Fleming Island, Florida, Dec. 22, 2020 (GLOBE NEWSWIRE) -- December, 22, 2020 Fleming Island, Florida, OBITX, Inc (OTC:OBTX), an advanced software development and services company specializing in blockchain technologies and decentralized processing, announced today it has signed an LOI in order to negotiate the final terms for entering into a binding purchase agreement for the purpose of acquiring a check cashing kiosk business from Kronos Advanced Technologies, Inc. (OTC:KNOS). OBITX sees this transaction as a stepping stone in developing and acquiring a larger, related chain of check cashing machines throughout the US. OBTX is planning to offer discounted check-cashing services and will promote the new services through online advertising, in-store signs, and special events, all aimed at consumers who use a check-cashing services.

Web-enabled check cashing kiosks merge unique and exclusive check cashing capabilities with Internet-based applications. Upon the final acquisition OBTX will begin development of Bitcoin buy/sell capabilities to be integrated into a nationwide network of a growing number of kiosks. Services OBITX Company plans to integrate will include BITCOIN ATM transactions, money orders and transfers as well as check cashing.

Michael Hawkins, the OBITX CEO stated, “With our goal of acquiring a larger database of customers having several hundred already placed check cashing machines Nationwide, if successful in moving to this next phase, we will be able to expand the current services offered with additional blockchain and cryptocurrency features to be added down the road. This is a highly strategic step in the development of our business model. We believe this is the right fit for our team with emphasis on our passion for development. We thank our largest preferred shareholder, BOTS, Inc. (OTC:BTZI) for bringing this opportunity to our attention.”

About OBITX:

Headquartered in Fleming Island, Florida, OBITX, Inc., (OTCMKTS: OBTX) is a consulting and services organization specializing in blockchain technologies and decentralized processing.