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Hello for avoidance of doubt, I’m not a financial advisor.
I am a concerned citizen that is going to copy and paste a rebuttal made by a smart man in response to the bear cave short report. The short report is Weak sauce at best once you read the rebuttal, you will dig the dude for helping lower share prices so that you can get them on sale now.
The story I’m telling myself is that this disruptive transaction processing system that GBOX POS has will make this company one of those that you wish you would have invested when the moment presented itself to you. You may not understand the underlying technology of blockchain, but just know it is the way.
By the way, I compared the charts and movement of riot chain with this GBOX and charts are similar. The story I’m telling myself is that the short report along with the bitcoin and crypto going down in price were all related as far as investor sentiment goes.
The bear cave short report isn’t anything but a bump in the road where a short seller is going to say his piece and borrow stocks and dump them and drive stock price down then buy back the shares and repay then stock loan back and pocket the cash made from, shorting GBOX POS. This GBOX POS will disrupt the payment processing system and make transactions seamless.
The story I’m telling myself is now is the great time to gain a position and hold long.
look at the tiprank 9 ranking. Look at the wallet investor projected price per share in one year and in five years.
Look at the analysts strong outperform rating of 9 on a scale of 10
I look for niche stocks with great upside potential and downside protection.
Summary
The Bear Cave’s allegations on GreenBox POS are largely unfounded.
The stock offers significant potential upside due to the fall in stock price.
The company continues on its fast growth trajectory that is unlikely to be disrupted in the near future.
Photo by sittipong phokawattana/iStock via Getty Images
Thesis
In this article, I will be explaining why the allegations by the Bear Cave on GreenBox POS (GBOX) are largely unfounded by addressing the points that were raised by the Bear Cave. GBOX has tumbled from a high of $20/share to just over $10/share as of the time of writing, largely due to the weakness in the overall crypto markets as well as the short report published by the Bear Cave. I took the liberty of reading his report and I will be addressing each of his points to the best of my abilities. Unfortunately, because the report written by the Bear Cave is hidden behind a paywall many of you might be unable to view it. However, I do recommend going to his site to read the article for yourself to judge if the points are valid. In this report, I will try to stay away from any form of defamation towards the Bear Cave, but I will try to rebuke some of his claims. It is clear that the author likes investing, and there is nothing wrong with that. However, I believe that there are some gaping holes in his arguments, most of which are because his claims are based on backwards-looking facts. Thus, I believe that we should not take his opinion at face value. This article will be divided into two main segments. For the first segment, I will be explaining the technology behind GBOX. For the second segment, I will be rebutting the points made by the Bear Cave.
Background
GBOX is a technology company that makes use of blockchain-based technology to facilitate payments and it offers significant improvements in terms of speed, security as compared to traditional payment technologies.
GreenBox POS is a technology company that develops, markets and sells innovative blockchain-based payment solutions, which we believe offer significant improvements for the payment solutions marketplace. Our core focus is to develop and monetize disruptive blockchain-based applications, integrated within an end-to-end suite of financial products, capable of supporting a multitude of industries. Our proprietary, blockchain-based ecosystem is designed to facilitate, record and store a virtually limitless volume of tokenized assets, representing cash or data, on a secured, immutable blockchain-based ledger. Payment processing in the blockchain world only requires recording a ledger, there is no movement of money. Secure tokens are used where users need an immediate transaction, in a safe, private, and hack-free environment, and where traditional banks may not work effectively, like cross border transactions or in under-banked verticals.
Technology
The Bear Cave raised a number of points with regards to GBOX. However, he did not explain how GBOX's technology works, which baffles me because I don't understand why someone would leave out the technology part of a tech company and write a short report on it. He described GBOX's investor presentation as "enigmatic" and then leave out any explanation on the technology part. I don't claim to be an expert on the subject and I did not graduate from Stanford, but I do have an engineering degree and I also understands how blockchain works and how to deploy it. I also have a CAIA charter and some experience working for a few investment funds. I hope that this gives me some credibility.
PCI level 1
If you take nothing away from this article just know this, GBOX has the PCI level 1 certificate. What is this certificate exactly? It is the highest, and most stringent, of the Payment Card Industry Data Security Standard (PCI DSS) levels which allows them to process transactions at unlimited volumes.
Given the higher level of transactions associated with level 1, the validation requirements are the most stringent. For PCI level 1 compliance, the merchant is required to have yearly assessments of compliance by a Qualified Security Assessor (QSA), in addition to the requirements for levels 2, 3, and 4. Qualified Security Assessor (QSA) companies are independent security organizations that have been qualified by the PCI Security Standards Council to validate an entity's adherence to PCI DSS.
