GLCP @ .41 announces Announces $9.24 Million
Purchase Order for 385 Check Central Automated
Check Cashing ATM Machines and Signing of Master
Distribution Agreement With National Distributor
SAN DIEGO, April 12 /PRNewswire/ -- Greenland Corporation (OTC Bulletin Board: GLCP - news) today announced the signing of a Master Distribution Agreement with SmartCash ATM, an affiliate of ATM International, Inc., and the receipt of a 1999 purchase order for $9.24 million.
The Master Distribution Agreement makes SmartCash ATM, LTD., the exclusive distributor for the Check Central Automated Check Cashing ATM in the United States and Canada. The Agreement provides that in addition to its initial 1999 order, SmartCash ATM is required to order 1,200 Check Cashing ATMs in the year 2000 and 2,000 Check Cashing ATMs in the year 2001 to maintain their exclusivity.
SmartCash ATM is a Dallas, Texas-based national distributor of ATM machines. The Company is also a nationally registered independent sales organization (ISO) for many ATM networks including Plus, Cirrus, American Express, Star and Honor. The Company has strong relationships and reseller agreements with major ATM manufacturers such as Diebold, Fujitsu, NCR, Triton and Tidel. It is responsible for the installation of over 2,100 machines in 41 states. Currently, their portfolio includes convenience stores, fast food restaurants, gas stations, hotels, office buildings, banks, bowling facilities, resorts and restaurants.
Randy Coleman, President of SmartCash ATM, stated that this Agreement brings together his Company's vast sales and marketing network, Greenland's proprietary automated financial services machine, and two strong professional management teams that are committed to building a quality product to meet the demands of the customer.
Greenland, through its wholly owned subsidiary Check Central, is the developer of an automated check cashing ATM machine that operates through proprietary software technology. The machine is currently capable of providing consumers with automated payroll check cashing, ATM, and money order services. Additional services that may be added are payday loans, bill paying, wire transfer, and on-line purchase services, making the Check Central system a ''bank-in-a-box.''
Dr. Lou Montulli, CEO of Greenland, said ''The Agreement with SmartCash ATM is a major milestone for the Company. Greenland, to this point in time, has only been involved in research and development stage projects. With three beta test machines in successful operation and the consummation of the Master Distributor Agreement with SmartCash ATM, Greenland will transition into a manufacturing phase and implement a business strategy that should provide a strong financial future for the
Company.''
SOURCE: Greenland Corporation |
