RocketFuel Blockchain Completes Reverse Merger Transaction with B4MC Gold Mines
RocketFuel Blockchain Company, a developer of blockchain-based technology that offers highly-efficient check-out systems to eCommerce, announced the completion of a reverse merger with B4MC Gold Mines, Inc. (“B4MC Gold Mines”). The merger was effected through a reverse takeover transaction pursuant to a Contribution Agreement whereby B4MC Gold Mines issued 17,001,312 shares of common stock to the shareholders of RocketFuel. As a result of the transaction, a change of control ensued whereby RocketFuel became a wholly-owned subsidiary of B4MC Gold Mines, and the RocketFuel shareholders became the holders of 75% of the issued and outstanding shares of B4MC Gold Mines. Over the next several weeks, the combined company (the “Company”) intends to change the name of B4MC Gold Mines to RocketFuel Blockchain, Inc. and file necessary applications to change its ticker symbol.
RocketFuel was formed on January 12, 2018 for the purpose of bringing highly efficient check-out systems to eCommerce. RocketFuel is in the process of developing check-out platforms based upon blockchain technology that are designed to increase speed, security, and ease of use. RocketFuel believes that users will enjoy seamless check-out and can forget about the clunky cart paradigm of the past. Using RocketFuel’s technology, merchants will be able to implement new impulse buying schemes that are unavailable in present day eCommerce sites.
Mr. Joseph Page, Treasurer of RocketFuel and incoming CTO of the Company, said, “We are very excited to bring new functionality enabled by the blockchain into modern eCommerce. Many very important new attributes of distributed public ledgers are believed likely to radically change value transactions in many fields. Our goal is to be among the first to convert blockchain functionality into real world working improvements that will bring great convenience to the consumer and merchants alike.”
Mr. Gert Funk, President of RocketFuel and incoming CEO of the Company, added, “We believe that the current eCommerce shopping cart paradigm is less than ideal and leads to very high cart abandonment rates. This is especially true with mobile checkout. With our eCommerce checkout solutions prototype, the total number of clicks to fully complete checkout is reduced from an average of about 70 down to 2 or 3 clicks. We believe that merchants have not previously been able to effect checkout from 3rd party host websites, and we aim to be the first to propose complete checkout in advertisements hosted on 3rd party sites – a remarkable economic advantage indeed.”