Sunstock Inc. Announces Update on Plans to Accept Ethereum
Sunstock Inc. (OTC: SSOK) has announced plans to accept cryptocurrency payments, specifically Ether, for its precious metals transactions starting June 2021. The move aims to attract more clients, increase revenues, and reduce processing fees. Legal counsel is currently setting up the necessary infrastructure to implement this payment option at Mom's Silver Shop in Sacramento, California. CEO Jason Chang expressed confidence in the demand for precious metals and the potential of integrating digital assets into the company's business model.
- Plans to accept Ether payments for gold, silver, and rare coin purchases, potentially increasing revenue.
- Legal counsel is established and working on efficient implementation of cryptocurrency transactions.
- Uncertain execution timeline for cryptocurrency integration could lead to delays in revenue generation.
- Risks associated with cryptocurrency market volatility may impact sales.
SACRAMENTO, Calif., March 03, 2021 (GLOBE NEWSWIRE) -- Sunstock Inc. (OTC: SSOK), involved in the buying, selling and distribution of precious metals, today announces that its legal counsel is establishing the procedures necessary for the Company to use the Ethereum network as a payment option.
As previously announced, Mom’s Silver Shop, located in Sacramento, Calif., in coming months will allow investors and customers to make transactions using Ether. Sunstock’s legal team is managing the setup and execution of the new payment method, which Company management believes will increase revenues, reduce processing fees, and attract more clients.
“We are pleased to announce that we remain on track to accept certain cryptocurrency for gold, silver and rare coin purchases beginning in June of 2021,” stated Sunstock CEO Jason Chang. “Our legal counsel is diligently working to ensure we are efficient, prepared and capable of offering flexible payment options to our customers and investors. Demand for precious metals remains strong, and as we continue to build our inventory of gold and silver, we are also anxious to open a new revenue stream and integrate digital assets.”
About Sunstock Inc.:
Sunstock Inc. (OTC: SSOK) is involved in the distribution of precious metals, primarily gold. The Company pursues a “ground to coin” strategy, whereby it uses its wholesale and retail channels to sell these precious metals primarily through its own branded coins. For more information, visit the Company’s website at www.SunstockInc.com
Forward-Looking Statements
In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to differ materially from any forward-looking statement.
Contact:
Mr. Jason Chang, CEO
Enquiry@SunstockInc.com
916-860-9622
www.SunstockInc.com
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