DNA Brands, Inc. (OTCMKTS:DNAX)
DNA Brands, Inc.(OTCMKTS:DNAX) was unchanged in Friday’s trading session after announcing the acquisition of TokenTalk.io as it moves to expand its presence in the blockchain space. TokenTalk.io is a Blockchain Consultancy Group with operations in the Initial Coin Offering (ICO) space.
The acquisition marks an important step in the company’s push to pursue opportunities in the exponentially growing ICO market. TokenTalk.io will provide DNA Brands, Inc. (OTCMKTS:DNAX) with an pipeline of international projects. The acquisition has operations across the world in ICO hotspots such as India, Singapore, and London.
“We believe our pivot into this growing sector to be well-timed, given the on-going strength of Bitcoin and Cryptocurrencies in general. The ICO model has been adopted by NASDAQ listed Overstock.com, who are planning a raise of $500 million through an ICO,” said CEO Adrian McKenzie.
DNA Brands’ Bitcoin ATM Machines
The acquisition of TokenTalk.io comes just days after DNA Brands, Inc. (OTCMKTS:DNAX) confirmed the closure of a distribution agreement with Bitcoindepot.com. Pursuant to the agreement, the company will be placing Bitcoin ATM machines across the country. The machines will allow customers to buy and sell bitcoin and conduct monetary transactions.
DNA Brands, Inc. (OTCMKTS:DNAX) has already received multiple orders for the placement of the ATM machines. The company’s ultimate goal is to have the machines placed throughout the country. The management team has also scheduled a meeting with Bitcoindepot.com to discuss further integration.
“We will be assembling a sales team due to the tremendous demand for Bitcoin. We are looking to revolutionize and make Bitcoin ATM machines as accessible, and common to use as any other ATM machine. In an effort to convey complete transparency, we will be looking to update the market on a weekly, or bi-weekly basis,” said Mr. McKenzie.
Medical Marijuana Business
In addition to pursuing growth opportunities in the digital currencies space, DNA Brands, Inc. (OTCMKTS:DNAX) is also expanding its footprint in the medical marijuana sector. The company is currently focusing on ancillary businesses related to medical marijuana and industrial hemp markets.
In June, the company signed a Letter of Intent for the acquisition of majority ownership in Online Medical Resource Company.
Online Medical Resource website provides over 17,000 pages of content which include medical health articles, blogs and videos. There are also over 16,000 different medicinal products for sale on the site. The company plans to focus its efforts online and physically by pursuing sales opportunities in the North and Southeastern States as they are in the infancy of the medical marijuana space.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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