10-K/A
Olb Group, Inc. (OLB)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
(Amendment No. 1)
(Mark One)
| ☒ | **Annual report pursuant to section 13 or 15(**d) of the Securities Exchange Act of 1934 |
|---|---|
| For the Fiscal Year Ended December 31, 2024 | |
| ☐ | **Transition report pursuant to section 13 or 15(**d) of the Securities Exchange Act of 1934 |
| For the Transition Period from to |
Commission File Number: 000-52994
THE OLB GROUP INC.
(Exact Name of Registrant as Specified in its Charter)
| Delaware | 13-4188568 |
|---|
| (State or other jurisdiction of<br><br>incorporation or organization) | (I.R.S. Employer<br><br>Identification No.) |
1120 Avenue of the Americas, 4^th^ Floor, NewYork, NY 10036
(Address of Principal Executive Offices with Zip Code)
Registrant’s telephone number, including area code (212) 278-0900
Securities registered pursuant to Section 12(b) of the Act: None.
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|
| Common Stock, $0.0001 par value | OLB | The Nasdaq Capital Market |
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
|---|
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
| | | Emerging growth company | ☒ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
State the aggregate market value of the voting and non-voting common equity held by non-affiliates: $3,343,377 based on 1,114,459 non affiliate shares outstanding at $3.00 per share, which is the price at which the registrant’s common shares were last sold on the last business day of the registrant’s most recently completed second fiscal quarter.
As of April 7, 2025, there were 2,368,075 shares of the registrant’s common stock, par value $0.0001 per share, outstanding.
EXPLANATORY NOTE
This Amendment No. 1 on Form 10-K/A (“Amendment No. 1”) to the Annual Report on Form 10-K of The OLB Group, Inc. for the fiscal year ended December 31, 2024, originally filed with the Securities and Exchange Commission (“SEC”) on April 15, 2025 (the “Original Filing”), is being filed solely to file Exhibits 23.1 and 23.2, the consent of RBSM LLP and Mac Accounting Group & CPAs, LLP.
In addition, pursuant to the rules of the SEC, the exhibit list included herein reflects currently-dated certifications from the Company’s principal executive officer and principal accounting officer, which are filed as exhibits to this Amendment No. 1.
Except for the foregoing amended information, this Amendment No. 1 does not amend or update any other information contained in the Original Filing or reflect any events that have occurred after the filing date of the Original Filing. Accordingly, this Amendment No. 1 should be read in conjunction with the Original Filing.
PART IV
Item 15. Exhibits and Financial StatementSchedules and Reports on Form 10-K
(a) List of documents filed as part of this Amendment No. 1:
(1) Financial Statements
No financial statements are filed with this Amendment No. 1. These items were included as part of the Original Filing.
(2) Financial Statement Schedules
None.
(3) The following exhibits are either filed as part of this Annual Report on Form 10-K/A:
1
EXHIBIT INDEX
2
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this Annual Report on Form 10-K/A (Amendment No. 1) to be signed on its behalf by the undersigned.
| The OLB Group, Inc. | ||
|---|---|---|
| Date: April 29, 2025 | By: | /s/ Ronny Yakov |
| Ronny Yakov | ||
| Chief Executive Officer | ||
| Date: April 29, 2025 | By: | /s/ Rachel Boulds |
| Rachel Boulds | ||
| Chief Financial Officer |
3
Exhibit 23.1
| 7915 FM 1960 W<br><br> <br>Suite 220<br><br> <br>Houston, TX 77070<br><br><br><br>****<br><br><br>www.rbsmllp.com |
|---|
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTINGFIRM
We consent to the incorporation by reference in the Registration Statement on Form S-3 of OLB Group, Inc. (File No. 333-280347) or our report dated April 15, 2025, which includes an explanatory paragraph regarding the substantial doubt about the Company’s ability to continue as a going concern, with respect to our audit of the consolidated financial statements of OLB Group, Inc. as of December 31, 2024 and for the year then ended, included in this Annual Report on form 10-K for the year ended December 31, 2024.
/s/ RBSM LLP
RBSM LLP
Houston, Texas
April 29, 2025
PCAOB ID No. 587
New York, NY Washington DC Mumbai & Pune, India San Francisco, CA
Houston, TX Boca Raton, FL Las Vegas, NV Beijing, China Athens, Greece
Member: ANTEA International with affiliated offices worldwide
Exhibit 23.2
Consent of Independent Registered Public AccountingFirm
The OLB Group, Inc.
