecse.com/sedar_filings/00032894/2006292000074009.pdf
https://www.globenewswire.com/news-release/2017/12/29/1276766/0/en/Cascadia-Consumer-Electronics-Announces-Closing-of-Private-Placement-Entirely-Accepting-Bitcoins-as-Consideration.html
https://webfiles.thecse.com/sedar_filings/00032894/2009151935337392.pdf
https://webfiles.thecse.com/sedar_filings/00032894/2009241154228222.pdf
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