20:47:28 EDT Thu 28 Mar 2024
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Shell Summary for Nov. 7, 2017

2017-11-07 21:06 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up a fraction to 796.59 Tuesday. Vince Gasparro's first capital pool shell, the halted Apolo Acquisition Corp. (ACA), plans to acquire CryptoGlobal Inc. for the shell's qualifying transaction. The terms are not yet available, except the shell will roll back 1 for 3.938, leaving it with 2,958,354 postconsolidated shares issued.

CryptoGlobal is a cryptocurrency mining company in Ontario. A cryptocurrency is a digital currency, for instance bitcoin, one of which is now worth $9,079. Besides buying cryptocurrencies directly, one may acquire them by engaging in cryptocurrency mining. It goes like this: You would connect your computer (through the Internet) to a cryptocurrency generating system, typically any blockchain system. (A blockchain is a digital ledger that cannot be edited without leaving a trace, so a blockchain system is supposed to be a highly secure tool for record keeping. There are many blockchain systems in development, but there is none yet on the fantastic scale that blockchain promoters enjoy suggesting. These promoters tout potential blockchain functions such as enabling instantaneous international wire transfers.) Once your computer is connected to a blockchain system, you would then allow that system to use your hardware and software capacity to maintain itself. In exchange for your computer capacity, you would then receive compensation in the form of cryptocurrency. Among the other cryptocurrencies are Ethereum (each worth $376), Dash ($375), Zcash ($310), Monero ($129) and Litecoin ($79). There are more than a thousand others, most of them worth just pennies.

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