Bitech Technologies Corporation (QB) (BTTC) Quote

Bitech Technologies and Bridgelink Merge to Conquer U.S. Battery Energy Storage and Solar Markets, Prepare to Uplist on NASDAQ; https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240424:nPn81yvgra&default-theme=true

Amazes me this fleabag is above a penny still. 488 million shares. This company has no business having $40+ mil market value.

This new deal adds 222 million shares plus 100 million in options to mgmt ..... for what exactly? PLUS .... still have to raise money.

When is the RS for Nasdaq uplisting ... LOL ??

Amigo Mike

Bitech Technologies Executes Definitive Agreement with Bridgelink for a Business Combination to Acquire Battery Energy Storage Systems and Solar Projects with estimated capacity of up to 5.8 GW; https://www.globenewswire.com/news-release/2024/04/15/2862660/0/en/Bitech-Technologies-Executes-Definitive-Agreement-with-Bridgelink-for-a-Business-Combination-to-Acquire-Battery-Energy-Storage-Systems-and-Solar-Projects-with-estimated-capacity-of.html

news out now " We, Bitech and Bridgelink, together, plan to continue to progress development of the projects by utilizing a Share Subscription Agreement we are finalizing for up to $250 Million , committed Letter of Intent for one of our late-stage BESS projects near Houston, TX for up to $100 Million , as well as securing the sale of the Incentive Tax Credits (ITC)."

Yea SPIN had some potential as a shell but they obviously sold the shell to a scam. It would have been far better off here to sell this shell to a company that had some revenues. Instead they went to a company that had a product that didn’t even work lol. I guess when some people are old maybe they just don’t give a hoot anymore. Bitech smells like a stinky pinky

BTTC looking like another great decision by Dr D on behalf of SPIN investors.

So far .... Bitech is a zero.

Speaking of which still holding at a nickel for price just seems ridiculous. Roughly a $25 million valuation. I still don't see it. Should be below a penny by now as cash should be gone and no news on money coming in or business generated. Looking like vaportech.

Amigo Mike

LOL,

Wasn't really commenting on YOU .... my comment was directed at the video and the LOI.
They are worthless as is the company presently as it does nothing.

Let us know when there is something definitive.

BTW.... how's the private "SPIN" board doing ? =) Still all unicorns and rainbows in SPINland ?

Amigo Mike

Whether what I report holds value "in your book", I could care less. The video for some reason has garnered 20,000 views.

How many companies produce a You Tube Video that sez the same thing as the PR ?

And where did you get the link from ...... as link is not in the PR ?

So someone distributed via other channels.

Basically holds no value in my book until/unless something definitive comes of it.

Amigo Mike

That youtube video about the company's recent PR, now has 20,000 views...

Soco,

I wasn't gonna say that cause I haven't spent any time digging into the LOI company.

Vietnam or course ..... just guessing .... prolly not easy to find info .... but like I said ... haven't looked.

Amigo Mike

Reads like another scam imo

This is an LOI .... means nothing presently.

Hell, I could point them to a builder of green data centers that already has roughly 75MW in built data centers powered by curtailed wind energy. They have another 50MW to build at existing location that already has regulatory approval.

What's the current share count on this flee bag ..... it was 500+ million (and is still over valued) but some I think were recovered.

Amigo Mike

BTTC News 300Mill$ LOI Huge News bc Mcap is 11Mill$

Bitech Technologies Receives Letter of Intent for up to $300 Million to Invest in Solar and Battery Energy Storage System Projects; https://www.globenewswire.com/news-release/2023/05/08/2663187/0/en/Bitech-Technologies-Receives-Letter-of-Intent-for-up-to-300-Million-to-Invest-in-Solar-and-Battery-Energy-Storage-System-Projects.html

A lot of accumulation at this level. This maybe warming up for news

Partial settlement of pending litigation, cancellation of 51,507,749 common shares, reduced dilution to shareholders, 8-k filing...

