Chairman of Everything Blockchain (EBZT) buys $2.4 million in equity shares

Get on Wall Street with StreetInsider Premium. Claim a 1-week free trial here.

Alt Blockchain Inc., (OTCMKTS: EBZT), a technology company that blends blockchain, DBMS and Zero Trust to deliver disruptive new ways to store, manage and protect data, today announced that Epic Industry Corp, a company wholly owned by Michael Hawkins, the company’s chairman of the board, purchased an additional 500,000 shares of the company’s common stock in a private transaction from a private investor. The shares were bought at an average price of USD 4.72 per share, a total purchase price of approx. 2.4 million dollars. After the transaction, Mr. Hawkins owns 982,500 shares.

“The acquisition of these common shares is a reflection of my confidence in the long-term value of EBI,” said Michael Hawkins, Chairman, EBI. “Elevating database management systems by embedding private, seamless blockchain technology will disrupt and surpass the status quo and will become the standard bearer for how to protect businesses and individuals in today’s work environment. I believe EBI’s management team are the pioneers, and that EBI’s products have unlimited growth and prospects.”

EBI’s innovative solutions fundamentally advance how the world’s best companies leverage databases to drive revenue – progress that is sorely needed. In 2017, Gartner estimated that enterprises spent $38.6 billion on database management systems, but by 2022, Gartner analyst Merv Adrian predicts that this figure will be only $80 billion, indicating “unprecedented” growth1. In addition, managed cloud services (dbPaaS) revenues increased to $39.2 billion in 2021 – now representing over 49% of all DMBS revenues2.

The company’s next-generation database, BuildDB, delivers superior performance, reduced latency, zero trust, and unmatched resilience—backed by a private blockchain architecture. BuildDB provides enterprises with a new and disruptive way to store, manage and protect data, even as customers deploy applications that produce and consume ever-larger datasets. BuildDB is offered as a SaaS application managed in a continuous delivery model and is available for distribution from the AWS Marketplace.

In addition, the company’s EB Control application, a zero-trust data protection solution that allows the data owner to maintain full control over their data throughout its lifetime, is making waves in the market. EBI has recently established a partnership with Al-Rushaid Technologies to break into the Middle East and North Africa market and Center for Internet Security, Inc. (CIS®) to bring EB Control to US State, Local, Tribal and Territorial (SLTT) government organizations, nonprofits, and public health and educational institutions.

For more information on EBI, visit https://ir.everythingblockchain.io/.