Former Beverage Company Long Blockchain Corp..

Receives Subpoena From SEC
Nevertheless, in April Nasdaq Stock Market (Nasdaq) announced it would delist Long Blockchain Corp.’s inventory because of low market capitalization. The Business responded with a decision to place its shares on the Pink Current Information grade operated by the OTC Markets Group Inc.. Following delisting, Long Blockchain Corp. remained a public company.

During a filing today, the company allegedly said that the subpoena, originally dated July 10, requested certain records from Long Blockchain Corp.. The firm declined to provide further details, stating:

“Establishing stronger loyalty with customers that are engaged in loyalty programs through advancements in technology is the key to future expansion and massive scalability. ”

The New York-based company announced it had changed its line of business to loyalty program schemes, which will be performed with a new subsidiary called Stran Loyalty Group. New CEO Andy Shape said in a media release:

Long Blockchain Corp. combined the blockchain planet in January by changing its name from “Long Island Iced Tea,” a move which caused a 500% gain in the business ’s inventory in a blockchain-related euphoria. The company said then it could offer 1.6 million shares at $5.25 per share with the aim of moving into Bitcoin (BTC) mining.

According to Bloomberg, Long Blockchain Corp.’s economy worth is now less than $5 million, while in December last year it totalled almost $70 million later changing its name.

Released at Thu, 02 Aug 2018 02:59:00 +0000

Former drinks manufacturer-turned-blockchain development company Long Blockchain Corp. has been issued a subpoena from the U.S. Securities and Exchange Commission (SEC), Bloomberg reported August 1.
“The business is fully cooperating with the SEC’therefore analysis. The company cannot predict or determine whether any proceedings may be instituted from the SEC in connection with the subpoena or the result of any proceedings that could be instituted. ”