Explanation of their tech
GBOX uses blockchain technology, which is what is used to power Bitcoin (BTC-USD). However, unlike Bitcoin which operates using a public blockchain, GBOX operates a private and proprietary blockchain. This means that it is significantly more secure, has greater data privacy and is faster to settle as compared to legacy payment technologies.
For a full explanation of public vs private blockchain, you can watch this video. The video also goes on to explain why blockchain as a service is a great idea, which is something that GBOX is doing with its gen 3 white label bank offering, but that is out of the scope for this article.
GBOX also gave some insights on the high-level view on how their technology works. GBOX also has a stable coin that is currently in the works, however that too will be out of the scope of this article.
I subscribed to the Bear Cave on substack and took the time to read the article so as to understand what he was saying about the company in order to conclude for myself if there are legitimate concerns. To understand his background, I recommend reading this article and watching this video. In all fairness, I believe that he is a person who likes investing a lot and power to him for that. However, throughout the article, it is rather apparent that he is nit-picking rather than focusing on the main point of it all, which is the technology powering GBOX.
First, what is substack, what are the credentials required to be a writer on substack and is it an editorial site? Substack is an online platform that provides publishing, payment, analytics, and design infrastructure to support subscription newsletters. Anyone can be a writer on substack, and according to substack themselves, it is a non-editorial site:
We don't commission or edit stories. We don't hire writers, or manage them. The writers, not Substack, are the owners. No one writes for Substack - they write for their own publications.
I also looked at the past returns of stocks recommended by the Bear Cave for paying subscribers and compiled it above. He is rather successful in driving stocks down in the short term over a 3 to 4 days period with an average return of -11% with the addition of GBOX, and 08% without GBOX. However, it seems that his picks are not that great over the long run with a return of 9% with the addition of GBOX and 15% without it. This likely means that his articles appeal to a wide audience due to his large subscriber base which causes his subscribers to either sell or short the stocks that he recommended, resulting in a fast downward spike. However, in the grand scheme of things his reports seem to have little to no effect on the fair value of the company over the long run. All of his picks can be seen here even for non paying readers, but you will not be able to read the content.
Points raised by the Bear Cave
Below are the points raised by the Bear Cave and I will address each of them one by one.
1. Questionable management - They are competent rather than questionable
2. Self-dealing - Not true, there is no evidence of self-dealing on the part of the management team. There is likely some traces of nepotism in the company, but that is not illegal. Self-dealing is an illegal act that happens when a fiduciary acts in their own best interest in a transaction, rather than in the best interest of their clients.Examples include taking a corporate opportunity, using corporate funds as a personal loan or purchasing company stock based on inside information received through being in the position of a fiduciary. Self-dealing is a violation of the duty of loyalty.
3. Numerous lawsuits - nobody is suing GBOX
4. Subcontracts work for the cannabis industry - they also partner with Visa and Fiserv
5.GreenBox's audit chairman was the CEO of a company that had its registration revoked by the SEC - I don't see how that is an issue.
6. GreenBox's co-founder and chairman declared for bankruptcy and paid a multi-million-dollar arbitration settlement amidst allegations of fraud. - The fraud part was disproven.
Numerous lawsuits
Let's start with the allegation of numerous lawsuits. Firstly, the Bear Cave did not state what he meant by numerous lawsuits, which would likely force his readers to jump to the wrong conclusion that a lot of individuals or organisations are suing GBOX. I find this allegation to be both misleading and baseless because upon reading the 10k, one will quickly and surely find out that there is no lawsuit against GBOX. The closest so-called "lawsuit" you can find in the 10k is a complaint filed against GBOX on which party has the rights to hold the funds and it is currently in arbitration, which is a private form of settlement between parties by appointing individuals as arbitrators, and where the court is not involved. Basically, it is not a lawsuit, and the resolution will not have a material adverse effect on operations or cash flow as seen in the 10k. All other complaints have already been resolved as well.
GreenBox partners with high-risk payment processors, mainly in the cannabis industry. Exhibit 10.5 of the company's 10-K is a license agreement between GreenBox and MTrac Tech Corp., whereby MTrac can use GreenBox's technology to manage relationships with "High Risk Marijuana Retail Dispensaries." The license agreement may lack economic substance because MTrac is majority-owned by a GreenBox executive, and MTrac's CEO was later hired as GreenBox's Chief Operating OĎcer.
There are a few problems with this statement. Firstly, what is the meaning of a high-risk payment processor? A high-risk merchant account is a payment processing account for businesses considered to be of high risk to the banks. As high-risk businesses are more prone to chargebacks, they come with the need for paying higher fees for merchant services. High-risk merchants are often able to generate an impressive income. But, with high revenue comes high chargeback, fraud, and money laundering risk. As such, high-risk merchant accounts require that more complex payment processes be put in place (i.e. smart anti-fraud filters), and because these accounts are at a much greater risk of having to deal with an excessive amount of chargebacks, which are troublesome for everyone involved. I don't see how this is an issue for a company that has a PCI Compliance Level 1 certificate and is much more secure, with faster settlement speed and an AI technology fraud detection technology embedded within.
