Follow up with MTrac Investor Relations
So after sharing the details of my email communication and the response they provided, I followed up with them yesterday (8 days after) with this:
Thanks for the info! I'd like to follow up with a few more questions as it pertains to the reverse triangular merger. Prior to the merger announcement, Global Payout Inc stated numerous times that they were pursuing an audit to become a fully reporting company. Once this merger is completed, will there still be a need to conduct this audit? If so, will that be pursued more aggressively with a timeline in place to complete? Or once the merger is completed, will the resulting company be fully compliant and reporting on a quarterly basis there after? Also, I'd still like to know more about the patent inquiries I made. Have the principles of the company provided you with any info?
To my surprise for a company basically still in start up mode and limited personnel, I receive another response 22 hours later from the guy I've been talking to that I call him. I was able to coordinate a call approx. an hr after this in which he called me actually once he was done with a conference call I was told he was in when I tried calling. I spoke with him for about 15 minutes in which he seemed happy to speak to me and did not come off as impatient or wasting his time with me. I wish I could have prepared more questions as I probably could of spoke with him longer.
He was limited in the info he could provide me as he could only share what was already available in the public domain but did express to me that they are actively pursuing becoming fully reporting and mentioned the goal of getting off the pinks and getting listed on the QB. But no timelines were given here as he said they still are working on completing the merger and getting things cleaned up from the previous company/leadership that recently left the company. The patent info he still wasn't sure about and said he is still going to follow up with me on that.
I did also ask for some details on the relationship they have with GreenBox but again, he had to refrain from disclosing specifics of the agreement as it pertains to any revenue generated by the blockchain technology and devices they provide in this partnership and what they might get from that. I guess we're gonna have to wait and see if/when they start filing 8k's and 10q's to see any details, but he expressed that their relationship is strong and emphasized MTrac's Sales/Marketing exclusivity deal they have with them in CAN/US/MEX but this is info already released to the public.
All in all, I left the phone call with increased confidence in their ability to execute which I definitely didn't have with the previous leadership. But I'm still going to hold off on increasing my position any further until more concrete news is released. The stock is still trending down and I'm going to wait to average down until maybe an announcement is made of completion of the merger, completion of an audit, or submission of application to uplist to OTCQB.
EDIT: I'd also like to mention that he highlighted Vanessa's capabilities as a strong leader and how aggressive she has been spreading awareness of the MTrac brand. He also stated how Nevada, in which they're headquartered, is becoming the model for how other states are considering cannabis, and that they hope to leverage having a footprint and being established in a state that can set them up for growth in other states that may adopt Nevada's model since they will be able to meet compliance requirements immediately if they do.
