Bayside Corp (OTCMKTS:BYSD) is a company that has been a lot in the news for all the right reasons. The company ended last month, with amazing news, the launch of “Vault 51” in Hong Kong. This is a secure offline bitcoin storage service, but Bitcoinz USA would also be selling to consumers through the Vault 51 website. Hong Kong has just been the latest in a series of international expansion venues for the company, which has already got a strong footing in the EU. Gaining a position in Asia would prove to be highly profitable for the company, mainly because China maintains more than 50% of the world bitcoin market.
The company does have further plans for expansion into mainland China, which should make it one of the leaders in the bitcoin sector. The good thing for the company is that China, even after taking a lead role in bitcoin sector, does not have a safe storage system. In February 2015, China reported a security breach involving $1.75 million worth of bitcoin. Vault 51, on the other hand, boosts a premier defense system and should be easily able to break in the market.
Bitcoin success was not the only story making the headlines for Bayside Corp (OTCMKTS:BYSD), today the company held the ground breaking ceremony for its Bayside Pet Resort & SPA. This would be the company’s second full service five star resort for pets and the third location. The event came on the same day as the announcement of the company’s first financial quarter for the year, adding immensely to the excitement.
The company reported around $184,000 in revenue and about $73,000 in profits. The CEO of the company expressed his determination to improve these figures. He hinted at the international expansion of Vault 51 to be the key in this regard. The news about the company making all the right moves at the right time have made its stock worth a lot more than its previous amount. Currently, it stands at $0.0012 a share, 20% better than the last closing.