UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934

 

Date of Report (Date of earliest event reported): February 1, 2021

 

GREENBOX POS

(Exact name of registrant as specified in its charter)

 

Nevada

 

001-34294

 

22-3962936

(State or other

jurisdiction of incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

 

8880 Rio San Diego Dr, Suite 102

San Diego, CA 92108

(Address of principal executive offices) (zip code)

   

(619)-631-8261

(Registrant’s telephone number, including area code)

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

 

☐

Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading Symbol(s)

 

Name of each exchange on which registered

N/A

 

N/A

 

N/A

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 
 

 

Item 8.01. Other Events

 

On February 1, 2021, GreenBox POS (the “Company”) issued a press release providing financial guidance for fiscal 2021 and announcing the details of a corporate update conference call the Company will be hosting on February 3rd. A copy of this press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

 

Item 9.01. Exhibits

 

(d) Exhibits

 

Exhibit No.    Description
99.1   GreenBox POS Press Release, dated February 1, 2021

    

     

 

 
 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

GREENBOX POS

 

 

 

Date: February 1, 2021

By:

/s/ Ben Errez

 

 

Ben Errez

 

 

Executive Vice President and Chairman

 

 

 

 

 

 

 

Exhibit 99.1

 

EX_223570IMG001.GIF

 

 

GreenBox POS Expects Revenues of at Least $45 Million and Net Income of at Least $18 Million in Fiscal 2021

 

Management to Host Corporate Update Call on Wednesday, February 3rd at 4:30 p.m. EST

 

SAN DIEGO, CA – February 1, 2021 – GreenBox POS (OTCQB: GRBX) ("GreenBox", the "Company"), an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions, has provided financial guidance for fiscal 2021. The Company will also host a corporate update call on Wednesday, February 3, 2021 at 4:30 p.m. EST.

 

Financial Guidance for Fiscal 2021

For fiscal 2021, GreenBox expects revenues of least $45.0 million and net income of at least $18.0 million. The Company expects both revenues and net income to accelerate throughout 2021, primarily as a result of additional client onboardings from early Gen 3 technology upgrades.

 

Management Commentary

“The growth trajectory of our gross processing volume during the fourth quarter and January provides the basis for our 2021 guidance. As previously announced, fourth quarter 2020 processing volume exceeded $100 million. Our guidance for 2021 assumes gross processing volume of at least $600 million and a 3% net margin” said Fredi Nisan, Chief Executive Officer. “As we look ahead, we will continue working towards executing upon our non-binding MOU to acquire ChargeSavvy, which would provide GreenBox the opportunity to enter the retail industry and be immediately accretive.”

 

Corporate Update Call

The Company will host a corporate update call on Wednesday, February 3, 2021 at 4:30 p.m. EST to discuss the Company’s current business model, growth initiatives and technology development, and conclude with a Q&A from participants. To participate, please use the following information:

 

Date: Wednesday, February 3, 2021

Time: 4:30 p.m. EST

U.S. Dial-in: 1-877-407-4018

International Dial-in: 1-201-689-8471

Conference ID: 13716088

Webcast: http://public.viavid.com/index.php?id=143395

 

Please dial in at least 10 minutes before the start of the call to ensure timely participation.

 

A playback of the call will be available through May 3, 2021. To listen, call 1-844-512-2921 within the United States or 1-412-317-6671 when calling internationally. Please use the replay pin number 13716088. A webcast will also be available for 30 days on the IR section of the GreenBox website or by clicking here: GreenBox Update Call.

 

Attendees are encouraged to submit questions prior to the call. Please submit questions no later than Tuesday, February 2, 2021 at 8:00 p.m. EST by emailing GRBX@mzgroup.us.

 

 
 

 

About GreenBox POS
GreenBox POS (OTCQB: GRBX) is an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions. The Company's applications enable an end-to-end suite of turnkey financial products, reducing fraud and improving the efficiency of handling large-scale commercial processing volumes for its merchant clients globally. For more information, please visit the Company's website at www.greenboxpos.com.

 

Forward-Looking Statements Disclaimer
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Examples of forward-looking statements include, among others, statements we make regarding: guidance relating to net income; anticipated customer onboardings; and expected operating results, such as revenue growth and earnings. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set out in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.

 

Investor Relations Contact
Mark Schwalenberg
MZ Group - MZ North America
312-261-6430
GRBX@mzgroup.us
www.mzgroup.us