Long Blockchain Corp.

Long Blockchain Corp.
Formerly
 Long Island Iced Tea Corp.
Public
Traded as OTC Pink: LBCC
Industry Food, blockchain
Headquarters Hicksville, New York, United States
Key people
 Shamyl Malik (CEO)
Bill Hayde (Chairman)
Revenue Decrease $4,434,465[1] (2017)
Decrease ($15,215,659) (2017)
Total assets Decrease $3,235,121 (2017)
Number of employees
 Increase 25 (2017)
Website www.longblockchain.com

Long Blockchain Corp. (formerly Long Island Iced Tea Corp.; NASDAQ: LBCC) is an American corporation based in Farmingdale, Long Island, New York. Its wholly owned subsidiary Long Island Brand Beverages, LLC produces ready-to-drink iced tea and lemonade under the "Long Island" brand. The company's first product was made available in 2011.

In 2017 the corporation rebranded as Long Blockchain Corp. as part of a corporate shift towards "exploration of and investment in opportunities that leverage the benefits of blockchain technology" and reported they were exploring blockchain related acquisitions.[2]

On April 10, 2018, Long Blockchain received a letter stating that its stock would be delisted by the NASDAQ stock exchange. Its shares would subsequently be eligible for trades over the counter. The company had by that time abandoned its plans to purchase Bitcoin mining equipment.[3]

The SEC subpoenaed documents from the firm on July 10, 2018 in a move widely believed to be related to the name change. The firm stated that they were fully cooperating with the investigation.[4] [5]

References

  1. ↑ http://yahoo.brand.edgar-online.com/DisplayFiling.aspx?TabIndex=2&FilingID=12682977&companyid=954164
  2. ↑ "Long Island Iced Tea Corp. to Rebrand as 'Long Blockchain Corp.'". Nasdaq. GlobeNewswire. December 21, 2017. Retrieved 21 December 2017.
  3. ↑ Hankin, Aaron (April 11, 2018). "Nasdaq to delist Long Blockchain Corp, underlining fading bitcoin fervor". MarketWatch. MarketWatch, Inc. Retrieved April 11, 2018.
  4. ↑ McKay, Tom (1 August 2018). "'Long Blockchain' Maybe Not as Smart as It Thought". Gizmodo. Retrieved 2 August 2018.
  5. ↑ Katz, Lily (2 August 2018). "Long Blockchain Gets Hit With SEC Subpoena After Nasdaq Ouster". Retrieved 2 August 2018.


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