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When confronted with the claim that financial institutions are afraid to use blockchain platform as they do not understand how it works, Aranda responded by saying that there is no need to understand cryptocurrencies in order to use it. He further argued that companies do not build a website after knowing how the internet works.

After the discovery of these two violations, the UKGC then discovered similar violations in other sites owned by ElectraWorks Limited in April 2017. This included

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“The new equity is expected to provide sufficient funding capacity and headroom to fund major growth projects and maintain (BBB) credit rating,” reads a statement from the company. At the moment, SkyCity is offering shareholders the chance to buy one share for every 10 that they currently hold at $4.40, and trading is expected to resume next week.

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Following the announcement, share prices for the firm dipped about 9.5 percent, dropping to just .76 per share. Since that time, the stock has recovered to about .80 per share. The company is down about 33% from a high of $1.27 that it had on May 29, 2018. The stock dipped below $1 in November and has been hovering in the .80 range ever since.

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