We are pleased to announce the redemption of 4.60% of outstanding BFX tokens. This redemption was applied pro rata to all wallet balances and margin positions, both long and short, on February 3, 2017, at 21:00:00 UTC. The amount of the redemption is based on January's operating results, which were unusally strong, ranking as our second best month ever. We are deeply grateful to our loyal customers and shareholders for helping us achieve this result.
After this redemption and January's equity conversions, there are now 28,784,623 BFX tokens outstanding.
We continue to press forward on all fronts to expeditiously retire BFX tokens through a variety of initiatives including equity conversion with qualified token holders, raising new capital through equity financing, reinvesting operating profits, and prudent reductions in contingent liability reserves. We look forward to sharing further developments with you in due course.