December 15, 2017 / 7:13 PM / 8 months ago

BUZZ-Riot Blockchain up 300 pct since saying it is a Bitcoin co

** Riot Blockchain surging 10 pct on Fri, bringing its gain to 300 pct since the biotech co changed its name on Oct 4 to something related to cryptocurrencies and announced it was changing its business focus to Bitcoins

** Formerly called Bioptix, RIOT on Dec 4, said a “prominent global asset manager with over a trillion dollars under management” invested $10 mln in its Coinsquare digital currency exchange

** On Dec 11, RIOT said its majority-owned TessPay unit would buy Canadian penny-stock gold exploration co Cresval Capital

** “If completed, the Proposed Transaction will result in TessPay becoming the first of Riot Blockchain’s investments to become a public company and will give investors direct access to the blockchain ecosystem,” Cresval said in a news release ** CRV at the end of 2016 had a working capital deficit of CAD $195,359 and an accumulated loss of CAD $2,420,233 since inception

** RIOT had rev of $24,175 in the Sept qtr and it lost $5.3 mln; the co’s market cap is approx $207 mln, according to Thomson Reuters data

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