In the pending federal court litigation, BTTC announces (see 8-k just filed) settlement with Calvin Cao and SuperGreen, two (2) of the defendants in the recent filing in federal court, resulting in cancellation of said defendants' 51,507,749 shares of the company's stock being returned to BTTC's treasury, and effectively removing significant dilution of the current shareholders. Litigation continues against the remaining defendants, Michael Cao, B&B Investment Holding, LLC, and Linh Dao. Awaiting further developments as respects the remaining defendants (pending claims against them include embezzlement of company funds, IP conflict of interest, breach of fiduciary duties, and conspiracy with the other defendants who just settled).

Effective February 20, 2023, Bitech Technologies Corporation together with its wholly owned subsidiary Bitech Mining Corporation (collectively, the “Company”) entered into a Confidential Settlement, Mutual Release, and Share Transfer Agreement (the “C. Cao Settlement Agreement”) with Calvin Cao (“C. Cao”) and SuperGreen Energy Corporation (“SuperGreen,” together with C. Cao, the “C. Cao Parties”). The C. Cao Settlement Agreement settles as to the C. Cao Parties, the Company’s lawsuit as disclosed in its Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on February 3, 2023 (the “Cao Lawsuit”). Pursuant to the C. Cao Settlement Agreement, the C. Cao Parties terminated the Patent & Technology Exclusive and Non-Exclusive License Agreement between Bitech Mining Corporation and SuperGreen dated January 15, 2021 as amended on January 15, 2021 and on March 26, 2022 (the “License Agreement”) and SuperGreen canceled 51,507,749 shares of the Company’s common stock, par value $0.001 per share issued by the Company to SuperGreen pursuant to the License Agreement. In addition, the parties to the Settlement Agreement agreed to a mutual general release of liabilities against each other, refrain from making any disparaging remarks about each other and the Company’s filing a dismissal with prejudice of the Cao Lawsuit as to the C. Cao Parties. The Settlement Agreement also contains additional covenants, representations and warranties that are customary of litigation settlement agreements. The Company intends to continue to pursue the Cao Lawsuit as to the remaining defendants in that case, namely Michael Cao, B&B Investment Holding, LLC and Linh Dao.

Link: https://www.sec.gov/ix?doc=/Archives/edgar/data/0001066764/000149315223006013/form8-k.htm

Brilon also the CFO of Iveda (IVDA)

BTTC director/CFO acquires 5,000,000 shares in SEC filing

https://www.sec.gov/Archives/edgar/data/1066764/000149315223005153/xslF345X03/ownership.xml

I sold what I had into this and took profits. Still hold some shares so I’m not devastated here but it definitely sounded too good to be true, this technology they were touting. Now this ticker is probably going to see more dilution to acquire another company. This ticker has been a disaster from the get go. I once had 300,000 shares here. Now it’s like 25,000. Mostly all sold over .125. I do think there maybe a buying opportunity on news of the next company coming in but SPIN was in a far better position than BTTC. This is a falling knife.

Getting closer to a more realistic price.

Still a ways to go IMO.

Hoping most SPIN longs ... are long gone ... excepting the know it alls. Hate to wish negative things on folks but some get what they deserve for spewing bull$**t for years on this stock and sucking people into it.

Maybe new CEO has a new plan but for right now it's just not investable.

Amigo Mike

Looks like great investor confidence here lol

It’s either incompetence or competent scammers. Neither is a good.

Amazing indeed.

The 8K .. ouch. So BTTC is now basically a zero. 5 cents is ridiculous.

Shades of Dr D. Wow.

Amigo Mike

https://www.sec.gov/ix?doc=/Archives/edgar/data/1066764/000149315223003558/form8-k.htm

It’s a testament to management that this ticker was able to absorb heavy dumping in December last year and this year there isn’t nearly as much of a bid. These guys have brought very little to no value. It had more value as a shell.

LOI that haven’t been followed up and TV junk to push but the pps hasn’t been pushed. This thing has stunk since they took over and it’s starting to rot

Mgmt has been impressive here so far eh ?

Can't believe this thing isn't much lower already.

