I agree, and I'm not sure Apple is going to even allow a marijuana industry payment app in their app store. Seems like they are going all in on MJ and not leveraging their core competencies.
I see what you're saying. All reasonable concerns. I'm hoping the marijuana industry as a whole latches on to this new system and makes us substantial money for years to come.
The news reads that "Green pay will be operating as their own separate entity but all proceeds will go to MYEC." MYEC wouldn't have to do any research or have anything to do with what goes on in the back end. Operating costs, maybe, depending how the ownership structure works but I'd imagine as it's own entity, it won't be too harsh for MYEC.
Seems fishy? You r overthinking this, looking for smoke where there is none. Hell, this coulda been the plan from the beginning, but they just went this route to make it more palatable then just having MYEC keep an "MJ" entity directly on its books. We get all of the revenues generated now for NOTHING. Its news that is so good that it cant possibly be without a catch right?
Their operating costs are going to be on par with MYECs. They are using the same product! Lol. So anything Greenpay does will essentially be at least double revenues. Thats worth the added costs on a percentage basis without a doubt, as they are going to be having a high profit margin as well with the automated system.
Ed was already spending an elaborate amount of time on supporting this company and getting their app launched. As with all M&A's, there is a risk, but now if it is successful MYEC will get the MJ pay subsidiary as an asset on its books plus the transactional fees, while before MYEC was just going to get a portion of the transactional fees.
Additionally, as for its core competences, it is already launching its own app. Thus, I would say this fits right in line with that portion of MYECs business.
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