ED Q&A!
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Myecheck
46 minutes ago
Good Morning, I am available for a little while this morning to answer any questions, just post your question here and I'll try to answer the best I can, thanks. Ed
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Thank you for spending your valuable time w/ us today, we appreciate it. Can you comment on any of the following?
1. Things learned vital to mj-pay while in CO?
2. Addressing the share structure in the near future?
3. Update on new facility as eluded to in 1Q financials?
Thanks!
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Myecheck 1. MJ-Pay will be launched in stages, the version launching in July will resolve their biggest problem and can be very easily adopted by the industry.
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Myecheck 2. The auditor will have the final word on that I believe
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Myecheck 3. We have been waiting to for the lease, i think we got it yesterday so we hope to move in ASAP, we are very anxious to get into our offices now
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How is MYEC able to process transactions without a banking partner? Are you directly integrated with a FED Reserve bank? Also, will there be any legal fallout over the Signature Stock Transfer over issuance of shares?
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Myecheck We do pass files directly to the Fed, I do not expect any legal fallout, we do not want any
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Myecheck We also can send files to any bank without a contractual agreement with that bank
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Have any other states besides california express interest in myec technology? Has Nyc Gov Cuomo express interest in myec?
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Myecheck Yes, we are developing a government sales department, we are also working with the current major processors of transactions for government accounts
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Ed, thanks for doing a great job. My question is scottrade is still preventing the purchase of MYEC shares citing a liquidity charge or some something in that nature. Any push for a resolution on this?
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Myecheck I can reach out to them and see if there is anything that can be done
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Thoughts on IOS8 and developers being able to utilize the finger print reader?
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Myecheck Yes
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Good morning Ed, which areas of the business have you and the team most excited for the remainder of 2014. G-Pay, P to P apps, small biz, MJ-Pay...
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Myecheck P2P app is very exciting, it will be an industry first and have unmatched capabilities never before possible, and we will be continuing to add features and functionality - I think it will be the best payment product in the industry
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Any hints you can give us with deals or future partners?
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Myecheck No
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No question. Just want to say Great Job on the Comeback.
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Myecheck Thank you
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Have we signed any more contracts since the last pr listing contracts ? Any additional govt contracts lined up?
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Myecheck I can't disclose any of this info right now, other than we do not have any new gov't contracts, but we are very busy with the deals we have in place and expect good revenue from them
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Have there been any developments with G-Pay? Bid Sync?
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Myecheck We are developing a focussed department for government, the sales cycle is long so our primary focus right now is on launching the apps, the apps can grow revenue with limited marketing and sales costs
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Any word on when the shareholder meeting will be? And where? Chris Liberti and I will be planning our next vacation around it! I'm sure there are other east coasters who would like to be able to plan ahead as well!
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Myecheck We are still planning to have one around August, we will start to set things up very soon
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Gm & thanks...how are things going with the given timelines of rollouts?
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Myecheck The timelines we are presenting now appear to be solid, some of the components require partners so we have potential bottlenecks
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When will u be officially registered on dtcc site?
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Myecheck We are official with DTCC, I don't know how they display that info on their site.
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whatstatus on MJ-Pay
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Myecheck MJ-pay is on track for full launch July 1, the bottleneck was a major bank partner
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Do you potentially see MYEC in NASDAQ in the future as it was back in 2008?
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Myecheck Our goal is to qualify for NASDAQ ASAP
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Ed can u set up a conference call to brief a bit about the company and the future vision for it . It will set up more interest for new investors.
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Myecheck Good idea, I'd like to do conference calls, we will be doing much more publicly as we move forward
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Hi Ed. Great job over the past months. Two questions, 1. Have we signed any new partners over the past 4-6 weeks? 2. Can you estimate Q2 results in comparison to Q1?
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Myecheck I can only announce new partners in a press release, I will provide some advise on Q2 prior to release. I will say that we took in more in licensing fees in Q1 than forecast.
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Hey Ed, just saying Hi and can't wait to shake your hand in Vegas or wherever we decide the shareholder meeting will be ! Any closer to resolving the slander and manipulation from IHub groups ?
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Myecheck I am looking forward to meeting all of you
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Audited Financials still on track for Aug 15th? Or could we see those earlier?
