PHOENIX, AZ--(Marketwired - Apr 10, 2014) - The company (PINKSHEETS: CEHC) has been in discussions with several manufacturers about supplying machines. Additionally, the company is evaluating locations in both the United States and Canada for the deployment of expected units.
Cephas has been exploring applications for money transfer licenses or ATM registrations in various states that require operators to be licensed.
As bitcoin gains traction to become a more widely accepted alternative currency, Bitcoin ATMs could become one of the most convenient distribution channels available to consumers for exchanging Bitcoin from and into cash.
Bitcoin, which allows people to send and receive payments within an entirely decentralized peer-to-peer network, has quickly become the most prominent form of "digital currency" in the world. While still in its infancy, the deployment of Bitcoin ATMs addresses some of the most significant challenges associated with exchanging cash for bitcoin in an easy, instant, safe and fully transparent way.
The company projects that its first machines will be in retail locations by July 2014.
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. The company's bitcoin businesses are currently at a preliminary stage and may not materialize in any meaningful fashion. These forward-looking statements are based upon current estimates and assumptions and are subject to substantial risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its Bitcoin business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.