FHLD Stock: 8 Things to Know About Freedom Holdings and Its Massive Crypto Blockchain Buy

Today, shares of Freedom Holdings (OTCMKTS:FHLD) are jumping after the company announced this morning that it had completed its acquisition of Carbon Zero Asset Management. Indeed, in late-morning trading, FHLD stock was soaring 13% to $1.38 amid much higher than normal trading volume.

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Freedom Holdings buys financial services and technology companies and specializes in clean energy. Carbon Zero utilizes blockchain technology to offer “an Ethereum-based programmable carbon ecosystem,” according to Freedom Holdings.

Here’s what else investors should know about Freedom Holdings and the acquisition that it completed today.

What to Know About the Latest FHLD Stock Acquisition

  • Freedom Holdings is paying for the deal with 311,672,730 new shares of FHLD stock.
  • Carbon Zero was a privately owned company prior to the acquisition.
  • Carbon Zero seeks “to bring carbon credits more fidelity, transparency, accessibility, liquidity, and standardization.”
  • Additionally, Carbon Zero is seeking to develop “a programmable carbon ecosystem.”
  • In the wake of the acquisition, Freedom Holdings indicated that it plans to soon change its name.
  • According to a Dec. 28 U.S. Securities and Exchange Commission (SEC) filing that details the provisions of a “Binding Letter of Intent” between the companies, Carbon Zero will name three members of Freedom’s board of directors. Furthermore, the two firms “shall mutually appoint 1 independent member to the Board of Directors.”
  • Additionally, the SEC filing specifies that Carbon Zero “shall supply audited financial statements for periods ending December 31, 2019, 2020 and 2021.”
  • Incorporated in 2005, Freedom Holdings was involved in mortgages until the financial crisis. After that, it “acquired small oil and gas leases in SE Kansas.” In 2012, it began trying ” to develop technology to recycle asphalt shingles.” However, the latter initiative failed.

Other entities are seeking to use blockchain to facilitate carbon trading as well. For example, the University of Cambridge is “developing a blockchain-based market for trading carbon credits.” IBM (NYSE:IBM) used its blockchain technology to create a system that enables high emitters of carbon to purchase credits from “low emitters.”

IBM has partnered with China’s Energy-Blockchain Labs and startup Veridium Labs on the project. A company in the fashion sector, Covalent, is using IBM’s blockchain to enable “its customers … [to] track the supply chain and carbon footprint of its products.”

On the date of publication, Larry Ramer did not have (either directly or indirectly) any positions in the securities mentioned in this article.


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