Pennybuster
4 years ago
GPLS Announces "DOKT," Dollar-backed Stablecoin, as Basis of Cannco Financial Ecosystem for Cannabis Companies
Print
Alert
GPLS Announces "DOKT," Dollar-backed Stablecoin, as Basis of Cannco Financial Ecosystem for Cannabis Companies
Now approved to accept cash deposits represented by DOKT tokens
Coin serves as means of exchange for cannabis products and services between industry suppliers and purchasers
Partnering custodial trust has created the process to issue, transfer and manage tokens that underpin Cannco financial ecosystem
Separate Canncoin security token allocated to recent investors will be issued upon registration of security token with SEC
Token allocation notifications have been delivered to participants in 2018 crowd funded offering
Los Angeles, CA -- December 11, 2019 -- InvestorsHub NewsWire -- Geopulse Exploration, Inc. (dba Cannco Brands and Development) (OTCMKTS: GPLS), a blockchain-powered logistics, financial services and promotion solutions development company for the under-serviced cannabis sector, today announced completion of approvals and establishment of a dollar-backed stablecoin, which will form the basis of the Cannco merchant services and financial platform.
As previously disclosed, the Company has entered into an agreement with a custodial trust that has completed the infrastructure required to issue, manage, and track the cryptocurrency that will represent the merchant transactions that occur using Cannco financial services.
DOKT tokens are distinguished from Canncoin security tokens that will be registered with the SEC and issued to Cannco investors from prior and current offerings representing proportional ownership in the company and entitlement to economic participation in Cannco profit. All investors have received notification of their specific Canncoin allocation.
When a Cannco participating merchant conducts a transaction on the platform, tokens will be minted and placed into the account by the custodial trust and will serve as a dollar-backed, digital representation of cash in the depositor’s account. The cash may be retrieved through “cashing out” via a wire to the account holder from the trustee or may be used for additional purchases of products or services from other platform users.
“We’ve been working closely with our custodial trust partners developing the framework of the process and cryptocurrency core of the platform,” commented Marcus Laun, Geopulse Exploration CEO. “Achievement of the ability to accept deposits and process transactions is a milestone that allows us to accelerate development of the merchant services which will extend from the platform.”
The Company plans on launching a beta version of its merchant processing service, and on accepting its first cash within the first quarter of 2020.
About Geopulse, DBA Cannco Brands
Geopulse Exploration, Inc. (OTC PINK: GPLS) develops a blockchain-powered logistics, financial services and promotion platform for the unbanked, early-stage and explosive growth U.S. and Canadian cannabis sector. Among its assets (or pending acquisitions) are THCFinder.com, a 300,000-user geo-finder app for cannabis dispensaries and MMJ medical offices throughout the U.S., and CannCoin, a native token underlying a distributed ledger logistics and financial services ecosystem for cannabis. Cannco Brands intends to provide commercial services such as transparent supply chain management, business banking and merchant processing, trade finance, direct-to-consumer engagement solutions.
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Geopulse Exploration, Inc. cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates, and assumptions made by management. Actual results could differ materially from current projections or implied results. Geopulse Exploration, Inc. undertakes no obligation to revise these statements following the date of this news release.
Contact:
Marcus Laun
CEO
(323) 300-4550
145 S. Fairfax Av #200
Los Angeles, CA 90036
marcus@canncoin.io
Pennybuster
4 years ago
Geopulse Exploration (dba Cannco Brands and Development) Delivers Corporate Update
Mon, 25 Nov 2019 13:27 GMT | GlobeNewswire | Symbol: GPLS
Corporate, Financial, Commercial, and Development Matters Discussed
LOS ANGELES, CA, Nov. 25, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Geopulse Exploration (dba Cannco Brands and Development) (OTCMKTS: GPLS), a blockchain-powered logistics, financial services, and promotion solutions development company for under-serviced cannabis sector companies, today provided an update and 2020 objectives on corporate, financial, tech development, and commercial matters.
Corporate and Finance
In order to provide the financial and organizational structure to sustain our ambitious development and commercial growth plan, our immediate objectives are corporate and financial in nature.
Low-Cost Growth Capital
The Company has completed the legal, banking and compliance requirements for, and intends to launch in November, a crowdfunded offering of up to $2,000,000.
Pending release of the specific price and terms, expected later this month, we expect them to be similar to the crowdfunded raise of $750,000 with roughly 900 investors earlier in 2019 at a price of $0.10 per unit of a share and participation token (Canncoin).
Management believes the success it achieved in terms of low cost of capital in that raise will be scaled and replicated in this new offering.
