After a steep slide in early October, shares of GD Entertainment & Technology Inc. (OTCMKTS:GDET) have been back on the rebound in recent weeks and the company has been ramping up new catalysts and new lines of business to fuel the action. The latest move by GDET is its establishment of an agreement, announced this morning, to install and operate its first full-service cryptocurrency ATM. According to the release, the location is a large retail marketplace with high-volume foot traffic in Austin, TX where the company will provide the physical ATM as well as all related logistics involved in operating the ATM at the location.
“We truly love this line of business as a high-probability, high-ROI bet, and the installation of our first full-service crypto ATM is a huge step toward actualizing this extraordinary opportunity,” commented Anil Idnani, CEO of GDET. “While we cannot fully disclose the identity of the counterparty at this time, we can state that this is an ideal location in terms of foot traffic and cultural context. We have engaged a prominent, local retail solutions provider and a finalized agreement is expected within the coming days.”
GD Entertainment & Technology Inc. (OTCMKTS:GDET) trumpets itself as is a company that focuses on high growth industries to fulfill a diverse selection of premium products nationwide. The company operates in two basic segments: cryptocurrency mining/services and CBD-based products. Both segments are currently doing real business and will likely contribute to significant revenue growth over the next 3-month and 12-month periods.
The main factor in valuing the company right now, overall, is its crypto mining farm, which is running fully-owned top-tier miners, with all-in costs at $0.065/kwh.
The company’s HyperDigital Technologies subsidiary is the Cryptocurrency ATM business, which aims to secure multiple MSB, money services business, licenses in order to host ATM units throughout the country.
The DreamCard subsidiary specializes in fully customizable and premium quality credit/debit cards. The Cryptocurrency cold storage market has been forecasted to reach more than $15 billion by 2025.
The CBD Segment is operated through its subsidiary, The Greenery (thegreeneryco.com). The low-down on the Greenery is that it has a popular Honey Hemp CBD recipe that has evolved in partnership with a local “homegrown” honey supplier located in Florida. It also offers a number of other CBD-based products for both human and pet markets.
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As noted above, GDET just announced an agreement to place and operate its first full-service Crypto ATM as part of its HyperDigital Technologies subsidiary.
In essence, this is a business segment that harbors cash machines that allow you to withdraw dollars from your BTC account, or deposit dollars into BTC account designation – it’s a machine that conducts BTC-USD transactions. Analysts believe the crypto ATM market will reach $144.5 million by 2023 from $6.8 million in 2017, representing a CAGR of 54.7%.
Mr. Idnani continued, “This is not only a much bigger market than most people realize, but it’s also much more resilient. It’s extremely rare to have a market opportunity that offers both massive growth potential and low expected volatility of returns. The market for convenient cryptocurrency access and transactability is growing fast, and that’s unlikely to be impacted by macroeconomic factors. Once installed, we expect our first Crypto ATM location to be immediately profitable on an operating basis. We are already working toward establishing our second location.”
At this time, carrying a capital value in the market of $4.4M, GDET is pulling in trailing 12-month revenues of $53K. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 160%. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $GDET stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $GDET, either long or short, and we have not been compensated for this article.