Agritek Holdings Inc. (AGTK)

[neophyte184]

Many have questioned in the recent past why their prior 10-Q showed such paltry revs, and I finally received an answer from Friedman on this. Here it is verbatim:

"Yes, it is truewe have press releases and many more coming announcing millions in new processing volume in the MMJ and high risk sector. And when the filing come out, the revenues prior to the next quarters seem minimal. Here is the reason. We were coming in on the processing side with very thin margins, and paying our agents 70/30 and 80/20 splits just to bring in the business to us and grow our network. So the way it works, at 10M a month in new processing volume, when you have a 50/50 with the banks, at 1% profit marging, and then keeping only 20%, the revenues are tight. But the good news is, as we grow are book to 100M a month in processing volume, which we will reach, are profit margins go hire, the revenues are higher, and despite what the agents get, we own the portfolio and there will be banks interested in a 1 Billion dollar a year merchant portfolio of high risk, high margin business that can come in with a higher profit margin being the bank, than we can being an ISO or agent."

This is right from the horse's mouth!