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MJWL Taps Into Fastest-Growing Industry to Become Next Big OTC Play

MJWL Taps Into Fastest-Growing Industry to Become Next Big OTC Play
Published on
June 12, 2021
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Despite the recent correction, the cryptocurrency market has been the fastest-growing industry this year as well as since the launch of Bitcoin. In fact, during the last decade, the crypto industry has outperformed all other assets every single year.https://twitter.com/charliebilello/status/1370722188739891202As of June, the aggregate market cap of digital currency exceeds $1.5 trillion, and that figure was above $2 trillion prior to the recent correction. For comparison, the US real estate sector is worth $1.7 trillion by market cap, and the entire biotechnology industry is worth $1.6 trillion in terms of market cap as tracked by the S&P 500 sub-indices.So…is this the upper limit of the crypto industry? Can it get higher? Definitely yes – despite the significant media coverage and social media activity, cryptocurrencies haven’t reached true global adoption yet, and there is still more room for growth. A recent study from Gemini found out that about 21.2 million US adults owned cryptocurrency. While this figure might be higher than you could expect, the adoption rate in many other large countries is still very low.As digital currencies gradually reach all continents and demographic groups, the industry will keep growing at an exponential rate. Interestingly, Bloomberg, which used to bash Bitcoin on every occasion, concluded in June that the largest cryptocurrency by market cap has more chances to end 2021 at $100,000 than to drop to $20,000.But why all this introduction for Majic Wheels, Corp. (MJWL)?Well, it’s important to stress that the cryptocurrency market will continue to grow, and companies that push the adoption of digital currencies are and will be big winners. MJWL is one of the OTC stocks that is worthy of consideration as it taps into the fast-growing crypto industry.We have previously shared our bullish sentiment about some huge crypto runners that we have positioned our subscribers in early. Some examples are BIGG Digital Assets (OTCMKTS: BBKCF), which we discussed in March, as well as Marathon Patent Group (NASDAQ: MARA) and Riot Blockchain (NASDAQ: RIOT), which we eyed last August when both were under $4 as you can read here and here.All in all, our subscribers have captured some huge gains thanks to crypto runners, and MJWL is our next important candidate to go a dime, quarter, and finally dollar(s).As we tell our subscribers, the key to trading penny stocks is finding momentum BEFORE it happens and then be patient. Now, when we say that we find momentum BEFORE it happens, we are investors looking to position our subscribers BEFORE the move happens.We always alert our subscribers first before we publish for our regular readers. This is the value of having a subscription to Insider Financial, which you can sign up for here. We alert our subscribers with our best ideas before our regular readers.That being said, let’s delve into MJWL and see what it can do.[embed]https://www.youtube.com/watch?v=80RCJHIEIHg[/embed]

MJWL Restructures to Change Business Direction

Majic Wheels, which was initially based in Fort Myers, Florida, has been around since 2007. The company used to operate in the waste management sector. At one point, it planned to engage in environmentally safe junk removal, trash hauling, recycling, commercial and residential construction cleanup, and demolition business activities. However, nothing substantial happened during this period, and the company underwent massive restructuring earlier this year.In April 2021, MJWL said that it had new management that intended to file with the OTC Markets to become OTC Pink Current. Meanwhile, former CEO and sole director Denise S. Houghtaling resigned from her duties to be replaced by a fresh management team with big goals for 2021 and beyond. Once we knew that MJWL became more active and was willing to remove the STOP sign and become Pink Current, we anticipated a reverse merger that could potentially send the share price higher.For those unfamiliar, the STOP sign is attached to defunct companies that have stopped operations as well as 'dark' companies with suspicious management and market disclosure practices.MJWL applied for OTCIQ ACCESS to update its profile and upload the required financial and disclosure statements to achieve Pink Current Status.Last month, MJWL, now a Delaware-based company, announced that it had discontinued its waste management businesses and instead focused on fintech and software development through mergers and acquisitions (M&As).Most of the staff has been updated. The company maintained a Certified Public Accountant (CPA) for general accounting and specific ASC and FASB standards applicable to the Company's SEC/industry accounting needs. The CPA is knowledgeable of mergers and acquisitions, share structure, and optimizing the best usage of funds.Also, the company named David Chong as its new CEO and Director of the Board.

Who Is David Chong?

David Chong has over three decades of experience working with early-stage growth companies in emerging industries, as well as medium and large private and public companies. In other others, he has seen it all, which makes him an important asset for Majic Wheels.Moreover, his expertise is global, which is relevant for the borderless crypto space. David has worked in the US, China, Europe, Singapore, and other capital markets. His expertise includes international financial management, operations, auditing, funding, corporate governance, business development, internal control maintenance, and investor relations.He has qualifications in professional accountancy studies from ACCA (the Association of Chartered Certified Accountants). As for his working experience, Chong was the Financial Controller for Amtek Engineering Ltd. in China from 2007 to 2010; he was Strategic Advisor to Nasdaq China Recycling Energy Corporation; later in 2010, he became CREG's Investor Relationship Director prior to assuming the role of CFO from 2011 to 2015, and reverting to Strategic Advisor until May 2016.From May 2015 to March 2019, Chong served as the Managing Director (Asia) of Hover Energy LLC, and concurrently from March 2016 to December 2016, he acted as Treasurer and Interim President of Nutrastar International.Chong became board advisor to NexG Ptd Ltd. in November 2016 and was appointed as CFO NexG from January 2017 until April 2018, and CFO of Qourier from April 2018 to December 2019. Chong was Strategic Advisor to Viagoo Pte Ltd from January 2020 to June 2020 and was appointed to OTC Muliang Viagoo Technology, Inc as CFO from June 2020.As you can note, Chong often started as an advisor or board member and then was quickly upgraded to Chief Financial Officer, which proves his expertise.


