OLB Group (OLB) Announces 1M Share Buyback

The OLB Group, Inc., (NASDAQ: OLB), a diversified Fintech eCommerce merchant services provider and cryptocurrency mining enterprise, announced today that its Board of Directors has authorized a share repurchase program of up to 1,000,000 million shares of its outstanding shares of common stock.

Ronny Yakov, CEO of OLB Group, said, “Our Board of Directors has authorized this stock buyback to exercise our financial flexibility to buy our common stock from time to time as market conditions warrant. With no outstanding corporate debt and a, historically low, market valuation of 0.4 times projected 2022 revenue of $35 million, the Company sees an opportunity to reduce its shares outstanding at very attractive valuations."

The Board authorized the Company to purchase its common stock periodically on a discretionary basis through open-market purchases utilizing existing cash balances. The amount and timing of purchases under the share buyback program is contingent upon cash on hand, cash flows from operations, general market conditions and other factors. The program is anticipated to commence following the release of OLB’s second quarter financial statements in August. The program does not require the Company to acquire a minimum amount of its common stock, has no set termination date and may be suspended or discontinued by the Board of Directors at any time.

Other Business Updates:

• No corporate debt as of March 31, 2022
• Projects positive cash flow by end of 2022
• $4 million cash on hand as of March 31, 2022
• Insider Share Ownership Approximately 32%
• Diversified revenue sources (eCommerce merchant services and Bitcoin mining)
• 98% of revenue earned from profitable eCommerce operations
• Annualized revenue run rate at $36 Million vs. 2021 revenue of $9.6 Million
• As of July 7, 2022, company market valuation less than $14 Million and Price to Sales Ratio of 0.4
• Increase in revenues projected from organic growth, acquisitions, new initiatives in crypto payments and Bitcoin mining
• eCommerce and Bitcoin mining annualized revenue run rate projected to be between $36 million and $38 million by the end of 2022

Future OLB Press Releases and Updates

Interested investors or shareholders can be notified of future Press releases and Industry Updates by e-mailing: [email protected]

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