Yep, I think they're going to combo the Form 10 with the 10Q at the same time.
This PR was a fluff piece, likely whipped up in a jiffy, to perk up shareholders until then. There's grammatical errors and all the verbiage one would expect from a company trying to get prospective investors interested. Yet, there is nothing new here for those who have been following the company closely over the last year.
"Since the launch in October the platform has seen month over month increases the number of transactions on the platform, net revenue, and even in the average ticket price."
-Come on GOHE, check that grammar. It's just a sign of rushing to say something to me.
"From the Company’s own research on customers using MTrac they have seen an average increase of 26% on ticket prices compared to before they were able to accept credit cards."
-We only had 6 merchants before credit/debit cards were used. If we are now in over 30 locations, any news comparing the old platform to our current one is irrelevant. Especially once the Q4 numbers are released, there will be no reason to explain the benefits of not requiring someone to load cash onto a wallet app before they can make a purchase. It's a no-brainer that an implementation which enables customers to use cards over the counter is a superior approach.
"The Company expects to continue the trend of significant revenue increases over the coming months as more merchants adopt the platform and system updates are pushed to streamline processes. The Company boasts a 100% client retention rate and anticipates rolling out the platform in four new states, Minnesota, New Jersey, Florida, and Hawaii by the end of February."
-I mean, I'm expecting over 100K revenue in Q1 so yea the trend better continue. 100% retention while only operating for less than a year. This number will prove to become more significant as business continues, but right now it's not really eye opening. It's good we're not losing merchants and growth into new states shows expansion, but this is all part of normal operating procedure by now for a company trying to capture a share of the market.
"We recently launched an API to integrate Point of Sale systems and we are currently in talks with several of the largest POS systems in the Cannabis industry, the first of which could be live as early as the end of this week. We are gaining serious momentum, and the last several months is only a glimpse of what is possible in 2019.”
-More carrot dangling. There will be no "momentum" regarding the share price or the company's market value, unless they deliver these filings so that investors can see hard numbers and determine what the risk/reward looks like for 2019.
I think we get silence until Feb 14th now. Unless there's another PR tied to POS integration, we'll finally get what we wanted then...unless they file for an extension again like they did for Q3...
