Source: Advanced Content Services, Inc. Press Release, May 22 2014
Advanced Content Services, Inc. Signs Joint Venture to Launch GreenStar Payment Solutions to Provide Legalized Cannabis Industry With Merchant Services, Ability to Process Non-Cash Payments via Debit Card
LAS VEGAS, NV, May 22, 2014 (Marketwired via COMTEX) — Advanced Content Services, Inc. ADCS -20.00% , a Holding company focused in electronic payment services and solutions, has formally signed a Joint Venture Agreement with SinglePoint(TM), Inc. SING +15.38% and Christopher Wade Mills’ GreenHouse Payment Solutions to form GreenStar Payment Solutions, Inc. (GREENSTAR), a profit corporation whose Articles of Incorporation have been filed with the Secretary of State of Colorado. The Joint Venture is well positioned to yield attractive monthly profits.
One of the competitive offerings GreenStar will provide is the ability for Medical Marijuana dispensaries to accept debit cards at the dispensaries. This merchant segment generated over $2 billion in revenues last year, virtually none of which was done through electronic payment devices such as credit and debit cards.
Combined sales of legal recreational and medical marijuana in the United States is projected to reach more than $8 billion in 2018. That’s according to a new report by Marijuana Business Daily citing data from the Marijuana Business Factbook, which forecasts that the 2018 retail marijuana industry could see an estimated $7.4 to $8.2 billion in sales.
The U.S. Government has agreed not to prosecute legal dealers as long as they meet eight requirements. In separate guidance, the Justice Department directed U.S. attorneys not to pursue banks that do business with legal marijuana dispensers as long as the dealers adhere to the guidelines issued in August 2013. Greenstar Payment Solutions, Inc. has committed to operate in full compliance with the current administration’s guidelines for the protection of the Joint Venture and its collective shareholders.
GREENSTAR transforms what is primarily a cash business into electronic payments, allowing customers to utilize debit cards and other forms of non-cash payments to make purchases, providing mutual benefit for dispensaries and their customers.
Chris Mills, featured in a Wall Street Journal article earlier this year, will be appointed as GREENSTAR CEO. As CEO, Mills will work with the team to aggressively harvest new customers with a brand positioned to serve as a non-cash solution for both legalized recreational and medical marijuana business owners.
Mills, a member of the National Cannabis Industry Association, was appointed for his experience and expertise, including a strong network of industry relationships such as that with Denver Relief Consulting, which is renowned for its work to cultivate quality cannabis operations and industry leaders committed to advancing best practices. Chris has currently set up payment processing in over 100 medical marijuana dispensary clients in Colorado, Arizona and Washington State.
Currently, the JV is actively working to secure additional customers for GREENSTAR, with plans to accrue 240 new merchant clients by end of year and between 500-1000 in 2015. Historically, on average, Mills reports $480 gross per account per month. These numbers equate to a multi-million dollar prospect on merchant business, not to mention potential verticals, over the next 1-2 years with near-term revenues imminent.
“The target of 240 accounts for 2014 measures to annual gross income of nearly $1.4 million,” states ADCS CEO, Thomas Wolff. “This is a monumental deal for all involved. I am sincerely impressed with our progress with much credit to Chairman, Mark B. Newbauer, who was responsible for bringing the parties together and has worked diligently on behalf of ADCS to bring us a Joint Venture that has already spawned additional opportunities for the JV moving forward.”
Executives from Advanced Content, GreenHouse and SinglePoint, Inc. represent the Board of GreenStar Payment Solutions, Inc. They are committed to being pro-active in cultivating new business and overall success for GreenStar. The team has combined expertise in marketing and sales, as well as the payments industry itself, to foster successful market penetration.
GreenStar Payment Solutions, Inc. will hold its first official Board meeting in Denver next month. GreenStar Payment Solutions, Inc. has already confirmed attendance at major Industry shows through 2014, which will be detailed via press release prior to each event.
Dispensaries and legal business owners in the MMJ sector- Find out how GreenStar can support you with superior business practices, competitive merchant service solutions and key revenue generators to improve your overall bottom line: [email protected]
About Advanced Content Services, Inc.
Advanced Content Services is a Holding Company focused in electronic payment services and solutions. Its wholly owned subsidiary, New Wave Prepaid Solutions, is in development of flagship product, Cannabis Card(TM), aimed to reward consumers and serve businesses in the medical marijuana markets. The company strives to be a leading contender in the issuance of prepaid solutions and services that are both highly marketable and with socially conscious profitability.
For more information see www.advancedcontentinc.com
About GreenStar Payment Solutions, Inc.
Founded in 2014, GreenStar Payment Solutions, Inc. provides payment and merchant solutions and services to Legalized Medical and Recreational Marijuana Dispensaries in the United States. GreenStar’s suite of services aims to provide dispensaries with a competitive advantage as a one-stop-shop for MJ business owners with solutions including Non-Cash Merchant Solutions, Prepaid Rewards Programs, Digital Marketing Menus and more — all of which can increase revenue and profitability. Headquartered in Denver, Colorado, GreenStar is a joint venture among Advanced Content Services ADCS -20.00% , SinglePoint, Inc. SING +15.38% and GreenHouse Payment Solutions, Inc. For more information, please email us at [email protected]
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
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Investor Contact: Thomas Wolff CEO [email protected] Retailer Inquiries Chris Mills [email protected]
SOURCE: Advanced Content Services, Inc.