Following the Meeting management has undertaken a review of the assets and financial position of the Company. Management's focus has been directed towards the financial status of the Company and evaluation on the Company's technology.
Management has obtained access to certain, but not all, of the Company's financial records and is reviewing the financial information. A number of consultants and vendors have also approached the Company with respect to accountants payable. Management is reviewing these claims to ascertain the veracity of the payables. In addition, Vince McMullin, former Chief Technology Officer of the Company has commenced a claim against the Company and one of its directors with respect to unpaid fees. The Company is in the process of reviewing the claim and has retained counsel to assist with the matter.
Management is reviewing the Company's intellectual property with a view to assessing previous management's progress in developing the blockchain/crypto currency technology. In addition, management is in the process of gaining access and control over the Company's website and social media accounts.
While the board of directors continues its review of the Company's operations with the hopes of realizing some value, however, in light of the decline in the blockchain and crypto currency sectors and the apparent lack of progress made by previous management in executing its business plan, it has decided to initiate a strategic review of the Company, which may include alternative transactions, focused on maximizing shareholder value.
For further information, please contact:
Blocplay Entertainment Inc.
Tel: 647-776-1209
Email: investors.blocplay@gmail.com