Secondly, he fails to mention that GBOX also partners with large reputable companies such as Visa and Fiserv. This is just one example of how the Bear Cave was nit-picking in his short report.
Audit issues
The Bear Cave cited the fact that the company disclosed a material weakness over financial controls from the 10-K as an issue with the company followed by highlighting that the average market cap of BF Borgers CPA's 10 most recent public clients is only $30 million on average.
Again, there are several issues with these claims because it shows an immature understanding of business operations. With regards to the issue with the audit report, I sent two of my friends the audit statement. One is working at KPMG as an auditor and the other an ex EY auditor. The summary of what they told me is basically that these are standard boilerplate templates and as long as it's not a qualified statement that was issued, there should be no problems with the accounts. The critical audit standard is simply the things that they want to highlight about the more judgemental accounts, and that if there are certain portions that the auditor wants to qualify, they will have to explicitly write it out. In this case, they are just describing the process that the company uses. Also, if there is anything fishy going on, it would require a lot of industry expertise to catch, thus it is highly unlikely that it would be exposed in this manner.
Secondly, management already stated in the 10-K that they are dealing with the internal controls issues right now, and can you really blame them for it since the company is growing so quickly.
Management believes that the hiring of additional personnel who have the technical expertise and knowledge with the non-routine or technical issues we have encountered in the past will result in both proper recording of these transactions and a much more knowledgeable finance department as a whole. Due to the fact that our accounting staff consists of a Principal Financial Officer, a bookkeeper and external accounting consultants, additional personnel will also ensure the proper segregation of duties and provide more checks and balances within the department. Additional personnel will also provide the cross training needed to support us if personnel turnover issues within the department occur. We believe this will eliminate or greatly decrease any control and procedure issues we may encounter in the future.
With regards to his allegations on using a small audit firm with small clients. It is actually typical for Companies that just went public, especially small companies to have smaller audit firms due to the significantly higher cost that comes with hiring audit firms from the big 4. I know this because I've worked with investment bankers before regarding the potential IPO of the company of a family member which eventually fell through. Nonetheless, I gained some experience in that regard as I was the one doing the research and talking to the investment bankers. Not to mention that, up until very recently which is less than a year ago, the company was trading at less than 30 million dollars market cap. How likely is it that a company's management team would focus on the accounting statement rather than focusing their efforts on growing the company and clinching new deals?
Oral agreements
Another point that he brought up was that GBOX entered into an oral agreement with a client and subsequently sued the client for breaching the oral agreement. I don't see why this is a big deal because verbal contracts are legally binding. I don't understand why GBOX is the bad guy in this case when they are the victim. Remember, this company is just starting out, likely not everything is written in black and white.
Questionable management team
The Bear Cave then went on to talk about how 4 personnel in GBOX are questionable. There are several allegations pertaining to each person so I will only address the main one or most significant one.
William J Caragol, director and chairman of the audit committee
Main allegation: CEO of a diagnostics company that fell over 99%. The SEC later revoked the company's registration.
Why it is either wrong or doesn't matter:
It doesn't matter because it was not revoked because of wrongdoings but because it did not file periodic reports with the commission over a period of time.
Ben Errez, Chairman, co-founder, principal accounting officer
Main allegation: Allegations of fraud in real estate business, donation of $13,000 to his son's Kayak team
Why it is either wrong or doesn't matter:
What the Bear Cave said about Ben Errez committing fraud is simply not true. It has been overturned by the judge. "The Cavanaughs had asked for $4.2 million, but Lukens disallowed some fraud charges, finding the Cavanaughs had not met the nine guidelines the State of Washington sets out to prove fraud. The final award will include attorney fees, accounting fees and interest and will be closer to $3 million."
With regards to the donation. It does not reflect well on him, but more importantly, it is not illegal.
Liron Nusinovich, Head of underwriting and KYC
Main allegation: CEO's brother, thus guilty of nepotism
Why it is either wrong or doesn't matter: Nepotism is not illegal.
Kenneth Haller, Senior Vice President
Main allegation: Owns majority stake in ChargeSavvy
Why it is either wrong or doesn't matter:
For some reason he implied that ChargeSavvy's acquisition price going from $31.2 million in stock to final closing price of $12 million in stock is a bad thing and then stated that Haller is a related party in the transaction. However, related party transactions are not illegal and is actually quite common in the business world. All of these related party transactions are also stated in the 10-K:
"Haller brings considerable advantages to the Company's platform development and business development efforts and capabilities, including transactional business relations and a large network of agents, which the Company believes, are capable of processing $1 billion transactions annually (the "Haller Network")."