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Myecheck They may be done sooner but you likely won't see them until the last minute of the due date
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How does Myecheck differ from now and what it was back in the day
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Myecheck Primarily our business model has changed from being and alternative internet payment services provider to a mobile payment system. I am also delegating more authority to others, we are also more diversified and independent.
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Are you still talking with apple on trying to get them to use are technology
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Myecheck Yes
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Could you elaborate on the sales team that Nate Wigle has put together and what their main focus has been?
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Myecheck We have some really great people on board, we have made some offers and will continue to bring great talent on board. Our sales focus is on resellers
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Hi Ed, I see Bill is the IR person now... will all future PR's be put out by Bill?
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Myecheck I suspect I will write the PRs and he will field questions
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What is the time frame for becoming Fully Reporting with the SEC?
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Myecheck We hope to have the audit complete next month, we have to file an application to be a reporting company and I haven't yet looked at how long that process takes.
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Forgive me if this has been answered. How were you able to buy on Scott Trade? It seems nobody has confirmed a single transaction thru them
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Myecheck Good question, I personal didn't buy but I will find out how it was bought, I suspect they called in
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Why is MYEC still not showing up on the daily DTC stock list?
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Myecheck I don't control that list
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Also Will MYEC see substantial revenue increase in Q2, Q3, Q4?
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Myecheck That's not the type of question I can answer right now in this format
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Ed, what are the greatest obstacles you currently face to the growth of MYEC and how do you plan to overcome these obstacles?
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Myecheck We're not seeing too many road blocks, the industry is so large that its hard to imagine having growth problems.
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Can you see any adjustments in the share structure going forward particularly in the near future ?
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Myecheck There will be some new stock issued for employees as it vests over time, so small amounts of restricted stock in order to motivate employees. There may need to be some restructuring prior to any NASDAQ listing, we will evaluate what need to be done at that time. As the largest shareholder, I obviously have the largest interest in maintaining shareholder value, so I will only act in a way that will enhance shareholder value.
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Hi ED love your vision and passion! Any idea on the VX gateway launch ?
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Myecheck VX Gateway is days away from launch, we have been testing successfully with their bank. There are forecasting large transaction volume
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Good morning, Can you calrify if we will be posted on the DTC website that we are DTC eligible? It seems many think that is the case but there are many opinions of that floating around
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Myecheck I don't low what DTCC does on their website, I also don't think it really matters, the stock can be cleared electronically, that's what matters
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Are there any plans to meet with national media on MJ Pay in Colorado? It seems like a big story considering all the attention the MJ industry has received regarding banking problems.
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Myecheck Yes, the media will be all over us once we launch mj-pay and we will be responsive
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Hello Mr. Starr. First time questioner here. Two qucik questions - How is the audit progressing and are we still on track for having audited financials by mid August? Second, any resolution on the discrepancy in share count with the transfer agent? TIA for your responses.
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Myecheck Hi Kevin, the audit is on track, and I currently don't know what will happen regarding the share count, we have some pans but its not appropriate to discuss it here
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When will scottrade be able to trade to make the stock fly
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Myecheck Thats a question for Scotttrade
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Ed. Any word on the timeline for uplisting ? Will we be able to go directly to OTCQX? Thanks for your valuable time Ed!
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Myecheck We need to qualify, I believe the only qualifications we are missing is the audited financials and .10 share price.
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Curious about marketing campaign plans
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Myecheck We have a lot of plans and more still forming, we don't reveal too much about this for competitive and strategic purposes
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Also did you get a hold of poker stars ? I heard there legal in California now
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Myecheck One of the nice things about some of our new products is they don't require traditional selling, they can be adopted simply by downloading and registering an app. We are building gaming apps, once businesses see our apps working, they can adopt it themselves simply by downloading and registering and be live in minutes
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Are there plans for a share buy back in 2014?
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Myecheck No current plans for that
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When can we start Beta Testing the P2P app?
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Myecheck We are, it's just not connected to live money yet
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Hey ed Starr's just wondering when could the new share structure be fixed since some have a concern over it. I don't of course as I believe in u and ur company but there's some who question it.
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Myecheck I am not sure what you mean fixing the new share structure?
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How will Check 21 Legislation with the Federal Reserve directly benefit MYEC?
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Myecheck That question is too big to answer in a sentence or two, sorry
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Myecheck I have to go now, thank you all!
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Let me know if i missed one.
I LOVE MYECHECK, DO YOU?
