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GreenBox POS (NASDAQ: GBOX) announced a share buyback program approved by its Board of Directors, aimed at enhancing shareholder value. The buybacks will be conducted in the open market and will require Board consent for each round. Chairman Ben Errez stated that the current market value does not reflect the company's true value. They plan to fund these buybacks primarily through existing cash balances, ensuring minimal impact on capital levels. As of May 6, 2021, GreenBox had approximately 41.1 million shares outstanding.
GreenBox POS (NASDAQ: GBOX) reported remarkable financial results for Q1 2021, achieving revenue growth of 2,437% to $4.7 million compared to $0.2 million in Q1 2020. Processing volume reached a record $315 million, a 141% sequential increase. The company launched Generation3 software and partnered with Signature Bank for its smart-contract token technology. However, operating expenses surged to $12.5 million, leading to a net loss of $13.3 million or ($0.38) per share. GreenBox expects robust year-over-year growth as it continues to execute its business plan.
GreenBox POS (NASDAQ: GBOX) has announced its participation in the Q2 Virtual Investor Summit scheduled for May 17-18, 2021. The Chairman, Ben Errez, will present on May 17 at 2:00 p.m. Eastern time and will also hold one-on-one meetings with institutional investors. The Company specializes in customized payment solutions utilizing proprietary blockchain technology, aiming to enhance transaction security and efficiency. Registration for the summit is mandatory, and further details can be accessed through the Investor Summit Group's website.
GreenBox POS (NASDAQ: GBOX) has appointed Carl J. Williams to its Board of Directors to enhance governance and international payment expertise. Williams, with extensive experience in the payment industry, previously served as CEO & Chairman at Planet Payment, which operated in 55 countries. His leadership is expected to support GreenBox's strategy in global payment digitalization and token deployment. Chairman Ben Errez emphasized Williams' deep knowledge as crucial for the company’s expansion goals. This appointment aims to strengthen GreenBox’s position in the rapidly evolving payments landscape.
GreenBox POS (NASDAQ: GBOX) announced a record $315 million in transaction volume for Q1 2021, reflecting a 140% growth from Q4 2020's $131 million. The financial technology company leverages blockchain technology for customized payment solutions. Financial results will be reported on May 13, 2021, followed by a conference call at 4:30 p.m. Eastern Time. Investors can participate using a U.S. or international dial-in number. This release includes forward-looking statements and encourages investors to consider various risks and uncertainties.
GreenBox POS (NASDAQ: GBOX) announced the appointment of Dennis James to its Board of Directors to enhance governance and expertise in banking services, government relations, and acquisitions. Mr. James has over 45 years of experience in banking and M&A, previously serving as Executive VP at Bank OZK. His addition is expected to bolster the company's growth as it increases client adoption and processing volumes for its blockchain technology. Chairman Ben Errez emphasizes the strategic benefits of Mr. James's extensive background in mergers and acquisitions.
GreenBox POS (NASDAQ: GBOX) has announced a partnership with Armanino, a leading accounting firm, to conduct a SOC 2 audit. This audit aims to achieve compliance, demonstrating GreenBox's commitment to securing customer data and maintaining data system integrity. SOC 2 compliance is critical for technology and SaaS firms that manage sensitive customer information. Upon successful completion, GreenBox will enhance its capabilities to monitor security threats and safeguard client data.
GreenBox POS (NASDAQ: GBOX) announced its participation in the H.C. Wainwright Cryptocurrency, Blockchain & FinTech Virtual Conference on April 26-27, 2021. Chairman Ben Errez will present the company's overview, growth strategy, and upcoming token deployment, with on-demand access starting April 27 at 7:00 a.m. ET. Investors can register for the conference and schedule one-on-one meetings with Mr. Errez for further insights into GreenBox's innovative payment solutions, powered by proprietary blockchain technology, aimed at enhancing security and efficiency.
GreenBox POS (NASDAQ: GBOX) announced a partnership with Elliptic to enhance its anti-money laundering (AML) monitoring systems for cryptocurrency transactions.
This collaboration aims to strengthen compliance and boost transaction monitoring capabilities, addressing financial crime in the crypto sector. GreenBox's CEO emphasized the importance of this integration for ensuring secure and efficient settlement across different currencies. Elliptic's tools will help identify high-risk transactions and ensure robust audit trails, allowing GreenBox to scale its compliance efforts effectively.
GreenBox POS (NASDAQ: GBOX) has appointed Ben Chung as Chief Financial Officer and Bryan Rowland as Head of Risk Management. Chung, with over 22 years in public accounting and financial industries, has previously worked with GreenBox on contract, aiding in public filings for its NASDAQ uplisting. Rowland brings 18 years of experience in fraud protection and risk management. CEO Fredi Nisan highlighted their expertise will enhance GreenBox's financial controls and risk management to support the company's growth in blockchain payment solutions.
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