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Majic Wheels Corp. (OTC Pink: MJWL) recently summarized its online corporate presentation held on August 22, 2021, detailing company history, accomplishments, and future projections. Key highlights included a roadmap featuring a crypto mining farm pilot launch and a planned acquisition of an India crypto exchange. The company reported revenues of USD 5,281,500 for 2020 and USD 5,117,136 for the first half of 2021, projecting revenues of USD 22.9 million for 2021, and USD 142.7 million and USD 446.8 million for subsequent years. CGCX aims to establish a strong presence in multiple markets including India and the USA.
Majic Wheels Corp. (OTC Pink: MJWL) will host an online presentation on August 22, 2021, at 19:00 Eastern Time, focusing on its subsidiary CGCX. The presentation will highlight CGCX's achievements, revenue details, and future plans. Interested investors can register on the Majic website for the event. A follow-up Q&A session will occur on August 25, 2021, at 18:00 ET on Discord. Dr. Vin Menon, CGCX's founder, expressed excitement about sharing insights with shareholders. Majic aims to disrupt fintech and software development through strategic acquisitions.
Majic Wheels Corp. (OTC Pink: MJWL) announced its participation in the H.C. Wainwright Annual Global Investment Conference scheduled for September 13-15, 2021. The company aims to enhance its visibility to institutional investors as part of its strategy to uplist to NASDAQ. Majic's subsidiary, CGCX, has gained traction with institutional trading through its exchange platform and the newly launched CGCX iChain. The increased institutional interest in blockchain and cryptocurrency is seen as a positive indicator for Majic's growth prospects.
Majic Wheels Corp. (OTC Pink: MJWL) announced its subsidiary CGCX has entered a definitive agreement to provide custody services for iBG.Finance, with assets valued at USD 121.5 million. This partnership aims to safeguard the iBG DeFi tokens while generating potential revenue of 0.5% of the average value of assets under management. The iBG token is currently trading at USD 2.70. CGCX's custody solutions are notably insured against cyber threats, enhancing its appeal to institutional clients.
Majic Wheels Corp. (MJWL) announced strategic updates focused on enhancing shareholder value through acquisitions in the fintech and software development sectors. The company completed its acquisition of CGCX, a crypto trading platform, and aims for further acquisitions to expand its global footprint. Management is on track to up-list to NASDAQ and is engaging with institutional investors to boost the company's public profile. An online presentation is planned to outline future goals and CGCX's revenue updates.
Majic Wheels Corp. (MJWL) has launched the iChain Advanced Decentralized Blockchain Platform through its subsidiary CGCX, aimed at enhancing the fintech and software development sectors. This platform is designed to support high throughput and scalability for Decentralized Applications (DApps). The first project, a Smart DeFi Robo Advisory app called iBG, has already processed over 3,000 transactions in its first hour. CGCX plans further blockchain projects and offers public offering security insurance for digital assets. This move positions Majic as a significant player in the blockchain industry.
Majic Wheels, Corp. (MJWL) invites shareholders to a Q&A session on July 28, 2021, from 6:00 PM to 7:00 PM EST on Discord with Apollo Assets. This session is notable as it will include members of the CGCX team, following Majic's acquisition of the cryptocurrency exchange platform. David Chong, CEO, expressed excitement regarding shareholder engagement, while Dr. Vin Menon noted the heightened anticipation from investors. Majic aims to leverage acquisitions to establish a foothold in fintech and software development.
Majic Wheels Corp. (MJWL) has provided an update on its CGCX Cryptocurrency Mining Operations, focusing on Phase One, which will begin in Q4 2021. The mining project is set to target Ethereum, utilizing Ethash and Etchash algorithms, with an anticipated capacity of 500 mining rigs equipped with 6,000 GPUs. The expected hash rate will be 402,000 MH/s at a low power usage of under 1 MWh. The mining costs are projected at $0.07 per kWh, and the company aims for a carbon-neutral footprint surpassing 50%. Further updates and an online presentation are planned for July.
Majic Wheels Corp. (OTC Pink: MJWL) has successfully completed its acquisition of Calfin Global Crypto Exchange (CGCX) valued at USD 153.2 Million. The deal, structured on an all-equity basis, allows CGCX shareholders to receive restricted and preferred shares of Majic. In conjunction with the acquisition, Majic has settled all previous liabilities and completed necessary restructuring, enhancing its position in the fintech and software development sectors. The company plans an online presentation in July to provide further details about CGCX and its future.