We are confident in our ability to expeditiously and efficiently wrap-up this offering, also within the first half of 2020, if not in the first quarter.
We currently have roughly 1500 shareholders and are more committed than ever to accessing growth capital with the least dilution.
Gain Full Reporting Status
In other corporate matters, we intend to prioritize delivering the audited financials that will deem us current and fully reporting, a designation that will provide us with access to higher demand for our equity from a vastly larger pool of investors.
We are currently evaluating auditing firms and plan to proceed with that initiative in January, with an intention to gain current status within the first half of 2020.
Name Change
We will also be pursuing a name change from Geopulse Explorations as well as a ticker symbol change to clarify our corporate brand, an effort we plan to complete also within the first half of 2020
Product Development
Our mission is to develop and sell advanced financial, compliance and marketing products that solve debilitating business obstacles for cannabis sector companies that restrict their growth and profitability.
Our products and services are planned to include:
Payment Processing
Cannabis Banking
Business Loans
B2B &B2C Marketplace
Consumer Education
Web & Mobile Solutions
FDIC Insured Crypto Stablecoin
Automated Compliance
Automated Billing
Automated Taxes
Blockchain Transparency & Tracking
Cannabis Branding & Marketing
Such products will benefit from the immutable documentation and tracking capabilities of blockchain technology and financial security of an asset-backed, “stablecoin” pegged to the dollar.
The benefits of this design are two-fold:
An asset-backed token gives potential market participants confidence they can redeem their stablecoin for cash
A stablecoin will not change in value.
During 2019, we made important and valuable advances in the core financial features of our blockchain-based tech platform.
During this period, we completed the design of the financial system architecture that will underpin these products.
Development of the software has commenced and we intend to advance it to “alpha” or testing stage within the first quarter of 2020, with entry into beta stage, where we sign initial users, within the first half.
Key Approval Obtained
After a long period of evaluation and due diligence, in June of 2019 we were finally approved by an FDIC insured custodial trust company that will allow us to begin processing and completing transactions.
M&A
During the year, we were able to complete the acquisition of one of the first apps in the dispensary geo-location space, one with a following of over 200,000 consumers, THCFinder.com.
Our intention is to rebuild and repurpose the site and community to support the Cannco ecosystem and stakeholder community.
In June we acquired Rich Pharmaceuticals (OTMKTS: RCHA) in order to gain us even greater financial flexibility and options.
Effect of Federal Cannabis Legalization
We are confident that given the extensive regulation and compliance requirements in place at state levels and the need for provenance and supply chain tracking and specialized banking and merchant processing, we expect a removal of cannabis as a Federal Schedule 1 Controlled Substance, will have limited effect on the demand for our services.
Summary
The importance of Cannco’s platform will be its facilitation of interactivity and reduced friction between retail brands, growers, consumers, financial institutions, and regulatory agencies.
We are pleased with our progress during 2019 and we look forward to growing our value as we develop our platform and ramp commercial activity in 2020.
About Geopulse, DBA Cannco Brands
Geopulse (OTC PINK: GPLS) develops a blockchain-powered logistics, financial services and promotion platform for the unbanked, early-stage and explosive growth U.S. and Canadian cannabis sector. Management is comprised of tech and finance veterans with strong product management experience. Among its assets (or pending acquisitions) are THCFinder.com, 300,000 user geo-finder app for cannabis dispensaries and MMJ medical offices throughout the US; CannCoin, a native token underlying a distributed ledger logistics and financial services ecosystem for cannabis; revenue-generating StonerDays.com, an online D2C lifestyle community with 700,000 followers. Cannco Brands intends to provide commercial services such as transparent supply chain management, business banking and merchant processing, trade finance, direct-to-consumer engagement solutions.
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Geopulse Exploration, Inc. cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates, and assumptions made by management. Actual results could differ materially from current projections or implied results. Geopulse Exploration, Inc. undertakes no obligation to revise these statements following the date of this news release.
CONTACT: Contact:
Marcus Laun
CEO
(323) 300-4550
145 S. Fairfax Ave #200
Los Angeles, CA 90036
marcus@canncoin.io
Register to chat with like-minded investors on our interactive forums.
PennyStockTrader2
2 years ago
Chartmaster
3 years ago
texas_gal
3 years ago
b4ucry
3 years ago
Flanker7
3 years ago
CashCowMoo
3 years ago
maddog 20/20
4 years ago
MegaDeath
4 years ago
Golden Cross
4 years ago
Hot Features
Premium
