Business
Medical Cannabis Payment Solutions Prepares for Launch of State of the Art Industry Compliant Payment Processing System
Medical Cannabis Payment Solutions Prepares for Launch of State of the Art Industry Compliant Payment Processing System.
About this update from Medical Cannabis Payment Solutions
[{"type":"text","content":"\n\n Las Vegas, NV, June 06, 2017 (GLOBE NEWSWIRE) -- Medical Cannabis Payment Solutions (OTC Pink, REFG),  specializes in state-of-the-art financial services structured to serve the cannabis and banking industry, issues a shareholder letter to update investors on recent advancements, and how its emerging corporate vision continues developing.\n In March of last year, we mobilized to bring to market the first and only first-tier merchant processing operation of its kind; a comprehensive structure which tracks sales and tax collection, and empowers businesses with an outstanding state-of-the-art client management system through the development of “StateSourced,” a wholly-owned subsidiary structured to manage the development and marketing of our highly advanced proprietary industry specific payment processing system. Our StateSourced administration system is designed to be a robust, instrumental, closed loop merchant processing system, in response to the industry’s overwhelming need to have a private and encrypted digital solution to serve the rapidly growing legal cannabis industry. At this point, financial institutions have generally not been able to provide banking access to the cannabis industry. This is, in part, because financial institutions have not been able to integrate necessary due diligence requirements. StateSourced has developed a unique proprietary system to address these issues, and has committed to make 2017 an evolutionary year for the implementation of a financial structure for the advancing legal cannabis marketplace. Our forward-looking goals for the remainder of the 2017 Calendar year are as follows: Growing sales and profitability through solidifying agreements with dispensaries and medical related businesses in the cannabis industry. Partnering with public officials and government agencies to expand the medicinal cannabis legal landscape Strengthening management strategies to assist in the formation of an industry leading legal framework that will fortify financial security and structure in the rapidly developing medicinal marketplace. Developing and maintaining a profitability rate that is among best-in-class cannabis vendors, as measured by Adjusted EBITDA as a percentage of net sales, thus improving return on invested capital, and maximizing total shareholder return. Since the com...