FREMONT, Calif., Jan. 29, 2018 (GLOBE NEWSWIRE) -- DPW Holdings, Inc. (NYSE American: DPW) ("DPW" or the "Company"), a diversified holding company, stated today that its subsidiary, Digital Power Lending, LLC anticipates launching a network of cryptocurrency ATMs (“ATMs”). The ATMs will allow for the purchase and sale of cryptocurrencies along with cash withdraws. The first ATMs will be installed in 5 hospitality locations associated with DPW Holdings, Inc. The ATMs distributed and managed by Digital Power Lending will focus initially on Bitcoin (BTC), Bitcoin Cash (BTH), Ethereum (ETH) and Litecoin (LTC) with other cryptocurrencies to be included later.
The Company also announced that Digital Power Lending is still awaiting the completion of the review of its pending application for a California Finance Lender License. The Company disclosed that Digital Power Lending has undergone a series of standard and customary questions and all corrections have been minor and procedural.
“We are very pleased to announce our development of a network of cryptocurrency ATMs which will be initially located in Southern California. Our goal is to build a national brand and network with multiple cryptocurrencies readily available for consumers,” said William “Bill” Corbett, the CEO and Manager of Digital Power Lending. Mr. Corbett added, “With the completion of our application and the pending approval of our California Finance Lending License, I am thrilled to utilize my extensive Wall Street network to provide capital to both public and private companies including those in the exciting cryptocurrency market. Digital Power Lending will be seeking to lend out money strategically to entities that qualify. Our primary mission is to be a pro-active lender and facilitate the national distribution of crypto ATMs while the traditional banking industry does not serve the cryptocurrency market.” The Company noted that the anticipated distribution of the ATMs may be subject to regulatory review or approval.
DPW Holdings, Inc. reminds all shareholders, investors and the public to participate in the investor webinar this Wednesday, January 31, 2018, after the close of the financial markets at 5:00pm EST or 2:00pm PST. To participate please send an email to IR@DPWHoldings.com to receive an invitation to register for the webinar. Attendees can participate either through online access or listen by calling the designated number received upon registration.
ABOUT DPW HOLDINGS, INC.
Headquartered in Fremont, CA, DPW Holdings, Inc., www.DPWHoldings.com, is a diversified holding company that, through its wholly owned subsidiary, Coolisys Technologies, Inc., is dedicated to providing world-class technology-based solutions where innovation is the main driver for mission-critical applications and lifesaving services. Coolisys’ growth strategy targets core markets that are characterized by “high barriers to entry” and include specialized products and services not likely to be commoditized. Coolisys through its portfolio companies develops and manufactures cutting-edge resonant switching power topologies, specialized complex high-frequency radio frequency (RF) and microwave detector-log video amplifiers, very high-frequency filters and naval power conversion and distribution equipment. Coolisys services the defense, aerospace, medical and industrial sectors and manages four entities including Digital Power Corporation, www.DigiPwr.com, a leading manufacturer based in Northern California, 1-877-634-0982; Digital Power Limited dba Gresham Power Ltd., www.GreshamPower.com, a manufacturer based in Salisbury, UK.; Microphase Corporation, www.MicroPhase.com with its headquarters in Shelton, CT 1- 203-866-8000; and Power-Plus Technical Distributors, www.Power-Plus.com, a wholesale distributor based in Sonora, CA 1-800-963-0066. Coolisys operates the branded division, Super Crypto Power, www.SuperCryptoPower.com.
Digital Power Lending, LLC, www.DigitalPowerLending.com, a wholly owned subsidiary of the Company, is based in Fremont, CA, and is a California private lending company dedicated to strategically providing capital to small and middle size businesses for an equity interest in addition to loan fees and interest. Super Crypto Mining, Inc. www.SuperCryptoMining.com is a wholly-owned subsidiary of the Company, is based in Fremont CA that leverages its engineering expertise and existing locations to create crypto currency mining facilities across the globe. Excelo, LLC, www.Excelo.com, a wholly-owned subsidiary of the Company, is a national search firm specializing in fulfilling strategic executive, professional and hi-tech placements for businesses delivering world-class services. DPW Holdings, Inc.’s headquarters is located at 48430 Lakeview Blvd., Fremont, California, 94538; 1-877-634-0982. For Investor inquiries: IR@DPWHoldings.com or 1-888-753-2235.
The foregoing release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the acquisition and the ability to consummate the acquisition. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.DPWHoldings.com.
Source: DPW Holdings, Inc.