New board members and CFO
According to Stockreversal who has been conversing with the management team since the company was trading on the OTC exchange, he believes that the company is in the works of hiring a CFO and they are looking to add two independent directors to the Board near term with significant financial sector experience which would likely provide more corporate oversight and strengthen the company's overall internal controls.
GBOX likely to miss revenue targets
The Bear Cave cited that the company raised projections from $12.0 to $14.0 million in EBITDA for the full year 2020 but went on to only make $0.3 million in adjusted EBITDA in 2020. Again, that is nit-picking because they did beat their projections in other aspects such as the fact that they projected $2.2 million in revenue for Q2 but made $2.3 million instead. Also, another reason for the deviation is likely because they were dealing with the uplisting to NASDAQ while also focusing on their Gen3 technology at the same time, thus they were unable to meet the targets.
Risks
However, there are some points that the Bear Cave pointed out which might be valid, thus I would consider them to be risks for the bull case. First is with regards to the practices of nepotism stated in the Bear Cave's reports. As mentioned earlier, though it is not illegal, it does reflect poorly on the management. Second, with regards to the company's projections. It is true that the company has some rather aggressive revenue targets, thus it would require great execution to pull it off.
Conclusion
The article published by the Bear Cave has many inconsistencies and seem to be a hit-piece with little substance upon further inspection. There have been many cases of short reports taking down a stock based on unfounded allegations and I believe that this is one such case. For example, GBOX reminds me of another similar company called Intelligent Systems Corporation (NYSEMKT:INS). The situation was really similar because it is a payment processing company and its stock price got brought down by a short report, but after a few weeks, it went back up to its original trading price before the short report, earning me a 100% gain. I wrote an article on it but unfortunately, I published it on alphaswap instead of seeking alpha. This is the link to the article.
CAIA Charterholder, microcap investor,long/short equity,growth at reasonable price, deep value, I like to i...
Long Only, Deep Value, Long-Term Horizon
Contributor Since2017
CAIA Charterholder,
microcap investor,
long/short equity,
growth at reasonable price, deep value,
I like to invest and analyse stocks.
I look for niche stocks with great upside potential and downside protection.
Disclosure: I am/we are long GBOX. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Ben Errez, the Chairman spent approximately 14 years at Microsoft and is a brilliant researcher. Greenbox also displaced Elavon, a top 5-7 payment processor of credit card transactions in the US and owned by US Bancorp that does 300B plus transactions a year. Elavon was Fiserv's partner and wasn't doing an effective job in the CBD space (not marijuana) and GreenBox had a better solution. Fiserv is number 311 in the Fortune 500 through 2020. Visa has also partnered with Greenbox and Signature Bank has signed on too. The company needs to strengthen its corporate goverenance, which I expect it do going forward, but there is no doubt this is a company with strong technology that the largest and best companies in the industry want to partner with. Blockchain and digital coins are on the cusp of disrupting one of the largest industries in the world, financial services. I view this pullback as a gift.
A fellow reader pointed out the business dealings that GBOX has with MTrac Tech Corp is a potential red flag because MTrac is the subsidary of a company called Global Trac Solutions, which he finds to have poor fundamentals. Thus, I thought it would be good to add some additional commentary on the situation and to shine some light on the actual business relationship between the two companies, which has already ended as of June 2020. MTrac was basically just licensing the payment technology from GBOX. The technology that they licensed from GBOX was a white label and thus MTrac branded it as their own. Furthermore, the two companies no longer have any business ties.
That is basically all that there is to the business dealings between the 2 companies. Also, it is worth pointing out that GBOX did this because it has no interests in service with high-risk clients, thus they granted MTrac. I see nothing concerning here, and I don't believe that GBOX's success would have much to do with the nature of Global Trac Solutions or MTrac's business. Furthermore, just because MTrac's fundamentals aren't great isn't going to spill over to GBOX because GBOX is basically only powering the technology for their payment services to deal with clients that GBOX does not necessarily want to deal with.
@Dennis Chan Thanks for weighing in. I am not sure what to make of it, but your conclusion makes sense. From my end, I have seen over time that companies that do deals with shady companies may have their own issues. Of course, that's not always the case.
Comments: House votes on HR 1996 to allow Marijuana related businesses to enjoin Banking credited to all legitimate businesses. Gbox which has technology & Visa/FDIC Bank including Blockchain/highest Fraud Detection to enact transactions anyone whom has dealt with National Banks should understand that not only is this major legislation for Cannabis Industry but allows gbox to take on formerly higher risk businesses. Conclusion is going forward gbox business in Cannabis will add to restaurants & bar business including delivery businesses.
