Spin-off - OLB GROUP, INC.

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Form Type: 10-K

Filing Date: 2025-04-15

Corporate Action: Spin-off

Type: Update

Accession Number: 000121390025032064

Filing Summary: The OLB Group, Inc. is planning to spin off its subsidiary DMINT, Inc., which operates in the Bitcoin mining sector. This spin-off will create a standalone entity, allowing DMINT to focus independently on its operations. The spin-off distribution is contingent upon DMINT's Form S-1 Registration Statement being declared effective by the SEC and receiving approval for listing on the NASDAQ. Upon completion, DMINT will no longer be wholly owned by OLB Group, and its existing stockholders will own all of DMINT's common stock. This strategic decision is intended to enhance DMINT's operational focus and potentially promote financial growth for both entities. Current plans include completing the buildout of DMINT's operational facilities by 2025.

Additional details:

Company Name: OLB GROUP, INC.

Business Description: FinTech company providing merchant services and integrated business solutions

Number Of Shares Outstanding: 2368075

Market Value Of Equity: $3,343,377

Subsidiaries: ["eVance, Inc.","OmniSoft.io, Inc.","CrowdPay.Us, Inc.","DMINT, Inc."]

Acquisition Details: Acquired 100% of Moola Cloud, LLC on May 20, 2024 for $215,500.

Dmint Spin Off Status: Spin-off in process, dependency on SEC and NASDAQ approval.

Dmint Real Estate Purchases: Purchased 4.73 acres and a facility in Selmer, Tennessee for Bitcoin mining.

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