Update: March 2020

By: BitCar (published on: )

Hello Everybody,

Over the last half year the company has simplified its administration, dealt with its extensive corporate, tax and administrative matters and aggressively cut costs wherever possible whilst looking how to proceed since the closure of the Bitcar Platform. The stakeholders have now discussed company matters again and also the transaction the Company has recently been attempting to make, as was reported here.

Transaction is the combination of two complementary businesses, but confidentiality clauses prevent further disclosure, which is of course frustrating. The company has not been able to agree a satisfactory outcome for that transaction (due to their valuation not being agreed) at this time, but the parties have developed a good repoire, continue dialogue, are complimentary and so the company may still reach a deal in say the next quarter.

Financial chaos and "lockdown" have made it very difficult for Company to operate and so it will furlough activities until likely end of June, again as it seeks to preserve funds. Further updates will follow when there is news.

We thank token holders again for their support and patience. BitCar Team