BTCS Strengthens Board with New Appointment
17 October 2017 - 1:53PM
ADVFN NewsWire
Silver Spring, MD - (InvestorsHub NewsWire - October 17, 2017) -
BTCS Inc. (OTC:
BTCS) ("BTCS" or the "Company"), a blockchain technology focused
company, appointed David M. Garrity, CFA, CEO of GVA Research LLC,
to serve as an independent member of the board of directors.
Mr. Garrity has over 25 years' experience in the financial services
industry, he has held senior roles including CFO and board of
director positions for both publicly held and private companies,
and has extensive experience in several disciplines including
operating, advisory and research, and is CEO of New York City based
consulting firm, GVA Research.
"In principal and advisory roles, David has supported emerging
growth companies in commercializing their services and scaling
operations to benefit consumers and in the process create superior
investor returns; as such, we are very excited to have him join our
board of directors," stated Charles Allen, CEO of BTCS.
During 2008 and 2009, David served as CFO and Board Director at
Interclick, Inc., a behavioral targeting internet advertising
network. From 2007 to 2011, Interclick revenues grew organically
from $7mm to $150mm (115% compound annual growth), making it one of
the fastest growing companies listed on Nasdaq. In December 2011,
in an all-cash offer, Yahoo acquired Interclick for $270 million.
At Aspen Group, owner & operator of online university Aspen
University, David served as CFO and was integral to taking Aspen
public, raising growth capital and developing relationships with
investors, regulators and institutional clients. David presently
serves as acting CFO of Mutualink, Inc., a private company
developing secure distributed networking technologies to support
communications interoperability for public- & private-sector
clients.
"Blockchains reduce transaction time and cost while providing
superior authentication and verification," says Garrity. "These
features should improve a wide range of sectors from financial
services to healthcare to logistics and beyond. As such,
blockchains ought to be considered fundamental to improving
productivity and raising living standards globally."
David also serves on the advisory board for Venture.co Holdings,
Inc. which develops financial technology and operates a funding
platform for early-stage companies. David consults for The World
Bank Group, on financial inclusion, mobile technology, and
technology strategy for health initiatives in southern Africa. His
paper on mobile money and disaster relief is published in
"Technologies for Development: What is Essential?" (Springer
Verlag).
"Through its proposed merger with Blockchain Group ("BGL"), BTCS is
poised to expand into Asian markets where blockchain application
development and deployment is accelerating. As such, BTCS is
progressing towards being a global blockchain pioneer," says
Garrity.
Prior to corporate service, David had an extensive career in
investment research during which he co-founded start-up boutique
firm American Technology Research and was voted a WSJ All-Star
Analyst. David appears regularly on CNBC, BNN, Bloomberg, The
Financial Times, Asia Times, Yahoo Finance, and other media
outlets.
About BTCS:
BTCS is an early entrant in the Digital Asset market and one of the
first U.S. publicly traded companies to be involved with Digital
Assets and blockchain technologies. Subject to additional
financing, BTCS plans to create a portfolio of digital assets
including bitcoin and other "protocol tokens" to provide investors
a diversified pure-play exposure to the bitcoin and blockchain
industries. BTCS intends to acquire digital assets through: open
market purchases, participating in initial digital asset offerings
(often referred to as initial coin offerings). Additionally, BTCS
may acquire digital assets by resuming our transaction verification
services business (often referred to as mining) through outsourced
data centers and earning rewards in digital assets by securing
their respective blockchains. BTCS is also keenly focused on growth
through acquisition and has signed a non-binding letter of intent
to merge with Blockchain Global Ltd. The blockchain is a
decentralized public ledger and has the ability to fundamentally
impact all industries on a global basis that rely on or utilize
record keeping and require trust. For more information visit:
www.btcs.com
Forward-Looking Statements:
Certain statements in this press release, including those related
to the planned merger constitute "forward-looking statements"
within the meaning of the federal securities laws. Words such as
"may," "might," "will," "should," "believe," "expect,"
"anticipate," "estimate," "continue," "predict," "forecast,"
"project," "plan," "intend" or similar expressions, or statements
regarding intent, belief, or current expectations, are
forward-looking statements. While the Company believes these
forward-looking statements are reasonable, undue reliance should
not be placed on any such forward-looking statements, which are
based on information available to us on the date of this release.
These forward-looking statements are based upon current estimates
and assumptions and are subject to various risks and uncertainties,
including without limitation those set forth in the Company's
filings with the Securities and Exchange Commission, not limited to
Risk Factors relating to its digital currency business contained
therein and contractual issues that arise in the negotiations of
the planned merger. Thus, actual results could be materially
different. The Company expressly disclaims any obligation to update
or alter statements whether as a result of new information, future
events or otherwise, except as required by law.
BTCS Investor Relations:
Michal Handerhan
BTCS Inc.
(202) 430-6576
IR@btcs.com