Bit Brother Ltd (PK) (BETSF) News

look there, I see two link now!

According to company emails: 1) the website is being overhauled, 2) the 2nd mining site has passed final building/electrical inspection, 3) they anticipate going operational this weekend (25-27 May) and 4) they are currently negotiating on the 3rd site.

Time will tell.

An address has appeared, not yet active!
However... it's there
https://web.bitbrother.com/

2nd Site passed final inspection.

From Pending


To Scheduled


Could go to Passed (operational) later today or tomorrow.

This week could be the week... N/E sound barriers are up, started S/W this morning and bucket trucks on site to hook up electrical.

Sparkling and amusing!

LOL… but It's not nice to mock others.

They certainly didn't lift a finger to appeal but evidently there was little for the appeal, better save!
I hope I'm wrong but it could be a long wait before we know anything, maybe October, November!
This is in the worst case scenario, IMO.
The interest borrowing rate is high to wait a long time.
It could also be that they really want to redeem themselves!

The Chinese people, with their millennia-old culture, represent one of the oldest and most continuous civilizations in the world. Rooted in a history that spans dynasties and eras, the Chinese have made significant contributions to the cultural and scientific heritage of humanity. They are known for their industriousness, a distinctive trait that reflects in their work ethic and determination in pursuing long-term goals.

China is the birthplace of countless inventions that have transformed history, such as paper, the compass, gunpowder, and currency, showcasing an ingenuity oriented towards progress and innovation. Although they have historically adopted strategies of imitation to bridge technological and industrial gaps, this approach has often served as a springboard for independent developments and innovations, demonstrating the country's enormous potential.

Humility is another valued quality in Chinese culture, a virtue that manifests in respect for others and a willingness to learn and continually improve. This combination of humility, industriousness, and a deep reverence for tradition, coupled with an unceasing drive for innovation, makes the Chinese people a prominent player on the global stage!
Sun illumine us!

This is how a phone call from the SEC to Bit Brothers would probably go:

SEC: I would like to talk to the current CEO, can you tell me that person's name?

BB: Hu

SEC: The name of your current CEO

BB: Hu

SEC: That's what I'm trying to figure out. Who is the CEO?

BB: Yes

SEC: Yes, who is the CEO?

BB: Yes, Hu

SEC: Do we have a bad connection? You keep repeating what I say. Let's try something different. Who are you?

BB: Yu

SEC: What? Yu are not me

BB: I know, I am Yu

SEC: This is getting frustrating. Maybe you can tell me who runs accounting?

BB: Mi

SEC: Now we are getting somewhere. How long have you been running accounting?

BB: No, I am Yu. Mi is in charge of accounting.

SEC: Why won't you answer my questions in a forthright manner. I am from the United States SEC and you must answer my questions. Do you understand me?

BB: Look, I understand you. I am Yu. I would have you talk to Mi, but Mi not here. Hu is out of the country.

SEC: I'm the one asking the questions here and I don't care who is out of the country. I'm talking to Yu.

BB: Right

Endless comedy with Bit Brothers that Abbott & Costello would be proud of.

I personally do not believe/trust anonymous "email responses" to investors on public message boards, especially when the last Twitter/X communication from the company referenced "shareholders like Erik Riddle, Ignacio, Joonho Choi and Moe." One has to determine whether that X post (which is still there by the way) was from a spoofed/hacked account because Bit Brothers Ltd has disappeared into the wind, or whether some company representative actually thought it was a good idea and persuasive to identify shareholders like Ignacio and Moe. I have my opinion and respect anyone else to have their own.

Based on the clear written rules of Nasdaq listing requirements, the company is not even close to meeting those requirements and their egregious actions with free shares resulted in the delisting they deserved. The company is not interested in complying with any rules related to public company reporting. There was a press release stating site 2 would open in January 2024. Material events that would affect the stock price and shareholder sentiment must be publicly disclosed in press releases and/or real SEC filings. The referenced "email" contains material facts about construction delays that must be disclosed to all shareholders, not just some random person.

The removal of the website should be alarming, since you know, public company and whatnot. The utter lack of public communication since delisting should be alarming. The downward spiral in daily output from mine 1 should be alarming, if that link to an unidentified Bitcoin wallet can actually be trusted to belong to the company Bit Brothers Ltd connected to the stock symbol BETSF.

