[ACCESSWIRE]
TORONTO, ON / ACCESSWIRE / October 18, 2017 / Modern Mobility Aids, Inc. (OTC PINK: MDRM), the Nevada-based biotech company, CEO Tito DiMarco announced today a plan to refocus its business to cryptocurrency.
The Board recently appointed DiMarco as its interim CEO. DiMarco will use acquisitions of several technologies to transition Modern Mobility Aids to a cryptocurrency business.
The company's objective is to nurture innovative solutions through investments and operations in strategic cryptocurrency and related technologies, DiMarco said.
"In addition to the new management with experience in cryptocurrency operations and technology that will be taking over, advanced e-wallet, Blockchain and mining platform will give MDRM a very mature position in this evolving market. We are pleased to be able to report significant progress in achieving our objective," DiMarco added.
Modern Mobility Aids Inc. has, through its Canadian subsidiary, MDRM Group (Canada) Ltd., signed an LOI to acquire Marbles Mining Company Inc., which has developed a unique mining model hosted on its own private blockchain. The future of the marble currency and its 2020 project, a seed-to-sale blockchain, will facilitate corporate use of cryptocurrency to expedite and reduce supply chain costs for OEMs.
The Marbles Mining Company also brings a new method of mining cryptocurrency through its game development. Participants of all ages will have a zero-cost opportunity to play and win. The game is expected to bring over 100,000 users in its first year of deployment.
"The partnership with Modern Mobility Aids allows the marbles mining community to have the utmost confidence in the next generation of mining and allows non-tech consumers to participate and invest in cryptocurrency," said CEO of the Marbles Mining Company, Mark Gobuty.
Modern Mobility Aids Inc. has, through its Canadian subsidiary, MDRM Group (Canada) Ltd., also signed a LOI with 2539296 Ontario Limited to acquire the rights and IP of the Satchel Company of Malta and the CryptoCase™ ultra secure digital wallet in addition to all digital IP from Briks IT of Poland.
"The ability to bring this innovative product to the global market furthers our strategy of investing in the cryptocurrency space. It also reinforces our commitment to leading-edge research and development in support of these rapidly growing alternative peer-to-peer transfers," DiMarco said.
"Integration with the Marbles Mining Company and its foundation is a perfect fit for our acquisition," said Satchel Company CEO, Mikhael Kushevsky, who brings more than two decades of technology-leading platform development, including digital wallet development and tokenization.
In August 2017, the value of publicly-traded cryptocurrency surpassed USD 150bn for the first time. From January 1 to August 29, the aggregate market cap of existing cryptocurrencies climbed from about USD 17.7bn to USD 1161bn, according to Investopedia.
About Modern Mobility Aids, Inc.
Modern Mobility Aids, Inc. is an emerging company strategically focused on the evolution of mobile commerce and blockchain monetization. The company is listed on the New York OTC Pink Market and currently trades under the ticker symbol MDRM.
For More Information, Please Contact:
Tito DiMarco, President, Treasurer and Secretary
Email: [email protected]
Tel: 416-890-0482
Safe Harbor
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding of discussion, the words "excited," "plan," "believe," "intends," "expects," "focused on," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. There are no guarantees or assurances that any initiatives or negotiations will result in what the company had originally intended. Any investment made into Modern Mobility Aids, Inc., would be classified as speculative and risky. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional or adequate financing, government approvals or changes to proposed laws and other risks and uncertainties further stated in the company's financial reports and filings.
SOURCE: Modern Mobility Aids, Inc.
