In other news...
I called into GreenBox's special meeting with investors today. Ben, the chairman of the company said something about having met their 2019 goal of processing 100 million transactions this year already. Unaudited revenue is looking to be little bit under 3M for first 3 quarters.
GOHE revenue is under 1.5 million but appears to be contributing to around half of the transaction volume generated on GreenBox.
GOHE is on ice, and this lawsuit matter is going to leave a black eye. However, it seems to me that for least through 2020, these 2 companies are going to need each other. If they can get their financials in order, and both open their books, GOHE can survive this pending dilution with the lawsuit. They need to man up and act like a company that is maturing. Settle this lawsuit in the timely matter. Start filing reports in a timely matter and put 2019 behind them. They need to do these things by the end of the year, so that if this product they're offering is truly legit, they can capture enough of the market to become profitable in 2020. And if they open the books, and are operating legally and compliantly in the new year, maybe some actual institutional investors recognize them so that retail can see some returns.
All this is critical status for this company, and they should be pulling double time to get it done. Legislation is on it's way to creating many players in this market. We are going to see if current ownership is in this to win it or are satisfied stickin it to retail. I'm sure GRBX having a noncompliant ISO generating half their transactions will not seem like a partnership they'll want to maintain if they can't get any institutional investors on board either with their own public offering. And if this partnership with MGR2 that GOHE is accused of not honoring is any indication, it makes that 5 (now 4) year exclusive license deal with GRBX look less secure than ever. Especially when you consider that deal has been restructured 4 times already and that they released more GOHE news about diversifying their portfolio in the sales in marketing of other technologies. That's why I don't think Mtrac Tech will ever become the parent or seeing a ticker change.
Me reading between the lines here indicates they are working on backout strategies more so than going all in with MTrac Tech or deliver return anytime soon for in investors. But like a fool, I gotta see this 4th quarter and what they do at least in the first few months of the new year. To GOHE, I say I've got one foot out the door. If MTrac Tech ain't what's cooking in the kitchen, then I'll buy McNuggets with what I have left lol.
This is mostly opinion and this is not to be interpreted as investment advise. Proceed with caution here.