According to the last public annual report, the company had around $2m in revenues with a huge $90+m loss. How this stock even trades at 80 cents is inconceivable based on fundamentals. The interest in this stock died and it is interesting how more "updates" come from anonymous public message boards than the company itself. Fraudulent is another word, but again everyone is entitled to an opinion. Hope no one got burned to badly on this stock scam.

https://www.otcmarkets.com/filing/html?id=17473470&guid=O0Q-kFgG6XoFJth

Delisting Determination, The Nasdaq Stock Market, LLC, April 25, 2024, Bit Brother Limited.
The Nasdaq Stock Market LLC (the Exchange) has determined to remove from listing the securities of Bit Brother Limited, effective at the opening of the trading session on May 6, 2024.
Based on review of information provided by the Company, Nasdaq Staff determined that the Company no longer qualified for listing on the Exchange pursuant to Listing Rule 5550(a)(2).
The Company was notified of the Staff determination on November 10, 2023. The Company requested a hearing on November 17, 2023. On January 30, 2024, the Company received an additional delist determination pursuant to Listing Rule 5101. Also, on January 30, the Company deficiency under Rule 5550(a)(2) was declared moot. On March 5, 2024, upon review of the information provided by the Company, the Panel determined to deny the Company request to remain listed on the Exchange.
The Company securities were suspended on March 7, 2024.
The Company did not appeal the amended Decision to the Nasdaq Listing and Hearing Review Council (Council) and the Council did not call the matter for review. The Staff determination to delist the Company became final on April 19, 2024.

Remember, the company issued a public press release stating it planned to appeal the delisting notice. That was a material event. The company did not comply with reporting requirements when it chose not to issue a press release to advise on the decision not to appeal. Just facts. When a Chinese company operates out of a British Virgin Islands shell, this is what can be expected.

Here is a response to a shareholders questions, posted this morning on another board...

Dear investors, thank you for your attention and support to the company, and reply to the relevant questions as follows:
The shareholders' joint letter was not accepted by Nasdaq because the number of signatures was not enough and did not meet the requirements, but the company is still seeking all available plans and methods with the help of the listed company's advisory law firm to return to the Nasdaq Capital market as soon as possible.
The operation of the Site2 has been delayed due to uncontrollable factors such as weather and transportation accidents, but it is expected to be put into operation by the end of next week.
The deal for Site3 is still under negotiation.
Thank you for your interest in our company and your investment in our stock. We understand your expectations and concerns regarding share buy-back.
However, the decision to buy back shares involves a number of factors such as the company's financial health, operating strategy, and long-term growth. We need to fully consider these factors in order to make decisions that are in the best interest of the company and all shareholders.
At present, we are actively studying and evaluating various possible strategies, as well as various ways of working on capital. We firmly believe that only the long-term and stable development of the company can bring greater benefits to shareholders. We will continue our efforts to improve the company's performance and improve shareholder returns. We look forward to your understanding and support in this process.
We will seriously consider your suggestions, and if there is a share buy-back plan in the later stage, we will make relevant announcements in a timely manner as required.
The stock price in the secondary market is affected by multiple factors such as the macroeconomic environment, industry policy adjustment, capital flow stage, financial market situation and the company's own fundamentals.
At present, the company's production and operation conditions are good, and the Bitcoin market is showing an amazing and stable development trend.
In the future, the Company will continue to do a good job in operation and management, strive to improve profitability and achieve sustainable development, in order to promote the steady growth of the company's value. The specific information is subject to the company's subsequent disclosure announcement, the company will strictly abide by the rules and regulations of information disclosure, timely and accurately fulfill the disclosure obligations.
The Antminer S-19k Pro uses a new generation of ASIC chips with up to 120T of hash-rate, which can process a large amount of data in a short period of time and improve mining efficiency, it is one of the most powerful mining machines on the market today. At the same time, it has a power consumption ratio of 23J/T, which has high energy efficiency.

