DigitalX

Macro Energy will become the first Australian-listed company to enter the Bitcoin phenomenon under plans spearheaded by Perth SMS entrepreneur Zhenya Tsvetnenko.

Perth company Digital CC has revealed its first sales results for investment in the virtual bitcoin industry with revenue reaching $US2.1 million to the end of June 2014.

Bitcoin trader Digital CC has claimed a profitable entry into the computer-generated currency sector, highlighting a $630,146 profit for three and a half months of business, despite the vehicle through which it conducted a backdoor listing recording an $11.8 million loss for the financial year.

The run of technology companies taking advantage of lacklustre mining stocks based in Perth is continuing, with three more backdoor listings expected to be completed this month and another towards the end of the year.

Perth-based residential rentals-dedicated website rent.com.au is going public, unveiling a $10 million-plus plan to list on the Australian Securities Exchange via a backdoor listing through Select Exploration.

Lithex Resources has scrapped its planned purchase of internet marketing business Mpire Media, which was the second business Perth entrepreneur Zhenya Tsvetnenko was seeking to list on the stock market.

A surge in the number of backdoor listings was one of the few positives on the stock market in 2014, and two new deals for technology companies show there is more to come.

Digital CC has announced it will be launching the beta version of its new remittance product AirPocket in the June quarter, shifting its focus away from the volatile bitcoin market.

Digital CC has completed a $3.5 million capital raising to fund the roll out of its remittance product AirPocket to Latin America and Caribbean markets.

The wave of backdoor listings on the ASX has delivered nearly $90 million of extra capital to the tech sector in Western Australia, but the trend hasn’t all been positive, research by Business News has found.

From mining to agriculture, technology and finance, 40under40 award winners have been making news this year.

Local entrepreneur Zhenya Tsvetnenko has tendered his resignation from the boards of listed companies DigitalX and Tech Mpire after being indicted by US prosecutors for participating in a scheme to defraud mobile phone customers.

Six Western Australian companies were winners in the 2016 Deloitte tech fast 50 awards, while NSW company Cashrewards took top spot overall.

DigitalX has re-energised its board with the appointment of a Perth-based CEO as the software company seeks to move forward from revelations earlier this year that its founder is facing charges in the US for fraud.

Michael Bourne has resigned as executive director at ATC Alloys.Atlas Iron has appointed general counsel Bronwyn Kerr as joint company secretary. 

Perth-based software companies DigitalX and Lateral have teamed up to leverage each other’s strengths in the creation of blockchain and ledger-based products.

An Australian company operating in the bitcoin and blockchain space has committed to become a 40 per cent shareholder in software company DigitalX by way of a $4.35 million investment.

Adrian Byass has resigned as non-executive director of Corazon Mining to focus on the increasing workload associated with European project development.  

Norwood Systems has closed its partially underwritten one-for-four entitlement offer, raising $1 million. Valid applications were made for $289,786 of shares, at 0.3 cents a share. The partial underwriter will subscribe for $718,729 of the shortfall. 

Peter Spitalny has resigned from the board of Ardiden. He has been a non-executive director since July 2018 and was interim executive technical director & chief executive from January to May this year.

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