Amigo Mike

Maybe an ugly December here.

I don’t think either is a huge surprise

Massive crypto sell off. This company isn’t going anywhere fast. IMO

Underwhelming to say the least

News release...

NEW YORK, Oct. 11, 2022 (GLOBE NEWSWIRE) -- FMW Media Works' New to The Street will feature Bitech Technologies Corporation (OTCQB: BTTC) ("Bitech") on its national and international syndicated and sponsored television program. The series will span three months with discussion and interviews about BTTC, a global technology solution provider dedicated to providing a suite of green energy solutions.

BTTC's management will introduce themselves to New to The Street's viewers and provide updates about Bitech's green energy solutions and its proprietary Evirontek™ Integrated Platform designed to resolve high electricity costs in cryptocurrency mining and related industries.

Benjamin Tran, CEO of Bitech Technology Corporation states, "We are very excited about our upcoming interviews on New to The Street. We look forward to updating our shareholders with our latest developments and introducing our Company to a new broader audience on our technologically advanced green energy solutions."

FMW Media will produce and broadcast the show and commercial ads across all New to The Street syndicated televised platforms on Newsmax, FOX Business Network, and Bloomberg TV. New to The Street TV will create and design Bitech's televised segues to keep its viewers informed and updated accordingly, bringing attention to BTTC's business fundamentals and ongoing successes. All broadcasted shows will stream for 6-months on the New to The Street website, www.newtothestreet.com.

Vince Caruso, Founder and CEO of FMW Media and Producer at New to The Street TV, states, "During the next three months, we expect fantastic TV interviews with BTTC's management, giving our viewers exciting business updates and developments. And we at New to The Street expect to maximize viewership interest on Bitech's green energy storage and solutions business strategies."

The New to The Street's broadcasted interviews with the management at Bitech Technologies Corp. (OTCQB: BTTC) can be seen on Newsmax TV, Fox Business Network, and Bloomberg TV, dates and times on upcoming airings "To be Announced."

LINK

I don’t think Wall Street is going to touch crypto until Washington does something about it. I just assumed that the Tesdison tech was going to be implemented at the site but who knows. This Etheruem merger tho is kind of interesting as it is theoretically going to lower their energy output drastically. If bitcoin ever does something like that it would kind of make their technology useless in the crypto space. Technology can be so fast moving now a days. Maybe Tesdison is obsolete already lol.

Yeah,

Personally expect bitcoin to be higher in the future once Wall Street decides to change the narrative or Main Street finally gets wise to the manipulation that is going on.

Guessing there is more to the deal ..... clearly can't get to the numbers based on what's been offered so far. Interesting they are getting into bitcoin mining and haven't been selling their Tesdison tech .... at least so far ... and no mention of it in the PR.

Business case based on "predictions" is tough to swallow. But I guess gotta make assumptions along the way.

Amigo Mike

I think their estimate in what they are going to produce is when they supposedly build out that land with more mining rigs and not what’s on the current land. The money for this acquisition is Probably going to result in more dilution I assume. I personally think bitcoin will be higher 5 years from now but really who knows what position the world would be in at that point. They’re just starting here so everything is pretty much a forward looking statement at this point.

So ... ah ...

.... where does the $2.5 million come from ? Isn't on the balance sheet.

The "predictions" are nice .... LOL .... but don't belong in a PR. And nobody knows where bitcoin is going.

Case in point the current crypto "winter" and the negative Wall Street narrative that dominates headlines daily. Like the Fed and inflation impacts crypto. The whole point of crypto is moving away from fiat and gov't oversight and meddling as they don't know what they are doing in the first place.

Also wondering about the net profit projections. 560 S1 antiminers aren't going to produce much. Low end of CUMULATIVE net profit projections is $6200 per day. That simply isn't going to happen. S1 antminers ????.... so was that supposed to be S19 antminers ? Even 560 S19 Pro isn't going to produce that kinda action per day even at 3 cents /kwh and the difficult over time only really goes higher driving down profitability. No info provided on power cost ..... assume some level of Bitech power supply minimizing power costs but no info there either.

https://www.nicehash.com/profitability-calculator/bitmain-antminer-s19-pro

And gotta split the money 51/49 .... so ..... looking like the numbers don't really add up.

