BitRush Corp. (CSE:BRH, Frankfurt:0XSN) has disclosed the approval of stock option grants to selected consultants, representing a significant move in the company’s ongoing efforts to maintain activity.
Background of BitRush Corp.
Established in 2015, BitRush was among the pioneering publicly listed cryptocurrency companies on the Canadian Securities Exchange (CSE). The company was founded by Werner Boehm and Alfred Dobias, alongside Slovakian entrepreneur Igor Wollner and his associate Hans-Joerg Wagner. Werner Boehm served as the CEO during its inception.
Money Laundering Controversy
In 2016, internal disputes arose when Wollner and Wagner proposed a partnership with Uwe Lenhoff, a figure later identified as a cybercrime mastermind. Boehm and Dobias opposed this collaboration based on due diligence findings that linked Lenhoff to extensive cybercrime and money laundering activities. Despite their objections, Wollner and Wagner pursued the alliance, leading to significant internal conflicts.
As a result of these disagreements, Boehm refused to sign necessary CSE filings, causing the suspension of BitRush’s stock trading. Subsequently, legal actions in Canada led to Boehm and Dobias losing their shares in the company amid allegations of witness tampering and false statements.
Uwe Lenhoff had been under investigation since 2017 and was arrested in early 2019. He died in custody in 2020. Trials against members of his cybercrime network are ongoing in Germany and Austria, focusing on charges of investment fraud and money laundering.
Current Status of BitRush Corp.
BitRush remains suspended from trading and functions as a dormant entity. Wollner and Wagner, with the assistance of Canadian director Karsten Arend, aim to sell this publicly listed shell company. Several capital infusions have been made to cover the ongoing costs associated with maintaining a listed company.
Latest Stock Option Allocation
On June 8, 2022, BitRush issued a total of 250,000 incentive stock options to five external consultants, in alignment with its 2021 Omnibus Equity Incentive Compensation Plan. Each option grants the right to acquire common shares at a fixed price of $0.05 per share, valid through June 8, 2026. Of the total, 187,500 options are set to vest in four equal installments over the span of one year, while the remaining portion became fully vested at the time of issuance.
|
Details |
Information |
|
Total Stock Options Granted |
250,000 |
|
Number of Consultants |
5 |
|
Exercise Price per Share |
$0.05 |
|
Expiration Date |
June 8, 2026 |
|
Vesting Schedule |
187,500 options vest quarterly over 1 year; remaining options vested immediately |
Currently, trading of the company’s common shares—including those linked to the newly granted options—remains halted under Canadian Securities Exchange (CSE) regulations. This suspension will stay in place until BitRush fulfills the CSE’s specific relisting criteria. As of now, the company lacks a clear business direction but continues to evaluate potential paths for establishing a viable commercial strategy.
Share Information
If you possess any information regarding BitRush, its shareholders, or partners, please contact us through our system.