You seem like a nice dedicated earnest person. No disrespect intended. There are some harsh truths to consider. The company website no longer exists. Many, many old press releases have been scrubbed from the internet. This egregious lie was posted on X about challenging delisting:

To all dear shareholders:
​
Recently, we have received a lot of concerns and feedback about Nasdaq's delisting decision from shareholders like Erik Riddle, Ignacio, Joonho Choi and Moe, who have been closely following the company's progress and even provided many useful…— Bit Brother Limited (@BitBrotherLtd) March 13, 2024

Nasdaq records prove they never appealed anything. It was always a stock scam created to print shares and fool retail. It is questionable if the Bitcoin wallet is even real. But, anyone can check it to see mining production has cratered for months. They projected 0.4 coins a day at full capacity. 12 a month. That dropped to 0.3, 0.2, and even lower before the halving in April. 0.2 should be the new output but it's as low as 0.05 some days. Either they can't pay the energy bills or the equipment is failing or the entire scam is made up gibberish.

There is no market for this 80 cent stock, just smoke and mirrors with "new management" who say nothing, no more press releases, no more website, and the last SEC filing was the Nasdaq removal.

If they go for another "re-brand" with a new company name.....fool me once, shame on you....fool me twice, three times, four times....so many names in the history of this stock scam. Beware

All supports in place (N,S,E,W) and first level of sound boards in place. If the crew keeps up the pace, could energize the site as soon as this weekend.

I'm surprised to see you over here. How did pct work out.

Getting close... supports in place on the N and W side of the site and sound panels were being installed yesterday.

https://www.sec.gov/Archives/edgar/data/1543268/000135445724000300/xslF25X02/primary_doc.xml
ok no miracle! What will they do? Will they sell everything? After they raked in tens of millions of dollars, Sun it's time for tells us what's left
It's incredible that they don't say anything! irritating

the appeal must not have gone well! https://listingcenter.nasdaq.com/IssuersPendingSuspensionDelisting.aspx
We just have to wait to hear something!
Come on, SUN tell us something!

Am I wrong, or are there still SEC registration requirements for BETSF?
When a private company is required to register under Section 12(g)
https://www.sec.gov/info/smallbus/secg/jobs-act-section-12g-small-business-compliance-guide

Mmmm still here!
https://listingcenter.nasdaq.com/IssuersPendingSuspensionDelisting.aspx
the website is down, will it be restored? if and how.... ahh to know it!

Told you pumpers this would happen

That alias has been pumping this thing since 99% ago. I told these bagholders (and managements paid pumper minions) this would be under $1 now here we are.

Only shorts will ever be green on this POS

what's your hurry?
It's long here, it will still take weeks if not months!
I know you have to keep lowering the share but the more days that pass, the more likely it will be that they are doing something to solve the problems with NASDAQ!
Let's hope that once those who have made the shorts rich have been thrown out there will be a bit of leniency towards those who put money but never have a say in the matter!

Who has the power to appoint the CEOs of these scams? in my opinion those who finance them!

https://www.nasdaq.com/press-release/bit-brother-limited-plans-to-appeal-delisting-determination-by-nasdaq-hearing-panel
started around 20 March

The train that derails? LMAO

we can do it! have a good weekend!

don't miss the train

strong emotions here!
I got a ticket for I don't know what, maybe an adventure, maybe a horror, maybe a comedy!
Grab some popcorn and get excited, feel alive, fear makes you stronger!
But if it's not all a scam, why appeal? maybe there is some glimmer of hope!
And if they work a miracle here... for now, lots of suspense!
One ticket is enough, I recommend... cheap!
And you will be able to say, I was there!

But who cares, dude

In 2018, Mark founded their own consulting company called Crux Cloud Consulting, where they worked as the Founder and Consultant.
Mark later joined Homeward in 2019 as a Product Manager and was later promoted to Senior Product Manager. In 2021, they co-founded Bolt Mining, where they served as the COO until the company was acquired by Bit Brother Ltd.

wait it costs and it will take some time here it seems!
https://listingcenter.nasdaq.com/IssuersPendingSuspensionDelisting.aspx
perhaps it is better to find other shorts to cover a bit, the volumes languish

it almost seems like a redemption!
https://listingcenter.nasdaq.com/IssuersPendingSuspensionDelisting.aspx

Matter of time!

