TULSA, OK--(Marketwired - Feb 25, 2014) - Efftec International, Inc. (OTC: EFFI): The Company is pleased to announce that it has fully completed the purchase of BitBank. Efftec now owns all the rights and privileges associated with the application, and is currently in the process of transferring all the associated source code to the Company's developer account.
Upon full transfer of all coding and property, our immediate plan is to analyze the source code to gauge the feasibility of our intended additional development features. Upon completion of this analysis, we plan to immediately start the ground-up improvement of this valuable application property. As the app development market is highly competitive, revealing the most intimate details of our production & expansion plans for this app would leave them exposed to imitation, we will not disclose the most extreme particulars on a feature-by-feature basis. Our general intent is to expand on BitBank to position it as the go-to source for cryptocurrency information in general, speaking not just of Bitcoin, but Litecoin, Ripple, Namecoin, and so on.
For all those who follow the cryptocurrency market as a whole, one may recognize the 'growing pains' associated with any new or novel technology or sector. Some can be quick to mainstream adoption, some can require more of a proving time until the public at large trusts and accepts them as viable. We believe that the crypto-sector is at this point very much well-established, and has in fact gained such widespread acceptance: in January of 2014, the State of California has changed their banking laws to fully legalize and allow for the functional use of cryptocurrencies in commerce. As California often leads the United States in terms of proactively adopting legislation to stay with the times, we believe this to be one small step in the progression of cryptocurrencies as a mainstream currency. Efftec intends to capitalize on the expansion of this market in the months and years to come.
The Company will release further details on our developments in regards to BitBank, and on other acquisitions in related sectors which are currently under discussion and negotiation.
Efftec International, Inc. (OTC: EFFI) is a holding company with four operating subsidiaries. Efftec's core focus is on the acquisition and development of proprietary technologies. The Company is actively expanding its footprint in the technology marketplace through acquisitions of profitable, revenue-producing companies with proven business models.
This Press Release may contain, among other things, certain forward-looking statements, including, without limitation, (i) statements with respect to the Company's plans, objectives, expectations and intentions; and (ii) other statements identified by words such as "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans" or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control).