Amigo Mike

It looks like it may take them a couple of years to get their initial capital back. This definitely seems to be a long term outlook by the company. Hopefully it’s a slow build and not a slow collapse lol.

Link to Twitter site with piks of bitcoin mining site in question...

LINK

Bitech Technologies Signs Letter of Intent to Enter Bitcoin Mining with Advances in Technologies

LINK

I am expecting news but not necessarily from the crypto sector. I saw that PR as well as your previous research you posted. Energy is and will be an issue for sometime going forward across most sectors.

Soco... If you are solely waiting (or expecting) Bitech to announce new business with a crypto miner (which certainly came off as the business focus when the merger was first announced), I'd guess that is certainly possible, but you would be myopic in that expectation, based on the company's recent press release (see link, below) earlier this month, which targets four (4) areas--it goes well beyond "simply" doing business with crypto miners. From doing my due diligence, it appears the credentials and relevant experience of the management, at least provides a reasonable basis to believe they can professionally execute, something which the previous management, eg Donovan, clearly was incapable of, as he de facto intertwined his own medical practice and SPIN. So we'll see, but based on the PR, my expectations for some significant Bitech news, include, but also go beyond, a "mere" business contract with a crypto miner. We'll see, I guess!

Bitech-Technologies-Announces-Shareholder-Update-on-Its-New-Business-Strategy

Miners have been shutting off their rigs because in some cases the power cost is too high ... or like in Texas .... the miners turn off their rigs to allow more power to the overall grid but get paid by Texas to do so. See RIOT news. Generated more revenue with rigs turned off ... than with rigs turned on.

Bottomline if Tesdison does as stated, would seemingly reduce the reliance on external power needs ..... but is it enough to overcome Tesdison cost and revenue sharing that BiTech will want ??

Yes Bitech is talking about acquisition but figure that would happen only with Clean Tek's money and/or more shares of BTTC. Either way, I don't think it moves the needle unless the acquisition is a sweetheart deal. Tech companies valuations have certainly dropped this last couple months to more realistic levels. That's why I mentioned Bitech valuation still seems far too high for what this company has shown so far. No revenues and no earnings ..... and no idea when .... isn't a good place to be in the markets these days.

Pocket change gamble is basically what it is for the time being. I don't own any BTC at the moment (have some other altcoins) but I think some BTC miners are at depressed enough prices to be interesting and have focused some resources there.

Amigo Mike

I just watched a video that said miners are shutting off their rigs so you would think now would be the time to capitalize. I really don’t know what to think of the value going forward here. They were talking about making an acquisition to generate capital which I found odd. This ticker actually got me to look into some crypto lol. Just bought a small starter position in bitcoin for the first time in 5 years. Seems like a decent long term gamble with some pocket change

It sure looks like it is being somewhat controlled. But not all that surprising with the float being almost nothing relative to the outstanding.

Personally, I think the stock is overvalued at .16. That's roughly an $80 million valuation .... for .... what exactly ? Last raise was at about a $30 million valuation and since then all that has happened is the acquisition of SPIN (no value add except going public), a restatement of their business plan and no reported sales. Original plan was helping bitcoin miners but we all know what's happened in the crypto arena.

But one would think with a "green" solution to help miners that they'd be producing sales here.

Hell I even sent a note to the CEO of a bitcoin miner to see whether or not Bitech might be an option. Power costs have been at record highs this summer due to multiple factors. Seems that Bitech pitch should be able to produce sales that would reduce those power costs .....

Amigo Mike

Yea I thought I read something in a filing about one of them selling so it maybe. It’s been controlled and accumulated at this level as of late. This may pop soon

What’s up with selling? Company selling?

Well I wonder what company they are going to acquire and at what cost. Might get interesting here in the coming weeks