POMPANO BEACH, Fla., March 3, 2014 /PRNewswire/ -- Solpower Corporation (OTCPink:SOCR) today announced that it has filed the appropriate documents with the state of Nevada to change the company name to Bitcoin Collect, Inc. The change is set to become effective on March 27th, 2014, giving time for the proper FINRA, and Transfer Agent notifications to be made. This announcement comes just weeks after the company announced its entrance into the virtual currency industry, setting it up to become the premier billing platform for the Medical Marijuana industry, as well as many others.
Because of the uniqueness of the company's main billing platform called Medcare Collect, adding Bitcoin, was a natural fit. Medcare Collect quickly developed into a full-scale Bitcoin transaction platform, allowing Solpower to become a Bitcoin merchant processor, a role similar to the one a bank takes in traditional payment processing. Bitcoin is a virtual currency that is not restricted by any government, and operates outside the traditional banking system. The new system called Bitcoin Collect is designed with medical marijuana dispensaries in mind, and has been tested with very positive results. The system allows individuals to pay for products and services securely and anonymously, which is a major problem with the current platforms being used in the Medical Marijuana industry.
Solpower CEO, Charles Neinstedt explained, " It was the overwhelmingly positive feedback and flood of interest from the industry that has prompted us to change our name. There's no doubt that Medical Marijuana use is spreading across the nation, but a stigma will be associated with it for decades to come. At the same time, Bitcoin has started to dominate the news and according to many experts, it is the perfect way to avoid that stigma completely. We believe that Bitcoin will be as popular a global currency as the US Dollar some day, and we aim to become the biggest virtual currency payment processor in the world." The company also wishes to make it clear that the system does not in any way aim to circumvent laws or regulations. The system simply allows a level of privacy, security, and portability never before available in any industry.
On a broader note, the company wants to relay to shareholders that Solpower's strategy is to build a profitable and successful company, and so far the company has needed little outside capital. For that reason Solpower assures shareholders that there is no need for expensive financing or damaging dilution. The company aims to keep the current share structure in tact, and could possibly never need additional funding. Future plans also include audited financials, and becoming an SEC reporting company as soon as it is practical.
Solpower Corporation owns and operates a software company that designs innovative solutions to problems that plague industries globally. Its products include Medcare Collect™, a healthcare billing system that allows patients to pay off medical bills over time with no credit check, and Bitcoin Collect™, a similar system using virtual currency to protect the privacy of both merchants and patients.
DISCLAIMER This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.
SOURCE Solpower Corporation