- Successful launch of Company's proprietary cannabis banking solution last quarter, to generate first-ever revenue stream for Company
- Over 150 applications and dozens of new accounts for banking opened since achieving commercialization last quarter
- Go! platform to represent first-ever payment solution available across all legalized cannabis states, providing Company with key first-mover advantage
- Company expects to expand Go!’s presence as it prepares for second stage of launch in current quarter
LAS VEGAS, NV / ACCESSWIRE / January 14, 2019 / Medical Cannabis Payment Solutions (OTC PINK: REFG), a leading provider of regulatory-compliant financial services for state-sanctioned marijuana, today provided an update on the company's activities in 2018 and its 2019 strategic direction.
"We announced last September that we have launched our nationwide banking solution for state-sanctioned cannabis. We're happy to announce today that we have several dozen accounts open and over 120 applications in our queue," said Jeremy Roberts, the company's CEO. "Not only does this provide a revenue stream for the company, but we believe we are the only company currently providing banking services in all states with legalized cannabis. Licensed marijuana establishments may apply for a bank account on our website, paywithgo.com."
"Our corporate mantra has always been compliance, security and accessibility. And we're currently hitting on each of those principles. With the commercialization of Go!, which represents our single most important milestone to-date, we are on the cusp of an entire new era of growth and expansion as cannabis as well as other industries begin to adopt our payment solution," continued Mr. Roberts.
Go! is an electronic payment processing platform that supports money transfers and serves as an alternative to traditional transactions, such as cash or check. The system, with best-in-class security, allows state-sanctioned cannabis entities to accept electronic, domestic payment without the need for paper currency. The company believes this system solves the "cash problem" facing the cannabis industry.
The Company noted that almost entirely word-of-mouth advertising from across all segments of the cannabis industry, including licensed cultivators, manufacturers, distributors and dispensaries, has been driving the ongoing acceptance and processing of applications for its payment solutions at www.paywithgo.com.
"The company is also pleased that other industries have approached us about using our platform and we're looking at integration there as well, expanding revenue opportunities and maximizing return for our shareholders," said Mr. Roberts. "We're putting finishing touches on some software upgrades and will fully launch in all state-sanctioned states this quarter."
"We believe our efforts over the past few years have steered the company to the right place, at the right time and with the right offering. We are confident 2019 will truly represent new and greater opportunities for our clients, employees and our loyal shareholder base who have been instrumental to our success to-date and, more importantly, as we look ahead towards the future," concluded Mr. Roberts.
About Medical Cannabis Payment Solutions Our mission is to provide end-to-end management, across multiple management systems, for medicinal marijuana operations. Many medicinal marijuana companies have experienced such rapid growth that they are finding it difficult to manage all aspects of their operation. In order to become a successful and compliant medicinal marijuana operation, effective management must depend on many different systems. REFG solves the fragmentation problem by identifying tools that are important to dispensaries and customizing those tools specifically to the industry. We strive to create awareness within the medicinal marijuana industry and to develop an environmentally friendly, economically sustainable business while increasing shareholder value. For more information, please visit the company's website at www.paywithgo.com.
FORWARD-LOOKING STATEMENT: This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of REFG to be materially different from the statements made herein.