Basic Assignments
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Options & Settings
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Main Time Information
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Sorry, no photos available for this element of time.
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Notes:
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Meeting with Steve and Jeffrey Schultz. Jeff is a payment gateway guy. He knows the payment processor space very well. Here are some of my notes: - He helped early on with the RedFin payment stuff and network (POS - point of sale system). He also mentioned Kindcard. I haven't really looked into those pieces yet. - He is interested in fintech solutions that he wants to cross-pollinate (make things mutually beneficial) to join efforts. - Talking about relationships where the services can be supported. - Jeff was talking about Switch commerce (atm solutions). He feels like he has some key components and key relationships that he can bring to the table. - There were some talks on cannabis and non-cannabis solutions (both are totally valid). Most of the cannabis solution are tied in with a regulatory system per state. Along those lines, dealing with cannabis, there is a super deep level that is required for cultivation. Not many other products are trying to fill that need right now. There may be a sweet spot there. - Lots of talk about different levels for PCI compliance. - Integrating core payment platforms (core pay). This is Jeff's space. He loves this. Lots of talks about payment processing. Jeff sees a huge opportunity for a POS system or platform that could be integrated with existing hardware or create our own hardware package. This could and would include menu boards, kiosks, the whole package. - Deb payment package (processing and loading the wallet). - Looking for mutually beneficial relationships between the companies. - Lots of talk about making things simple for our clients. Basically, here's the processing and here's the POS and inventory control solution - everything as turnkey solutions or turnkey package. - We talked about chains (multiple stores) and how some of the POS units (from other companies) don't have the inventory control or accounting features. - If you can make money on the processing, you can lower the price on the software. - We have tons of pieces and features. We don't really have the hardware side, the full merchant processing pieces (we do it, we just don't own it and control those pieces), and the sales engine. - Jeff wants to create a software and processing division within their company. They would like to bring adilas under the Kindcard parent company. I need to look into that further. - Steve was saying that we've had offers of over $10 million for adilas. - We've spent lots of money on development. It is important to have a team who focuses on the whole (integrating things). Otherwise, it just becomes a bunch of disconnected stuff. - Jeff has a publicly trading company with over 2 million shares. He's taken some companies public before. Some light talks along those lines. - Steve would like to see a step by step on how this can (could) roll out. - We were talking about Jeff and his team learning all about adilas. Steve was saying that we use to offer 3-4 day classes just to show the new stuff. He said it could take two weeks with one person to really show you everything that the software can do. - We would like to see a term sheet from their internal legal department. Jeff was saying, we would still be controlling it, meaning adilas as a company. We would just figure out how the two companies could be mutually beneficial. Interesting meeting. |