OTCPK:BITC.F

Stock Analysis Report

Executive Summary

First Bitcoin Capital Corp. engages in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange.

Risk Analysis

Revenue has declined by -100% over the past year

Has less than 1 year of cash runway

Auditors have raised going concern risks

Makes less than USD$1m in revenue ($0)

+ 2 more risks


Snowflake Analysis

Imperfect balance sheet with weak fundamentals.

Share Price & News

How has First Bitcoin Capital's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BITC.F has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-16.7%

BITC.F

2.4%

US Software

1.7%

US Market


1 Year Return

0%

BITC.F

39.0%

US Software

23.2%

US Market

Return vs Industry: BITC.F underperformed the US Software industry which returned 39.8% over the past year.

Return vs Market: BITC.F underperformed the US Market which returned 24.4% over the past year.


Shareholder returns

BITC.FIndustryMarket
7 Day-16.7%2.4%1.7%
30 Day-28.1%7.8%4.2%
90 Day-33.3%19.4%11.9%
1 Year0%0%40.2%39.0%25.8%23.2%
3 Year117.4%117.4%144.0%134.3%52.8%42.9%
5 Year1349.3%1349.3%198.3%177.0%75.2%55.8%

Price Volatility Vs. Market

How volatile is First Bitcoin Capital's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is First Bitcoin Capital undervalued compared to its fair value and its price relative to the market?

58.96x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate BITC.F's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate BITC.F's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: BITC.F is unprofitable, so we can't compare its PE Ratio to the Software industry average.

PE vs Market: BITC.F is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BITC.F's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BITC.F is overvalued based on its PB Ratio (70.8x) compared to the US Software industry average (5.9x).


Next Steps

Future Growth

How is First Bitcoin Capital forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

15.8%

Forecasted Software industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as First Bitcoin Capital has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

  • Take a look at our analysis of BITC.F’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  • While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on the OTC Markets Website. If you are looking for more of a qualitative research into the company, you can access First Bitcoin Capital's filings and announcements here.
  • Explore growth companies in the Software industry.

Past Performance

How has First Bitcoin Capital performed over the past 5 years?

46.4%

Last years earnings growth


Earnings and Revenue History

Quality Earnings: BITC.F is currently unprofitable.

Growing Profit Margin: BITC.F is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if BITC.F's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: Unable to compare BITC.F's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: BITC.F is unprofitable, making it difficult to compare its past year earnings growth to the Software industry (20.8%).


Return on Equity

High ROE: BITC.F has a negative Return on Equity (0%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is First Bitcoin Capital's financial position?


Financial Position Analysis

Short Term Liabilities: BITC.F's short term assets ($31.4K) do not cover its short term liabilities ($145.4K).

Long Term Liabilities: BITC.F has no long term liabilities.


Debt to Equity History and Analysis

Debt Level: BITC.F's debt to equity ratio (0.06%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if BITC.F's debt to equity ratio has reduced over the past 5 years.


Balance Sheet

Inventory Level: BITC.F has a low level of unsold assets or inventory.

Debt Coverage by Assets: BITC.F's debt is covered by short term assets (assets are 96.1x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: BITC.F has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: BITC.F has less than a year of cash runway if free cash flow continues to reduce at historical rates of -70.5% each year


Next Steps

Dividend

What is First Bitcoin Capital's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.6%industryaverage1.3%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate BITC.F's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate BITC.F's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if BITC.F's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if BITC.F's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of BITC.F's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of First Bitcoin Capital's salary, the management and board of directors tenure and is there insider trading?


CEO

Greg Rubin (59yo)

0yrs

Tenure

0

Mr. Gregory Rubin, also known as Greg, DDS serves as the Chief Executive Officer and Director at First Bitcoin Capital Corp. He served as Chairman of Yasheng Eco-Trade Corporation since August 2008. Mr. Ru ...


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Greg Rubin (59yo)

    CEO & Director


    Board Members

    • Greg Rubin (59yo)

      CEO & Director

      • Simon Rubin

        Chairman of the Board

        • Vyacheslav Abramov

          Chairman of Advisory Board

          • Tenure: 6yrs
        • Yuri Abramov

          Director

          • Tenure: 5.8yrs

        Company Information

        First Bitcoin Capital Corp.'s company bio, employee growth, exchange listings and data sources


        Key Information

        • Name: First Bitcoin Capital Corp.
        • Ticker: BITC.F
        • Exchange: OTCPK
        • Founded:
        • Industry: Application Software
        • Sector: Software
        • Market Cap: US$30.351m
        • Shares outstanding: 303.51m
        • Website: https://www.BITCoinCapitalcorp.com

        Number of Employees


        Location

        • First Bitcoin Capital Corp.
        • Royal Centre
        • Suite 1500
        • Vancouver
        • British Columbia
        • V6B 6H5
        • Canada

        Listings

        TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
        BITC.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDJul 2005

        Biography

        First Bitcoin Capital Corp. engages in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange. The company develops digital cryptocurrencies and blockchain technologies. It owns and operates various digital assets, including CoinQX.com, a cryptocurrency exchange; iCoiNEWS.com, a real time cryptocurrency and bitcoin news site; BITminer.cc, which provides mining pool management services; and 2016coin.org, an online daily election coverage and home page for $PRES, $HILL, and $GARY coins. The company was formerly known as Grand Pacaraima Gold Corp and changed its name to First Bitcoin Capital Corp. in February 2014. First Bitcoin Capital Corp. is based in Vancouver, Canada. 


        Company Analysis and Financial Data Status

        All financial data provided by Standard & Poor's Capital IQ.
        DataLast Updated (UTC time)
        Company Analysis2020/01/17 01:48
        End of Day Share Price2020/01/16 00:00
        Earnings2019/09/30
        Annual Earnings2018/12/31


        Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.