Based on the revenue growth of Bitcoin Well to date, it is estimated that realizing a return on invested capital from machine deployment is typically approximately ten months, which further supports our model of finding and completing accretive acquisitions to support our continued growth. For context, the top ten performing ATM machines in the Bitcoin Well portfolio have been in operation for at least 20 months, with half of those coming from acquisitions and half from organic deployment. While retrofitting existing cash ATMs with Ghostlab software to support bitcoin transaction capabilities requires much less capital than deploying new machines, both require time to establish the ATM as a revenue generator. In addition, the Ghostlab software has utility and benefit for other, third-party ATM operators, representing an incremental revenue stream and valuable data source for Bitcoin Well with limited capital outlay. Bitcoin Well believes that Ghostlab has sufficiently de-risked the software to the point where it can now directly contribute to the service offerings provided by Bitcoin Well. Ghostlab’s proprietary ATM software enables bitcoin to be more accessible to the average person, and more importantly, makes it easier for operators to manage their businesses. In addition, our Ghostlab division is constantly engaged in R&D to provide long-term, innovative solutions to support an increasingly digital economy.”ĭeploying Ghostlab software allows an ATM operator’s customers to access bitcoin, thereby benefitting from additional functionality within existing businesses, hardware, and platforms. “Given there is a natural timing difference between the capital investment into machines and the revenue returns, being able to deploy Ghostlab onto existing cash ATMs means we have the opportunity for revenue without high capital costs. “Bringing Ghostlab fully in-house, positions Bitcoin Well to further expand our products and services, and affords the potential to create incremental revenue streams without the high capital requirements associated with buying, branding and deploying new machines,” said Adam O’Brien, CEO of Bitcoin Well. The common shares are subject to a statutory four month hold period. Total consideration for the Acquisition was based on an enterprise value of up to $3.2 million, satisfied through the issuance of 2,758,621 common shares of Ghostlab at a price of $0.29 per common share, the closing price on the 11 th trading day of the issuer, the assumption of debt of $1.8 million and the provision of an earn-out, all as more particularly described in the Company’s Augpress release. (“Ghostlab”) (the “Acquisition”), a software company that designs and develops software to improve the functionality and accessibility of modern financial technology and services, including Bitcoin ATM machines. (TSXV: BTCW) (“Bitcoin Well” or the “Company”), is pleased to confirm that it has closed the previously announced acquisition of Ghostlab Inc. 13, 2021 (GLOBE NEWSWIRE) - Bitcoin Well Inc. This is a program that will certainly be implemented into the daily routine.EDMONTON, Alberta, Sept. You can find Ghostlab at and get a more detailed look at it. This made for a very exciting moment in the QA Department. This enables you to view a website in any number of browsers/devices by only typing each URL once. The application creates a new URL that you can use in any browser, mobile included, and any move you make on the website in one of those browsers will affect every other browser in real time. We evaluated Adobe Edge Inspect and other tools, but ultimately decided Ghostlab was the best tool for the job. Our team needed an effective and efficient way to examine every supported platform. The time it takes to complete tasks such as inputting URLs and checking visuals only expands with the number of devices and browsers we support. When it comes to testing a website, specifically manual cross-browser testing, mundane tasks can slow you down. Save time by testing on several browsers at once with Ghostlab.
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