The parent company will invest in half of the excessive cash in “very unstable” cryptocurrency, and will make a way to pay for agent and customer bitcoin at a later date.
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Futom Holdings, a securities company of the Flat Charge Committee and a real estate service platform, is jumping on the trend of bitcoin, and at a later date to make the way to pay bitcoin for agents and customers. He states that it will invest half of the excessive cash of cryptocurrencies.
Fathom stated that it will buy up to $ 500,000 or bitcoin replacement fund (ETF) in the next two weeks.
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“The integration of Bitcoin’s commercial strategies and financial strategies is accelerated in the entire financial market, and is positioned as both a hedge for inflation and the protection of the economic and currency risks of the world economy, and is the chief of the statement of the statement. “We believe that our Bitcoin strategy is diversified by the Ministry of Finance, and is presumed to be at the forefront of the digital currency transaction in the real estate industry.”
In a business update on January 23, Fathom acknowledged the risk of investing in Bitcoin, and plans to raise up to $ 10 million through shelves registration statements that can sell ordinary shares as needed.
Bitcoin is a “very unstable asset”, “do not pay interest or dividend”, and the company’s bitcoin strategy has not been tested, and Fatom warns investors.
“Bitcoin has a limited supply, so we believe that it may function as a hedge for inflation in the long term, but the short -term price of bitcoin has decreased during the recent period when inflation rises. “Fazome executives said. Submit regulations. “Some investors and other market participants may oppose Bitcoin’s acquisition strategy or the actions to be started to implement it.”
If the price of bitcoin declines or Fathom’s bitcoin strategy is “if it is proven that it failed, the market price of our financial status, business performance, and our ordinary stock market price is serious. It is affected.
The shelf registration statement may reduce the value of the stocks of existing investors. Fathom’s stock price, which reached a maximum of $ 3.37 for 52 weeks on September 17, 2024, reached a minimum of $ 1.23 in history after registration of shelves and bitcoin on January 23.
As of September 30, Fathom was issued 22.62 million shares, with a market capitalization of $ 28.3 million on Thursday, with a closing price of $ 1.25.
After raising $ 31.3 million in the early 2020 open call for $ 31.3 million, Fathom Holding, based in North Carolina, acquired to expand the scope of its business. Fathom produces more than 90 % of revenue through Fathom Realty, a real estate intermediary business, but is also a mortgage loan, title insurance, and technology provider.
FATHOM issued a $ 5 million convertible notebook in September to accelerate the growth plan, and in November, 2,200 agents and the third largest real estate broker in Arizona, my home group Fathom Realty. We announced the acquisition.
The integration of my home group to the Fazome Platform is as planned, stating that it will be more than $ 110 million this year.
Prior to the 4th quarter of the 2024 revenue report, Fathom also provided some major business metrics.
Fathom Realty’s agent count increased 23 % in 2024, increased to about 14,500 as of December 31, and the fourth quarter trading increased 16.5 % from the quarter of the year ago.
It is expected that the fourth quarter of the 2024 will be 7 % to 10 % higher than the third quarter, but the Fathom project will have a net loss of $ 8.4 million a year ago to $ 7.3 million.
On Thursday, Fathom provides advanced local marketing tools through a partnership with Locafy, a company based in Australia, which specializes in the “entity -based” search engine optimization (SEO), enhancing agent visibility. I want to do it.
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