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My concern would be that Chinese companies regularly reverse engineer technology over longer term and ultimately steal for their own. A generalization, for sure...but I hope LWLG works with them at arm's length and cautiously.
Not sure how I feel about LWLG partnering closely with a company based in Wuhan, China.
Not sure the patent angle is one that GBOX can really play. Ben had commented that the pace of technology, and actually GBOX's own technology, had outpaced the value/relevancy of their patents. Would be interesting to really see how much patent value there is now...again, Ben has downplayed it. I am guessing it is mainly mentioned because it plays well in presentations.
Good move on GBOX part. I am also guessing the company is finding this is table stakes for playing with the big boys as they work to close business with regionals, etc.
Amen. Great post. EOM
Don't care about anyone's feelings here. Just like to understand peoples' agendas...and take their input with that knowledge accordingly.
We don't need a blow by blow on stock price. You don't think anyone here already knows?
CFO and Head of Risk now on board...great news!
SAN DIEGO, CA, April 20, 2021 (GLOBE NEWSWIRE) -- GreenBox POS (NASDAQ: GBOX ("GreenBox", the "Company"), an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions, today announced the Company has appointed Ben Chung as its new Chief Financial Officer and Bryan Rowland as Head of Risk Management.
Mr. Chung brings more than 22 years of experience in the public accounting arena, as well as invaluable financial industry exposure. He has extensive experience in auditing for both private and public companies, SEC reporting and due diligence transactions including post-merger integration.
Prior to founding Benjamin & Ko, a PCAOB registered CPA & Consulting firm, Mr. Chung served as an Audit Partner for BDO Korea and previously represented BDO USA. Mr. Chung completed a two-year international rotation spanning several APAC countries, overseeing quality control for US GAAP, other foreign reporting filers, and the capital markets practice. While at BDO, Mr. Chung managed quarterly technical accounting and auditing webinars, and provided guidance to clients and other partners in the firm. Mr. Chung also served as Audit Manager for medium to large public companies in the consumer industries practice at both Ernst & Young and PricewaterhouseCoopers.
Mr. Chung is intimately familiar with GreenBox having previously worked with the company on a contract basis. He played a vital role in the preparation of GreenBox public filings for its uplist to the NASDAQ, multiple financing rounds, and becoming OTC compliant.
Mr. Rowland comes from an extensive background of 18 years in fraud protection, risk management and compliance leadership across a host of industries including e-commerce, payfac and financial services. Over the course of his career, Mr. Rowland has worked at firms such as Disney, Visa, Genentech, and GoPro in a variety of positions related to fraud protection, payment processing risk management and compliance strategies which make him a natural fit for his role at GreenBox.
“We welcome Ben and Bryan to the GreenBox family and are privileged to have talent of this caliber join the team,” said Fredi Nisan, Chief Executive Officer of GreenBox POS. “Ben’s counsel will be invaluable as we continue to establish GreenBox as a leader in the financial technology space. He brings an excellent background and expertise in understanding GreenBox POS accounting and auditing to help us meet the stringent public company requirements of the Nasdaq from our recent uplisting. Bryan will be a significant asset to our risk management and compliance processes ensuring that GreenBox technology continues to provide best-in-class security for our merchant customers and partners.”
"GreenBox POS has made significant progress achieving record client onboardings and processing volume,” said Chung. “The Company’s blockchain based payment solutions are well positioned to disrupt the financial payments space and having strong financial controls, reporting and accountability processes will be crucial to supporting its growth. I look forward to joining this talented team and contributing to the strong momentum of the company and technology.”
About GreenBox POS
GreenBox POS (NASDAQ: GBOX) is an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions. The Company's applications enable an end-to-end suite of turnkey financial products, reducing fraud and improving the efficiency of handling large-scale commercial processing volumes for its merchant clients globally. For more information, please visit the Company's website at www.greenboxpos.com.
Forward-Looking Statements Disclaimer
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set out in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.
Investor Relations Contact
Mark Schwalenberg
MZ Group - MZ North America
312-261-6430
GBOX@mzgroup.us
www.mzgroup.us
And as of 6:30PM not down in the aftermarket. Please take your manipulative spin elsewhere...
Those who don't sell will be handsomely rewarded in the end...
IMO, there are probably not that many "weak hands". It's more of a lack of buyers allowing shorts/manipulators to do their thing. Guessing alot of the volume is manipulators trading amongst themselves...
Good point as well. Probably my bigger concern is apparent lack of interest in significant buying when it was largely below 10 all day Friday. Where are the buyers after the dust settled that this was largely based on a single, largely debunked hit piece written by a 22 year old? Even without PRs and news, you'd think there would be more buying among those that are already working with GBOX and/or know their story. As you say, maybe company needs to do more. (or maybe we just have to be patient for another week or two for news that will be in the hopper).
