GamePlan Inc., a Nevada corporation (OTCPink: GPLA) today announced the acquisition of Athena Bitcoin Inc., a Delaware corporation in a share exchange transaction.
Chicago, IL, – GamePlan Inc., a Nevada corporation (OTCPink: GPLA) (the “Company”) today announced the acquisition of Athena Bitcoin Inc., a Delaware corporation (“Athena”) in a share exchange transaction. Athena operates machines that allow users to purchase or sell digital currencies (“Bitcoin ATMs”) and provides other digital currency related services to consumers in the United States and other countries. The Company acquired Athena in exchange for the issuance of 3,593,644,680 newly issued “restricted” shares of voting common stock of the Company to the Athena shareholders on a pro-rata basis. Following the closing date of the acquisition (January 31, 2020), there were 4,034,605,200 shares of the Company’s common stock outstanding. Immediately prior to the closing, there were 440,960,520 shares issued and outstanding of the Company. In addition, the Company has reserved up to 375,000,000 shares of its common stock for future issuances upon conversions of its convertible debt.. Following the acquisition, the Company appointed new officers and directors upon accepting resignation of the previous officer and director.
Athena Bitcoin was founded in 2015 and is headquartered in Chicago. Under GamePlan’s ownership Athena will continue its core business focus of developing and operating a global Bitcoin/digital currency ATM network. Currently Athena has over 100 Bitcoin ATM’s in operation, spread over the United States and South America.
The US-operations of Athena had gross sales of $10.7 MM, $22.9 MM and $27.0 MM respectively in 2016, 2017, and 2018 according to its audited financial statements. The spread between the prices Athena buys and sells cryptocurrency in aggregate comprises Athena’s gross profit. For the years 2016, 2017, and 2018 Athena’s gross profits were respectively $0.76 MM, $1.85 MM, and $4.23 MM. The company expects to provide consolidated audited results for 2019 when they become available.
Athena’s CEO Eric Gravengaard and Eddie Weinhaus have been named CEO and President of GamePlan, respectively. In addition, Mr. Gravengaard and Mr. Weinhaus are now members of the Board of Directors.
CEO Eric Gravengaard. “We are pleased to complete transaction and we look forward to sharing our 2019 financial information when it is available. We intend to update investors on the company’s financial results and other material events as they unfold.”
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