OLB Group Provides Shareholder Update Prior to Upcoming Special Shareholder Meeting April 26, 2024, at 10:00 AM Eastern

NEW YORK, NY / ACCESSWIRE / April 23, 2024 / The OLB Group, Inc. (NASDAQ:OLB), a diversified Fintech eCommerce merchant services provider and Bitcoin mining enterprise issued a shareholder update today prior to the company's special shareholder meeting to be held on Friday April 26, 2024 - https://investors.olb.com/event/2024-special-meeting/.

The special shareholder meeting is scheduled for shareholders to consider an amendment to the Company's certificate of incorporation to affect a one-for-ten reverse stock split (the "Reverse Split"). The Reverse Split is intended to result in an increase in the Company's share price whereby the Company will be able to retain its listing on the Nasdaq Capital Markets.

Also, in connection with the finalization of the audit of its financial statements for the year ended December 31, 2023, the Company completed separate audited financial statements of DMint, Inc., the company's wholly owned Bitcoin mining subsidiary, in preparation for the previously announced spinoff (the "Spinoff"). In anticipation of the Spinoff, the Company has segregated its assets between the two entities to allow a more efficient break of the businesses. In connection with the Spinoff, it is anticipated that almost all of the non-cash depreciation expense for the Bitcoin mining computers which has been recognized in OLB's financial statements, will be solely reflected in the DMint financial statements.

Although it is difficult to forecast a record date and closing date of the Spinoff, DMint continues to respond to SEC comments on the registration statement for the Spinoff, which remains filed on a confidential basis.

The Company's balance sheet remains strong as it continues to carry no debt. Despite some concerns raised to management that the company is in search of capital; management does not anticipate the need for any dilutive equity financing.

Shareholders and interested investors are invited to submit questions for the shareholder meeting at [e-mail]. A Letter to Shareholders will be issued after the Shareholder Meeting to ensure all shareholders are informed.

Investors and shareholders are encouraged to send questions to management to be posted and answered at the Company's website at https://investors.olb.com/investors-faq/.

Future OLB Press Releases and Updates

Interested investors or shareholders can be notified of future Press releases and Industry. updates by email: [e-mail].

For more information about The OLB Group, please visit https://www.olb.com and financial information https://investors.olb.com/