The time required to address a toxic warrant situation can vary considerably depending on the specific circumstances, the complexity of the matter, and the actions taken by the company and interested parties. However, it is possible to provide a general overview of the stages involved and the typical timescales associated with each stage:

Initial assessment: The initial assessment of the situation, including analysis of the terms of the warrants and the potential impact on the company's financial condition, may take from several days to several weeks, depending on the complexity of the case and the availability of relevant information .

Communication with investors: Initial communication with investors and stakeholders to disclose the situation and planned actions can take place within a few weeks of identifying the problem.

Negotiating with Warrant Holders: The process of negotiating with warrant holders to attempt to reduce or eliminate the impact of toxic warrants may take several weeks or months, depending on the complexity of the negotiations and the availability of counterparties.

Examining Legal Options: If the option of pursuing legal action against the warrant holders or challenging the terms of the warrants is considered, the legal process may extend for several months or even longer, depending on the complexity of the case and the legal procedures involved.

Capital Restructuring: If you decide to proceed with a capital restructuring, such as issuing new shares or implementing a merger or acquisition, the process may take a few months to several months to complete, depending on the complexity of the operation and the necessary regulatory approvals.

Overall, the process of addressing a toxic warrant situation can therefore extend from several weeks to several months, if not longer, depending on the specific circumstances and actions taken by the company and stakeholders. It is important that the company acts promptly and proactively to address the issue and protect the interests of shareholders and stakeholders.

Great day to cover up a bit!
Wow so big volumes for shorts!

redemption
https://listingcenter.nasdaq.com/IssuersPendingSuspensionDelisting.aspx
SUN How long has the website not been updated? the news page is as old as July!
This is also proof of WU's intention!
Who else is responsible?
They must return all shares!
Thanks even if you just try

It would appear to me that that those holding short started losing control of it this afternoon. I see a single buy of 10,900 shares at 2:38 that kicked things off and may have spooked those holding short. Looks like a desperate effort to cover some there five minutes before the close making it spike to $1.30 then they quickly sold it back to $1.15 on only 600 shares because they just cleared out the ask and easily smacked it back down. This smack down could have potentially neutered the buying pressure but it bounced back.

We see this kind of activity with toxic conversions but in the opposite. With toxic note conversions they want the highest price so they dump into the bid clearing it out then quickly buy it back up only needing a few shares to the previous ask. This stock is heavily sold short and today it appears to me that they are feeling some pressure from the weight of it. My opinion based on conjecture for sure, but I like what I am seeing. Add in plan by new management for a shares buy back program at these prices and we could see those holding short lose their minds.

come on Sun breaks the ass for the shorts!
communicate how many shares are in circulation!
we need to see something for the shareholders! Below 20 equals zero!

Wu seems to have operated in a way that facilitates the shorts!
Only slaps to the shareholders!
Let's see if Nasdaq will help Wu's friends to finish the job!
the shorts have control but they pay a lot of interest to have this control.
I like this volume!
It should worry those who have a lot to cover!

How many shares are there in circulation? What has been done and what will be done for toxic warrants?
Mar 14 81,899 16,168 19.74%
some people sell low anyway!
Here those who go short can afford to sell packages of 2, 3, 4 or 5 shares!
The cost is probably negligible.
Plus they pay interest on what they issue!
Sun shines:
When Q10?
What's the plan?

https://stockcharts.com/h-sc/ui?s=betsf&p=D&yr=0&mn=46&dy=0&id=p38090673899

Nice chart if you had been short!

What does NY law have to do with 2 peeps sitting in China? New CEO and CFO agreements for $30k annual salary violate New York minimum wage laws...30,000 usd is 215,811 rmb (chinese yuan), a very decent salary there.

Did you clear this through Letitia? Lol...send her after them...her employers? Lol...

What a dumb ass post...minimum wage in NY applied to Chinese in China...reaching there, sport.

Now, this woman is worth more than $30,000 a year...the other 2 not so much...

What's The Wallet worth today?

$BETSF

COOKED BOOKS

LOL after diluting 70 million dollars last year? bahaha changing CEO because the last one on a yacht sipping fine wine

More scam shenanigans. New CEO and CFO agreements for $30k annual salary violate New York minimum wage laws and are below the minimum threshold for executive overtime exemptions. The agreements clearly identify NY law.

https://www.natlawreview.com/article/reminder-new-york-state-employers-salary-basis-thresholds-increased-2024

More smoke and mirrors BS and Nasdaq officials will see right through this while laughing. A CEO and CFO earning less than minimum wage?!? Sure, just the type of company they want LOL.