After the shareholder updates about the restructuring, the big news finally came out on May 21 – MJWL executed a binding letter of intent to acquire cryptocurrency exchange and custody services platform CGCX Ltd., which generates $150 million in annual revenue.https://twitter.com/CGCXofficial/status/1395820484269199361Meanwhile, MJWL was provided access OTCIQ access.https://twitter.com/MajicCorp/status/1400093032880349185

What Is CGCX?

Calfin Global Crypto Exchange (CGCX), founded in 20217, provides highly sophisticated crypto services aimed at the larger blockchain community. It currently operates a crypto trading venue and custody services platform.It has a talented team with expertise in equity, futures, and corporate markets, which allows CGCX to become a big player in select markets like the United Arab Emirates (UAE), India, Malaysia, and Mauritius.CGCX has established three distinct business lines to meet the increasing demand for various crypto services:

  • CGCX Exchange
  • Custody Services
  • Cryptocurrency Mining

It also has a native crypto token with the same name, CGCX, with a $50 million market cap. The ERC-20 token acts as a utility coin that gives users a 50% discount on fees on the CGCS platform while paying with CGCX.Eventually, the tokens can be used as a medium of exchange in CGCX’s platform for merchant transactions and smart contract applications. They can also be used to vote in the Alt Token listing module to be launched soon.The platform is generating $150 million in revenue per year, which is about a ninth of Coinbase’s 2020 revenue at over $1.1 billion, which makes Coinbase the largest crypto exchange in the US. On a side note, CGCX doesn’t allow clients from the US and Canada, but it’s open to large markets, such as India.Besides this, CGCX’s technology powers South East Asia’s first insured Bitcoin fund known as BCMG Genesis Bitcoin Fund-I (BGBF-I), which launched officially in March of this year to address the growing global interest from institutional and corporate investors.

CGCX Enters Indian Crypto Market

In April, CGCX launched its first insured over-the-counter (OTC) crypto trading desk in India, providing a direct medium of exchange for traders. The company will enable Indian traders to directly buy and sell digital assets from a dedicated trading desk as individuals or as an institution.A fully insured OTC desk will make the buying and selling of crypto easier and reduce traders’ risk of loss. In March last year, the Supreme Court of India nullified the RBI’s (Reserve Bank of India) ban on cryptocurrencies, which allowed CGCX to venture into the second-most populous country in the world.Earlier this month, media reports said that India was loosening its touch stance on cryptocurrencies altogether and might classify Bitcoin as an accepted asset class.

Why Betting on MJWL?

There are several reasons why we’re so bullish about MJWL. This is a Cinderella story where a company dumps its waste management business to become a leading player in the fastest-growing industry worth trillions.Following the announcements about restructuring and acquisition plans, the share price of MJWL surged from $0.0117 on May 20 to $0.097 on June 10, showing a return of over 700%! MJWLThe OTC stock jumped over 5,000% year-to-date to its peak on June 10. However, there is still much room for growth because of the following reasons:

  • MJWL has a fresh team with great experience in M&As and a new goal and business orientation. Now it is transparent and open to investors and the community. It holds online presentations, Q&A sessions, and updated its website.
  • The company has an optimal share structure that favors retail investors.
  • Also, as of June 7, the financials were completed, and MJWL has to proceed with the filings.


  • The biggest reason, for now, is the plan to acquire CGCX. As the acquisition process is going on, we think the share price will continue to be intensely bullish. Also, CGCX has an existing crypto business with about $150 million in revenue, which is huge for an OTC stock. On top of that, remember that CGCX is only the first acquisition target of MJWL. The latter said that it would conduct at least several M&As as part of its business strategy, and this can turn into something huge.

We believe that MJWL has the potential to make investors happy sooner than any OTC at the moment.


Once MJWL stock clears a dime, it’s blue skies ahead to a quarter, followed by a dollar (s).We’re confident that MJWL stock is one of the best OTC bets right now.Where else can you pick up a stock that is worth dollars for under a dime?Majic Wheels can easily be the OTC stock of 2021, just like HMBL was in 2020.Congrats to all subscribers that got in under a penny. This bull run looks to be just getting started.As always, good luck to all (except the shorts)!


Disclosure: We have no position in any of the securities mentioned. We wrote this article ourselves and it expresses our own opinions. We are not receiving compensation for it. We have no business relationship with any company whose stock is mentioned in this article. Insider Financial is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This article is not a solicitation or recommendation to buy, sell, or hold securities. This article is meant for informational and educational purposes only and does not provide investment advice.

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