PSYC Corporation (PSYC)

[FreddyJ_30]

From MTrac's website:

The funds that back the Merchant Wallet are held in FDIC insured
United States Bank Accounts. (Ready to be Transferred at the
Merchants Request)

www.mtractech.com/retail


I'm curious about these bank accounts and who they belong to. Likely accounts owned by GreenBox. Another question I have is if that's a reportable number? Both GreenBox and MTrac have touted number of dollars transacted in past PRs, but wouldn't that number give us a better valuation of the GreenBox/MTrac platform? Even though technically a majority of those funds would belong to merchants/vendors, it would give the shareholder a better idea of the "weight" behind their investment. I'm sure it's likely these merchants/vendors are requesting transfers frequently, so I'm curious as to the willingness they have keeping and trusting their money in bank accounts that are not likely under their control. And if that's the case, how is that interaction with our clients? An ACH payment? Some other method? Surely, this transaction is not "instantly" settled?

Just tossing out there what I'm focusing my DD on over FY19.

Oh, and on a highly speculative note...What banks run these accounts? They would be the biggest buyout candidates I'd imagine. Even if it became legal at the federal level, the integration costs would be fairly minimal since they ran the accounts anyways...and ohhh boy that juicy block-chain tech could be called that bank's own "proprietary" software...