And for the jokers falsely claiming $80m in cash, blah blah blah, this is what they are paying the leaders to run the show. Next dilutive share offering coming soon. Stay tuned!

I wrote my support email!
I hope the authorities are lenient and save our asses!
I hope everyone bull does the same!
I can only boast 2777 shares! I wanted to get another 1000 but I can't buy in the OTC market!
If OS are few then even a few shares will matter!
It all depends on whether the authority wants to save the shorts, thus legitimizing unlimited short selling!

we would be happy to see redemption
https://listingcenter.nasdaq.com/IssuersPendingSuspensionDelisting.aspx
If BETSF reaches an agreement with Nasdaq, the Nasdaq may authorize the change from "suspended" to "redemption" in the Listing Center!
Who will visit the link compulsively in the coming weeks?
The trial began at the end of January.
Wu may have tried to do something to save his own ass, maybe he managed to withdraw the toxic warrants... but it wasn't enough for the Panel! Perhaps the conflicting information on the MC depended on this?
so, kick Wu's ass and go!
If that was the case, for shorts, it would be very very very bad.
Let's see if they keep acting all snooty?
Mar 13 189,345 24,909 13.16
Mar 12 262,424 37,262 14.20
Mar 11 379,637 54,995 14.49
Mar 08 351,593 38,373 10.91
Mar 07 1,553,464 174,329 11.22

It is important to save costs!

Base Salary. The CFO shall have a nominal salary of US$30,000 per year and such compensation is subject to annual review and adjustment by the Board.
Base Salary. The Executive shall receive a base salary of $30,000 per year. Such compensation is subject to annual review and adjustment by the Company.

Mr. Wu's out, kicked from his lair,
Played the shorts game, with a hefty share.
Now Ms. Ling steps in, a new flair,
BETSF's tale, suspended, it's a dare.
(from IA)

Given Wu's demonstrated negligence, breach of fiduciary duty or wrongful conduct, which caused financial harm to the company and contributed to its delisting from Nasdaq, Could they take legal action against Wu? Couldn't they get some of that hefty salary back?
I would like them to do everything possible to clean up the toxic warrants and ensure leniency on the part of the authorities from a sanctioning point of view!

$BETSF Change of CEO - Form 8-K filed March 13, 2024

https://www.otcmarkets.com/filing/html?id=17365736&guid=9Sd-kKfyqm3AB3h

Then the scapegoats were sacrificed!
Amazing
I'm still not convinced by the MC. I wonder, will they have also withdrawn the toxic warrants?
Let's see if that's enough... how are shorts?

BETSF has little to no cash, that is why the company was giving shares away for next to nothing, read the filings instead of posting garbage:

https://www.bitbrother.com/SEC

Paid china stock pumpers have said shorts were toast before reverse split, before delisting, at $8s and yet the only one toast here is the bulls. No brainer short. This will be in trips this year IMO.

I vote $TRASH as new symbol

LOL 0 chance they win appeal and its all smokd and mirrors, they wanted to delist dude. money laundering 101

And yet the stock is 99% down, delisted, and yet we have the chiy-na stock gurus still calling for the moon, LMAO

They wanted to delist to cover up their money laundering

Market Cap is $5,142,360 based on the OS as of January 16th.

BETSF Wallet increased to 159.9 bitcoins worth $11,598,325 (an increase of $1 million in 1 week). Wallet $11.5 million, Cash around $90-$100 million and about $15 million in other assets. Liabilities are minimal, less than $4 million or so...

Go to this post 👉️ Wallet from a week ago, see link w/ current Wallet value... As of January 16, 2024, 4,285,300 Class A ordinary shares and 881 Class B ordinary shares were outstanding.Link 👉️ FORM F-3Outstanding Warrants
As of the date of this prospectus, January 16, 2024, there were 213,364 outstanding warrants to purchase Class A ordinary shares. Play it again and again, Sam, timing is everything 😺 GLTY (in & out, take profit). I think it'll be easier to play for some as "they" don't have the cover of dark (aftermarket & premarket trading)...JMO

$BETSF

They should appeal their stock symbol to change it to $POS too 😏