I see reference to MTrac. This company has been identified with a penny stock that I have considered to be of the lowest quality - short on fundamentals and long on hype. This company has morphed into the psychedelics space. Was previously Global Payout (OTC: GOHE) and is now Global Trac Solutions (OTC: PSYC).
"MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Global Payout, Inc. MTrac is a software technology, sales and marketing, and business development company focused on “high risk” and “high cost” industries. The Company’s flagship product is the MTrac payment platform offering a full-service solution with technology offerings including Payment Platform, Blockchain, Compliance, POS, E-Wallet, Mobile Application and Digital Payment Solutions. We are one network disrupting the status quo. It is MTrac’s creative vision through the use of its innovative technology solution to become the premier service provider offering the “Key to Cashless®.”
Last they disclosed in their press releases:
"SAN DIEGO, CA, June 12, 2020 (GLOBE NEWSWIRE) -- Global Trac Solutions, Inc. (OTCPink: PSYC) (“Global” “PSYC” or the “Company”) would like to announce to its valued shareholders and stakeholders that in an effort to more strategically focus the Company’s current growth and expansion initiatives within the burgeoning medicinal psychedelic industry, in addition to adapting to the challenges faced within a changing economic climate, the Company has made the decision to wind down all operations associated with its wholly-owned subsidiary, MTrac Tech Corporation effective immediately."
and
"In connection with its decision to wind down operations with MTrac, the Company has mutually and amicably cancelled its exclusive licensing agreement with its former technology partner GreenBox POS and will dedicate the next several weeks towards an effective and efficient phase out of any and all remaining business operations within MTrac."
@Dave Zej I have no idea and don't follow this company, but doing business with a fake company is never a positive sign. MTrac was a nothing. Maybe POS stands for something not intended, lol.
@Alan Brochstein, CFA Hi Alan, Thanks for pointing this out, I appreciate it, and I will add the business dealings that GBOX has with MTrac into the article later. Let me explain exactly what GBOX had to do with MTrac, which as you pointed out is a subsidiary of PSYC. MTrac was basically just licensing the payment technology from GBOX. The technology that they licensed from GBOX was basically a white label and thus MTrac branded it as their own. As you also pointed out, the two companies no longer have any business ties.
That is basically all that there is to the business dealings between the 2 companies. I see nothing concerning here, and I don't believe that it has much to do with the nature of PSYC or MTrac's business, and just because MTrac's fundamentals isn't great isn't going to spill over to GBOX because GBOX is basically only powering the technology for their services. Saying otherwise would be similar to saying that just because a merchant's payment system is powered by Stripe, and the merchant has a poor business, it somehow spills over to Stripe and we should call Stripe a bad business as well. I don't think it works that way
You can find everything I mentioned on the link below, otherwise, I've also copy and pasted the relevant parts from PSYC's 10k. Thank you for reading: backend.otcmarkets.com/...
About MTrac Tech Corporation: MTrac Tech Corporation is a Nevada Corporation and is a privately held wholly owned subsidiary of Global Trac Solutions, Inc. From February 2018 through approximately December 2019, MTrac operated as a software technology, sales and marketing, and business development company focused on "high risk" and " high cost" industries by offering a secure and compliant payment processing platform powered by patented innovative technology licensed from GreenBox POS. This technology was white labeled and branded under the name of “MTrac” (the “MTrac System”) which the Company marketed and delivered to a variety of key “high risk” and “high cost” industries and emerged as the Company’s primary revenue source from its full market launch in October 2018 through December 2019.
In December 2019, MTrac, commenced with a transition away from a payment processing service provider and towards establishing MTrac as an Independent Sales Organization (“ISO”) within the same high-risk market sector it had been operating in since February 2018.
On June 12, 2020, the Company announced, through a press release, its intent to effectively phase-out all businessrelated activities associated with MTrac and transition out of the cannabis industry in order to more effectively focus its efforts on expanding within the emerging medicinal psychedelic market space, resulting, in managements’ opinion, of an uninterrupted conversion from one business to another. This announcement also coincided with the termination of its Exclusive Licensing Agreement with GreenBox POS and Cultivate (see below).
During the last quarter, management effectively concluded all ongoing operations associated with MTrac as the Company maintained the business operations needed to transition to the current business plan related to the medicinal psychedelic market. As management concluded the MTrac business, the Company will continue to resolve any remaining and outstanding obligations, financial and otherwise, associated with MTrac business operations. MTrac remains as a wholly owned subsidiary of the Company.
….
