Earlier today, Gold Coast Mining Corporation announced that it will officially launch it’s newest product offering, MJ-Merchant.
Just over a week after successfully launching MJ-Xchange.com (fully documented post-launch and pre-launch), GDSM has announced the upcoming release of their merchant bank card service for the marijuana industry, MJ-Merchant. The legal/medical marijuana industry has faced much adversity, with one of the greatest being the inability to accept credit and debit cards (MJ-Merchant will be able to accept Visa, MasterCard, Discover and American Express). Dispensaries are at the heart of this issue; with being forced to operate as a cash-only business, dispensaries have been unable to reach their potential in sales and have also been the target of crime.
MJ-Merchant is expected to be released next week, for interested companies to apply online (including dispensaries). As part of Gold Coast’s agreement with its financial partner, the Company will participate in the revenues from each established account on an ongoing basis. – Marketwired GDSM will also be directly contacting companies to offer this service.
“The launch of MJ-Merchant is another avenue for the Company to add revenue and profit. As the industry grows, it needs infrastructure, and I believe we are providing a valuable piece in this offering. I look forward to rolling out additional revenue generating products in the very near future.”
– Michael Shea, CEO of Gold Coast
What does this mean for GDSM? Following the successful launch of MJ-Xchange, Gold Coast saw a drop in it’s price per share. Although the website met and exceeded the expectations of many, investors saw this event as a good point in time to sell. This news is something that shareholders have been dreaming about; a potential revenue machine. With the company expected to make a small fee off of every transaction (similar to all other merchant bank card services), GDSM would be creating revenue daily. With the current PPS being $0.008, at close today, we see GDSM being traded at a bargain rate. GDSM is once again following through on it’s promises to the public and it’s shareholders, and this is due to the companies commitment to excellence that we have mentioned in the past.
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