News

Greenland installs new check-cashing model

November 29, 2001

CARLSBAD, Calif. -- Greenland Corp. has installed its first MAXcash Automated Banking Machine check-cashing machine at a Mr Ship N' Chek, a Nevada-based financial services retail chain. The company's new Check Central Solutions product line was introduced in October.

Greenland activated the first machine Nov. 9, and will install two additional machines already sold to the 10-store chain. Greenland trained store personnel on the use of the new machine.

In a company news release, president T.A. "Kip" Hyde Jr. said he was pleased with the initial reaction of store personnel to the new equipment, and expects to expand the service to other locations.

The self-service machines are designed to complement existing services for check cashing providers. When the sale of three new machines was announced by Greenland Oct. 11, the company announced that the Mr Ship N' Chek purchase, which included a two-year software support and maintenance agreement, amounted to $56,000.

Greenland, a public company which trades on the OTC board (GLCP), has seen its stock price drop from a 2001 high of .42 in January to just .01 recently.