1120 Avenue of the Americas
Fourth Floor
New York, NY 10036
We hereby consent to the incorporation by reference in the Registration Statement on Form S-3 (No. 333-280347) of our report dated April 15, 2024, relating to the consolidated financial statements of The OLB Group, Inc. as of December 31, 2023 and for the year then ended, appearing in the entity’s Annual Report on Form 10-K for the year ended December 31, 2024.
We also consent to the reference to us under the caption “Experts” in the Prospectus.
/s/ Mac Accounting Group & CPAs, LLP
Midvale, Utah
April 29, 2025
Exhibit 31.1
CERTIFICATION PURSUANT TO RULE 13a-14 OR RULE
15d-14 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEYACT OF 2002
I, Ronny Yakov, certify that:
| 1. | I have reviewed this Amendment No. 1 to the Annual Report on Form 10-K of The OLB Group, Inc: |
|---|---|
| 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
| --- | --- |
| 3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
| --- | --- |
| 4. | The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
| --- | --- |
| (a) | Designed<br>such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure<br>that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those<br>entities, particularly during the period in which this report is being prepared; |
| --- | --- |
| (b) | Designed<br>such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision,<br>to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external<br>purposes in accordance with generally accepted accounting principles; |
| --- | --- |
| (c) | Evaluated<br>the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the<br>effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;<br>and |
| --- | --- |
| (d) | Disclosed<br>in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s<br>most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected,<br>or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and. |
| --- | --- |
| 5. | The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
| --- | --- |
| (a) | All<br>significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably<br>likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
| --- | --- |
| (b) | Any<br>fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal<br>control over financial reporting. |
| --- | --- |
| Date: April 29, 2025 | /s/ Ronny Yakov |
| --- | --- |
| Ronny Yakov | |
| Chief Executive Officer |
Exhibit 31.2
CERTIFICATION PURSUANT TO RULE 13a-14 OR RULE
15d-14 OF THE SECURITIES EXCHANGE ACT OF 1934,
AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEYACT OF 2002
I, Rachel Boulds, certify that:
| 1. | I have reviewed this Amendment No. 1 to the Annual Report on Form 10-K of The OLB Group, Inc.: |
|---|---|
| 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
| --- | --- |
| 3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
| --- | --- |
| 4. | The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
| --- | --- |
| (a) | Designed<br>such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure<br>that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those<br>entities, particularly during the period in which this report is being prepared; |
| --- | --- |
| (b) | Designed<br>such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision,<br>to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external<br>purposes in accordance with generally accepted accounting principles; |
| --- | --- |
| (c) | Evaluated<br>the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the<br>effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;<br>and |
| --- | --- |
| (d) | Disclosed<br>in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s<br>most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected,<br>or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and. |
| --- | --- |
| 5. | The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
| --- | --- |
| (a) | All<br>significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably<br>likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
| --- | --- |
| (b) | Any<br>fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal<br>control over financial reporting. |
| --- | --- |
| Date: April 29, 2025 | /s/ Rachel Boulds |
| --- | --- |
| Rachel Boulds | |
| Chief Financial Officer |
Exhibit 32.1
CERTIFICATION
Pursuant to Section 906 of the Sarbanes-OxleyAct of 2002
(18 U.S.C. 1350)
Pursuant to Section 906 of the Sarbanes-Oxley Act of (18 U.S.C. 1350), the undersigned officer of The OLB Group, Inc., a Delaware corporation (the “Company”), does hereby certify, to the best of such officer’s knowledge and belief, that:
(1) The amendment to the Annual Report on Form 10-K for the year ended December 31, 2024 (the “Form 10-K/A”) of the Company fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2) The information contained in the Form 10-K/A fairly presents, in all materials respects, the financial condition and results of operations of the Company.
| Date: April 29, 2025 | By: | /s/ Ronny Yakov |
|---|---|---|
| Ronny Yakov | ||
| Chief Executive Officer |
Exhibit 32.2
CERTIFICATION
Pursuant to Section 906 of the Sarbanes-OxleyAct of 2002
(18 U.S.C. 1350)
Pursuant to Section 906 of the Sarbanes-Oxley Act of (18 U.S.C. 1350), the undersigned officer of The OLB Group, Inc., a Delaware corporation (the “Company”), does hereby certify, to the best of such officer’s knowledge and belief, that:
(1) The amendment to the Annual Report on Form 10-K for the year ended December 31, 2024 (the “Form 10-K/A”) for the year ended December 31, 2024 (the “Form 10-K”) of the Company fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2) The information contained in the Form 10-K/A fairly presents, in all materials respects, the financial condition and results of operations of the Company.
| Date: April 29, 2025 | By: | /s/ Rachel Boulds |
|---|---|---|
| Rachel Boulds | ||
| Chief Financial Officer |