Athena Bitcoin, Inc. signed a Memorandum of Understanding to acquire First Bitcoin Capital Corp. (OTCPK:BITC.F) in a reverse merger transaction on October 21, 2019. The Memorandum of Understanding anticipates the Agreement having two parts. The first is the exchange of newly issued stock of First Bitcoin issued in exchange for the stock of Athena. The second part would include an Earn Out where more shares of First Bitcoin would be issued and held in escrow until certain net revenue targets are met. The allocation of the shares of First Bitcoin to Athena's shareholders will, if completed, give rise to a change of control event for First Bitcoin under the terms of deal. The transaction is subject to completion of a comprehensive due diligence.

Athena Bitcoin, Inc. cancelled to acquire First Bitcoin Capital Corp. (OTCPK:BITC.F) in a reverse merger transaction on October 21, 2020.