GreenBox POS, LLC: Exclusive Licensing Agreement: on February 1st, 2018, we signed a joint venture agreement with GreenBox POS, LLC (OTCQB: GRBX) (“GreenBox”), (“GreenBox JV 1”) by which we acquired exclusive rights to utilize the GreenBox technology for High Risk merchants for one year. We paid GreenBox $360,000 in consideration of the grant of the one-year license to us and agreed upon other performance-based terms. GreenBox granted exclusive right to use its infrastructure technology and allow MTrac extensions to such technology, in support of MTrac business interests, commonly known as "High-Risk" clients, where GreenBox has no interest in servicing such clients.: On June 12, 2018 we replaced GreenBox JV 1 with a new exclusive licensing agreement (the “GreenBox 5 Year License 1”) which granted exclusive use of the GreenBox technology for High Risk industries for a period of 5 years. On October 2, 2018 the Company entered into an agreement with GreenBox and Cultivate Technologies, LLC (“Cultivate”) a Nevada Corporation, by which certain payment terms of the GreenBox 5 Year License were
modified (the “Unified Agreement”). On December 17, 2018, the Unified Agreement was cancelled and replaced by a new 5-year exclusive license agreement (the “Current Exclusive License”). On June 12, 2020, the Current Exclusive License discussed above was terminated by and between MTrac, GreenBox and Cultivate through the mutual agreement of the parties with neither MTrac nor the Company having any residual or current obligations to GreenBox and Cultivate and GreenBox and Cultivate having no residual or current obligations to MTrac. This termination was to part of the ongoing transition from a cannabisbased business to the Company’s current business plan related to the medicinal psychedelic market.
These short Bash and Cash pieces are very lucrative to the author who takes a big short position and then launches the article on a stock that has gone up a lot has a small market cap and has significant volatility. It's like shooting fish in a barrel and it's totally legal. If I was unethical I would start my own Bear Cave or Iceberg business under a different name.
Thanks for the research. Let's compare and contrast the Bear Cave garbage with the quantumscape piece penned by Scorpian. Kir Kahlon MBA from Harvard.. Worked for Seligman and Tiger. Said on CNBC yesterday. They researched this for months and spoke with dozens of experts in the field. I don't know much about batteries. Maybe he's right. Maybe not.
The point is GBOX only up listed to Nasdaq 2 months ago. Only 1 q earnings released as a public co. This Edwin guy is like 20 years old . He has a part-time college intern and shares a receptionist. He's good at self-promoting. Yelling "fire" in a crowded movie house. As far as his research . Looks like he thorws a dart at any quick moving small cap new tech co and hopes for the best. Signet bank and Visa... Do you think they just let anyone send out a press release ? SBNY is an $ 11 BB bank. Visa Fintech FastTrack program. I suppose Visa just let's anyone join!
Read any public company's 10K. It is littered with warnings and cautionary statements. Microsoft has 23 pages alone.
This guy got lucky . Hope he covered on Friday. That may have been the low
Fundamentally, Dorsey is a nobody and he has limited understanding of how business works. He may have been paid by the big guys so they can have a narrative justifying the price dump.
Notice how this tactic is similar to what Justice Kavanaugh underwent during his hearing.
A real shame that people can unjustly sling mud at others and walk away scott-free.
This is an easy entry into Blockchain by processing which is more secure and convenient then purchasing currency or any company involved at exorbitant costs
After ChargeSavy is incorporated GBOX will have the most secure processing of any financial institution including all Banks. Technology not only can use blockchain but through technology takes pictures of user: Drivers License: securing user blockchain and or credit card preventing fraudulent use. No other system utilizes obvious and it can take all digital payments.
I made a mistake regarding this point: 2. Self-dealing - partially true, but not illegal
what I meant to say is, there is no evidence of self-dealing on the part of the management team. There is likely some traces of nepotism in the company, but that is not illegal. There are some changes that are currently pending, so I can't edit the article right now, but I will do so later.
what is self-dealing Self-dealing is an illegal act that happens when a fiduciary acts in their own best interest in a transaction, rather than in the best interest of their clients.
Examples include taking a corporate opportunity, using corporate funds as a personal loan or purchasing company stock based on inside information received through being in the position of a fiduciary. Self-dealing is a violation of the duty of loyalty. www.google.com/...
GreenBox almost feels something like a SPAC, on first impression.
The company has been losing money, represents itself with the most atrocious branding and marketing that I've seen in the space, and has been giving away margin by outsourcing nearly all its sales. And yet it has very cleverly spun the buzzword "blockchain" into an opportunity to raise money on pink sheets and then used the subsequent proceeds to acquire an established company that actually makes money, ChargeSavvy.
In this way, one could be forgiven for seeing GreenBox as similar to an empty SPAC-like vessel for ChargeSavvy to become publicly traded. Of course, this is an imperfect comparison because GreenBox actually has a handful of programmers building out some tech.
The author of this article may well be correct that the recent Bear Cave report has flaws in it.
Nonetheless, Greenbox hopes to compete with Stripe, PayPal, Braintree, et al, which is a tough environment. I'd need to see GreenBox actually stabilize, turn a profit, and show signs of real organic growth (beyond the IPO-fueled ChargeSavvy purchase) before I'd give serious consideration to investing.