1hot tody,
I share some of your frustration. I have also reached out on several occasions to Ben as well as Mark at IR firm. Similar responses. In fairness to them, when you have to refute hit pieces, it becomes sort of a slippery slope...sort of like answering the proverbial question, "when did you stop beating your wife"? Just by answering the question you lend credence to the premise of the question itself. On the other hand, I certainly hope that Ben and MZ Group are paying close attention...you need to have clear/firm strategies for dealing with such attacks. IMO, their PRs and execution from an IR perspective have been a bit sloppy. And some of the crap I see on Stocktwits (some of the people on there are certainly "twits" alright!), raise basic blocking and tackling questions. I recall my bringing up concern about Vanessa Luna being hired as COO...I had similar questions about her background/lacking professionalism when she was at MTRAC. I understand that she may be bringing value to GBOX, but as brought up by the short crowd on twits, her picture on LinkedIn is something short of professional for an executive. These points may appear to be petty, but if you are going to play in the big leagues you need to have T's crossed and I's dotted.
I am guessing (and heavily trusting) that Ben's response is emboldened by knowledge that this company IS going to be wildly successful with great news to come. That still does not make it acceptable to have our paper investment cut in half by chumps. Some of us have little dry powder left awaiting the follow through execution (PRs of new customers, business, a powerhouse company without a CFO?) that you mention.
Also, guess that's why NASDAQ fully vetted GBOX and put them on their exchange. Not to mention Signature Bank...an ~ $75Billion institution. Who are you, Jack and what do you have that has not already been presented long ago in GBOX financials to SEC?
Oh sure...had already seen pictures of the building previously. Yes, it is not a fancy building...so what. If you know processing companies you also know that they don't necessarily conspicuously promote/glamorize their facilities.
you're reaching jack...or is that reaking.
Would LOVE to see some surprise middle of day positive PR that burns the shorts with forced covering. A slow melt up merely plays into their hands.
Looks like the good guys may be returning some fire! eom
Double amen! eom
What's a bit discouraging to me is the relative lack of bounce back...if indeed, this is primarily related to one punk's hit piece...sheesh.
What I hope GBOX learns from this is the importance of continuing to follow-through with demonstration of proof points (revenue, meeting projections) and getting a CFO on board...perhaps even upping their auditing credentials. Gonna happen with companies that are growing fast and getting this much attention via price appreciation. We need partners (aka companies that GBOX is working with) to have knowledgeable people/contacts who are also willing to understand company's value and BUY stock when these hit pieces inevitably arise.
So...not going to sign up for this BS site. Read first few lines and looks/smells like bear excrement...
Definitely hanging in...have not sold a share...can't say it hasn't been VERY PAINFUL though. Think we need SOLID follow-through on actual business. Without that, future appreciation is going to face headwinds of big time battle fatigue syndrome flashbacks.
Agree that!...I provided similar input to IR. Do you have "hit" piece link?
Wait until they announce the token raise. $$$$. And also, let's get a few white label regional banks on board. Buying still!
I think he said that revolver seed commitment was already over 100M but could go significantly higher based on greater interest. Why announce if $s still coming in...let it build...(within reason).
yes, thought they might announce raise on GBOX token today...but guess not. When that news comes out it will be big IMO. Ben already said raise was going to be over 100M and interest in joining still building. Guessing when we get that news it will be big.
PR on ChargeSavvy finalization...interesting, wonder if current run-rate was overestimated...regardless, less dilution which is good.
https://www.globenewswire.com/news-release/2021/04/08/2206723/0/en/GreenBox-POS-Announces-Reaching-Final-Terms-of-ChargeSavvy-Acquisition.html
Don't believe they ever said 600M processing as Q1 guidance...it was always annual. So they updated from 600M annual to 1.2B annual....but of course also referenced potential for further changes upward. I think closest we heard to processing volume guidance for Q1 was some reference by Ben to Q1 approaching 3x previous quarter...which would imply something approaching 350M-400M IIRC...
Ringing NASDAQ Opening Bell on April 9!...PR out.
Don't generally agree with you...but got a chuckle out of me on that response.
Continued thanks for your insightful posts! Agree with you. EOM
Great. Thanks for posting. EOM
I'm mixed...I like hearing his enthusiasm and his directness...but when you are talking dates and projections, you need to ensure that you are precise...or smart enough to not create false expectations in the near term. Saying "this week" and having it not happen is not a good look. Why make unforced errors like that?! If they want to grow to the leadership level he aspires to, some of this needs to be cleaned up IMO.
IMO, Ben could use some coaching on speaking more clearly. For instance, "THIS week" generally means within the current work week. If he meant in the next 7 days...he could have said "over the next week". Not overplaying the hand here and not worried...just some constructive criticism.
He's pretty much told us what Q4 was...so the earnings may still be somewhat modest. The big thing from a financial perspective will be commentary in report on volumes for Q1 which he already commented were 3 times Q4 volumes. And further, no inclusion of ChargeSavvy numbers we he said closure would be finalized very soon. Throw in whatever else he foreshadowed as additional filings.
I would add that IBM is somewhat desperate to re-establish some leadership in the Cloud/Datacenter space. IBM is the company that basically bungled the Cloud movement. Something that would leapfrog others should be of great interest.
I think there are many (or at least fair number of shares) bought in the pennies. But some of us are greedy...not sure why folks sell much now when VERY good things already stated to come in near term. I guess there is ALWAYS risk.
Looks like some (one?) trying to manipulate stock down on relatively low volume...likely just trying to take advantage of market downdraft. Now is good time to pick up more with good news to come in very short term as telegraphed on yesterday's call. I'm STILL buying. Anyone else?
...also said other filings as well that would further reveal their plans that he considered to be "exciting"...