NaturalNano Announces the Submission of an Application by Bitcoin Bidder, Inc., Its Newly Formed Subsidiary, to Participate in the Public Auction of Bitcoins
NaturalNano, Inc. (PINKSHEETS: NNAN) (www.naturalnano.com) announced today that its subsidiary, Bitcoin Bidder, Inc. has submitted an application to the U.S. Marshals Service (USMS) and has wired a refundable $200,000 deposit to the USMS, for the opportunity to bid on Bitcoins which have been seized by the FBI and which will be sold at auction June 27th, 2014. The application is subject to review by the USMS, however in the event it is not approved, the deposit will be returned and we will not have an opportunity to bid at the auction.
Jim Wemett, NNAN CEO, commented,
"This is a great opportunity for NaturalNano to enter the new digital currency market. Virtual currencies are growing in use and value."
The auction information can viewed at: http://www.usmarshals.gov/assets/2014/bitcoins/
NaturalNano, Inc.
NaturalNano, Inc. (PINKSHEETS: NNAN) located in Rochester, New York, is engaged in the development and commercialization of material additives based on proprietary nanomaterial technology utilizing Halloysite Nanotubes (HNTs). The company provides industry with additives designed to improve the processing characteristics and mechanical properties of engineering thermoplastics, and additives designed to optimize the release of active agents such as vitamins and fragrance in cosmetic products.
NaturalNano holds patents relating to the commercial use of HNTs in composite materials as well as specialized techniques used in the refinement and processing of HNTs and intermediaries that it ships to customers worldwide. HNT materials used as a surface treatment have also shown promise in medical research devoted to stem cell collection and in trapping circulating cancer cells. The company is also exploring surface treatments relating to improved adhesion of protective coatings for polymer components used in numerous commercial applications.
NaturalNano, Inc.
http://www.naturalnano.com/
Cautionary Statement Regarding Forward-Looking Statements
Contains forward-looking statements regarding future events and future performance that involve risks and uncertainties that could materially affect actual results. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of NaturalNano's filings with the Securities and Exchange Commission. The most recent annual reports on Form 10-K and quarterly reports on Form 10-Q filed by NaturalNano provide information about these factors, which may be revised or supplemented in future reports to the SEC on those forms or on Form 8-K. We caution investors not to place undue reliance on forward-looking statements, and we do not undertake any obligation to update or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other such factors that affect the subject of these statements, except where expressly required by law.
Related News
Venture capitalist Tim Draper has been revealed as the winner of last Friday's USMS bitcoin auction. The US Marshals Service (USMS) has announced that a single, undisclosed bidder claimed all of the roughly 30,000 bitcoins seized from online black market Silk Road and sold in its recent auction. The winning bidder outbid all other parties for the 10 auction blocks, according to the USMS. Further, the bitcoins have already been transferred to the winner, according to Blockchain. The USMS previously said that it would begin notifying bidders as to whether they had secured any of the blocks....
Some new information is surfacing with regard to the highly-publicized bitcoin auction held by the United States Marshals Service (USMS) last week. That auction ran for twelve hours from 6am - 6pm. We're learning via a CoinDesk report that the USMS has announced that a single bidder has claimed all 29,656.51306529 bitcoins, which were made available in nine blocks of 3,000 coins, and one block of 2,656.51306529 bitcoins. The Service said the following in a Tuesday statement: The US Marshals Bitcoin auction resulted in one winning bidder. The transfer of the bitcoins to the winner was....
The fourth and final US Marshals (USMS) auction of bitcoins confiscated during the investigation into online black market Silk Road drew only 11 bidders today, the lowest total since the second auction held in December 2014. The government agency indicated that 11 registered bidders submitted a total of 30 bids on 22 blocks of bitcoins during today's auction. Twenty-one of the blocks were for 2,000 BTC (valued at $790,000 at press time), while the final block included 2,341 BTC (roughly $926,200). Participation was once again down sharply from the first auction of nearly 30,000 BTC held in....
As I predicted the Bitcoin price hit 550 USD early this morning (EST). Even though the price trend looked to be bearish, the price drop of more than 60 USD per BTC that we experienced today was probably mainly caused by US Marshal. In an announcement made for 11 hours ago, US Marshal explains that they will auction of the seized silk road bitcoins in an auction that will end on Monday 30th of June. This caused the Bitcoin price to take a plunge. US Marshal will auction off 29,656.51306529 bitcoins and they are accepting offers based on these terms: A manually signed pdf copy of the Bidder....
There's been a lot of chatter when it comes to the second bitcoin auction held recent by the United States Marshals Service (USMS). Overall, though, it's been somewhat of a mystery, with the general public not being made aware of who's won what. We've heard from Timothy Draper that he's managed to pick up 2,000 bitcoins out of the 50,000 bitcoins that were put up for auction (if you'll recall, he won the entire first auction held by the Marshals earlier this year), and now we're learning some juicy details from Barry Silbert. You're probably aware that Barry Silbert is well known in the....