@Stock Reversals If so, that'd be good news. If I were an employee at Greenbox worried about my stock options being worth $0, it would be heartening to see at least one regional bank deal get completed. However, as a prospective investor, I need to see much more organic, profitable traction as there are plenty of other opportunities in the market.
I believe they have hired a CFO and this was in the works already. I also understand they are looking to add two independent directors to the Board near term with significant financial sector experience. These blocks are being added after the recent IPO which makes sense.
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The coolest and best brewery is in Arlington texas and is called legal draft beer company. I enjoy their beer and their brewery and their team and facility in downtown Arlington texas is fantastic. Josh is our favorite dude there and they have a new brewmaster Josiah from Los Angeles. The smash and grab IPA is delicious.
well done team Legal Draft! Sending good vibes your way.
Sending Good Vibes Your Way Kevin Hart! I'm digging the audio book. A bunch of the GMs in my company have a book club and you are our featured book. Peace out. Tadd Mansilla
Hello. In his audio book The Decision, Kevin Hart talks about googling him and the search results for Kevin Hart Scandal. Kevin Hart jokes in his audio book asking the listener to let him know the name of someone that can clean up his google searches. Now I don't know if he is joking or serious, however this is part 1 of my test to see if this can be done for Kevin Hart.
Kevin Hart's wife recounted how she found out he was cheating over social media while she was pregnant in a revealing new docuseries
Kevin Hart and Eniko Parrish attend the premiere of Sony Pictures' "Jumanji: The Next Level" on December 09, 2019 in Hollywood, California.
Kevin Hart's wife Eniko Parrish tearfully recounted finding out about the comedian's cheating while she was pregnant in 2017 in a revealing new Netflix docuseries.
Parrish was sent a video of Hart and another woman over social media, before it publicly circulated amid an extortion scandal.
"Don't F--- This Up" offers an inside look at Hart's personal and public scandals he became known for during his astronomical success as a comedian.
In one of the most revealing episodes of the series "Don't F--- This Up," Hart's wife Eniko Parrish tearfully recounted finding out about the comedian's cheating over a direct message on social media sent by a stranger while she was around seven months pregnant.
Parrish said in late 2017 she was having breakfast when she opened a video of Hart and another woman on her phone.
"[I] immediately I just lost it," Parrish says in the documentary. "I called him, I'm crying, I'm like pissed. Right then and there, I kept saying, 'How the f--- did you let that happen?'"
Speaking over footage of paparazzi confronting her in public while she was still pregnant, Parrish recounts the public fallout of the scandal after the video surfaced on social media.
"You publicly humiliated me," Parrish said of Hart. "Your whole everything's on Instagram, everything's on social media. It was an ongoing fight all the time. Every single day. I kept questioning him, like, 'If this is what you're gonna do, I don't want to be a part of that.'"
Hart initially laughed off the video in August 2017 before posting a video to Instagram in September 2017 after the video was at the center of an alleged extortion scam, apologizing to his wife and children for making "a bad error in judgment."
It wasn't until December 2017, one month after the couple's son Kenzo was born, that the comedian confessed to cheating on "The Breakfast Club" radio show.
Since the scandal, Parrish said in the documentary that the comedian "is a better man now," the couple has since moved on, and she looks forward to their family's future.
"I'm happy that it kind of happened," Parrish said through tears. "I get sensitive every time I talk about it. He's f---ed up, this was a bad one, this was major. Nine years and I think looking forward, it'll be better."
The cheating saga is just one of Hart's infamous controversies that a trailer says are explored in the show which is billed as exploring "the trials and tribulations of what it means to be a father, a partner, a role model, and a businessman" that "have shaped his life, making him into the person he is today."
One of the other major infamous moments included in the docuseries is Hart's Academy Award scandal, in which homophobic tweets posted by the comedian between 2009 and 2011 were resurfaced in the run-up to his hosting the 2019 Oscars award show.
Hart attracted waves of criticism in the scandal, after he appeared determined to shut down further comments and questions on his past tweets.
The series premiered in its entirety on December 27.
There was a time that I went to the range 1-2 times each week and shot 200-500 rounds of 9mm ammo each and every week. That was pre-covid when ammunition was available and the range was stocked and the sporting goods store was stocked. I still remember the first time I walked into Academy Sports and saw all the shelves empty. I thought, what the **** is going on here?
Now during the pandemic after experiencing a job lay off for a few months and then pay cuts when I returned to work... and no ammo on the shelves, my hobby has turned into a luxury that is not easily afforded as it was before. Even if I can find ammo, it's priced at a premium and buying ammo in bulk is just not in our budget at this time. Also burning through my reserves is not something I want to do, however I still want to enjoy target shooting (it's my hobby), and I don't want to use up my ammo.
