C2 Blockchain Amends Prior Filing, Reducing Insider Share Issuance by 5 Million Shares
Summary
C2 Blockchain, Inc. filed an amendment to its January 23, 2026 8-K, correcting the number of restricted shares issued to Mendel Holdings, an entity controlled by its sole officer and director, from 50 million to 45 million shares.
Key Events · Financing and Capital Events · CBLO
-
Correction of Share Issuance
The company amended its prior disclosure, correcting the number of restricted shares issued to Mendel Holdings, an entity controlled by its sole officer and director, from 50,000,000 to 45,000,000 shares.
-
Reduced Dilution
The correction results in 5,000,000 fewer shares being issued, which represents a reduction in dilution compared to the previously reported transaction.
-
Re-establishment of Voting Control
As a result of the corrected 45,000,000 share issuance, Mendel Holdings and Levi Jacobson now beneficially own approximately 53.8% of the company's outstanding common stock, re-establishing voting control.
Analysis · CBLO · Crypto Assets
This 8-K/A filing amends a previous 8-K from January 23, 2026, which reported the issuance of 50 million restricted shares to Mendel Holdings, an entity controlled by the company's sole officer and director, Levi Jacobson. The amendment corrects this to 45 million shares, reducing the dilution by 5 million shares. While the underlying event of significant share issuance to an insider for services rendered remains, the reduction in shares is a positive adjustment for existing shareholders. The filing also clarifies that this corrected issuance re-establishes Mendel Holdings' and Levi Jacobson's voting control, now at approximately 53.8% of outstanding common stock.
At the time of this filing, CBLO was trading at $0.19 on OTC in the Crypto Assets sector, with a market capitalization of approximately $77.8M. The 52-week trading range was $0.01 to $0.30. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.