Agritek Holdings Inc. (AGTK)

[vegasvic]

Leo, this is from the 10Q above READ.....
Previously, the Company provided merchant services to approximately forty medical dispensaries and wellness centers throughout California and Colorado through our sponsor bank Electronic Merchant Systems (“EMS”). EMS has advised all medical dispensaries that they will no longer accept their Visa and MasterCard transactions. This change was effective on July 1, 2012 and will have a materially adverse effect on our business.

Note...they have lost their revenues & switching to 800 commerce with spinoff. They r teasing current shareholders to hold to get a small # of shares in new offering so they can dump their MWIP.
JMO.