What's my solution? A 9mm laser training cartridge that has an app that I installed on my phone that records the laser hits to the target, which is whatever I want the target to be. I just point the camera on the phone (via the laser training app) and it calibrates and then records the laser hits. Does it make sense? Yes, to me it makes a lot of sense. I am able to use the laser training cartridge in any of my 9mm pistols.
The pros? I am able to practice and target shoot and muscle memory is retained. I am able to practice at anytime in the privacy of my home so I don't have to try and get to the target range on time before they close. I am not spending money on ammo.
The cons? I have to rack the slide a little bit to make the trigger reset after each shot. However with a pistol that has second strike capability, there is no need to rack the slide to reset the trigger. I only have one pistol that has this capability but is not my choice for normal target shooting so is not used for this target practice.
Here's a picture. The app the laser training cartridge comes with records 10 shots at a time. I simply taped up an old target I used at the shooting range to a wall in my house and used that as my laser training target.
Hello. You know what would be better? If the characters in this episode were able to kill an "empty". Sheesh. Really? They have flashbacks of their teachings and and yet they poke and prod everywhere but where the brain is. Makes no sense to me. I'm not a fan yet of this version, but hey... maybe the good is stuff is yet to come. In other episodes of The Walking Dead, fighters would get bit or overrun when surrounded. Maybe the "empties" in this version are weak sauce because the four characters in this current journey seem to be weak sauce.
Hello. I watched an episode of undercover boss and this has got to be the best episode I've ever seen. I saw it on celebrity watch party so didn't see the original episode that aired. I do know this..... it brought a tear to my eye and happiness and joy to my heart.
Thank you, Mitchell Modell, for being such a kind and generous man. To see how you were touched and cared so much to make an impact in the life of one of your team members is truly inspirational.
Your actions are loud and clear, and I'm sending good vibes your way. Be well.
movie theater open now DFW Dallas Fort Worth Arlington - Studio Movie Grill movie theater and restaurant is open at the Arlington Highlands
Hello. Are you ready to start watching movies again at the movie theater? Studio Movie Grill at the Arlington Highlands is the best movie theater full service dine in theatre in Texas.
SMG Studio Movie Grill @ the Arlington Highlands 225 Merchants Row Arlington, TX 76018
Click this link below to see what shows are playing today and the showtimes.
Remember that the studios in Hollywood are not releasing new films yet with the Covid-19 pandemic happening, so Studio Movie Grill also known as SMG is showing older popular movies at a low price of $5 per ticket and even $1 ticket for some shows.
You can now purchase menu items on the SMG App, self-service kiosks, or at your seat by pressing your Service Button. Freshly prepared entrées and hand-crafted cocktails are delivered directly to your seat.
The app is a must have to help make your experience and visit even better and easier. Click the link below and download the app.
All CDC guidelines are being followed regarding social distancing. Deep cleaning, sanitizing, use of gloves and masks and social distancing is in place to make it as safe as possible for you and the team that serves you. Masks are required to enter the building as mandated by the local government. Please follow the rules.
When you pick your reserved seats, the ticketing system will automatically prevent the two seats next to you and your family from being picked by anyone else.
If you want to see a movie or see a movie and have a great meal, or just want movie and popcorn and sodas and candy, all of that is available. Cocktails are also available as there is a full bar as well.
Great family environment, great place for a date, great place to just get a way for a few hours and enjoy a movie. Remember that watching a movie doesn't have to be a team sport. Come and watch a movie by yourself and escape for a couple of hours and enjoy yourself.
If you want to rent a private auditorium, you may rent the whole auditorium for you and your family and friends for only $200. Click here to have your own private screening in your own private auditorium:
Hello. The sprint cellular service could not be connected to after the ios 13 update. I used the customer service chat and the problem could not be resolved by the service rep. We tried everything and still "searching" and "no service" continued to happen. I was able to connect to wifi, but couldn't connect to the sprint service.
Here is what I ended up doing to resolve the issue.
Back up my iphone to the icloud.
erase and delete and reset the iphone.
set up the iphone like it was new and did not restore the back up. (I figured if I couldn't get a connection to the sprint network, the iphone would be sent in for service and I didn't want my data on the phone.)
the sprint network showed up on the phone after the set up process and the cellular data info and network was now showing up in my settings.
I restored my back up via itunes
So that's the quick how to version above.
I've spent hours on this and when I get some sleep, I will return and post screen shots and more detailed info. The story I'm telling myself is that if your sprint cellular failed after the ios 13 update, the above info should save you hours of time and frustration.
Something in the ios update had a conflict with the settings that were in the phone and the thing a ma jig that connects the phone to the cellular service stopped working. I thought maybe it was a hardware issue, and now that it works, it was an update issue.
