Current Issues with this company. I see the problem with this company right now in several factors.
1) He had to spend his time alone in too many things such as law suits, client signups, financial audits, talking to banks, attending conferences which he needed additional hands who has considerable knowledge and expertise like him. Hence he loses focus and let the things slip thru.
2) Ed did not employ right/enough people or he did not set the aggressive expectations for his employees to work on deliverables. He tried to hide his staff inabilities and manage the show. Its easy to blame him but its tough to get right people with less salaries and with no revenue generation started.
3) He is busy in gathering clients than delivering a finished product and reaching out its partners to get the integration done. Should think about it now.
4) His move to acquire greenpay seems to have wasted lot of time in getting bank's trust as Fed's regulations to marijuana industry is not matured enough which is why he integration targets derailed.
5) He does not have enough money to get the wheels moving faster and he is not ready to use the Line of credit which is at higher interest rate. Although some people blame it as toxic financing, its understandable because securing a loan with better interest rate from a premier financial institution at this stage may be difficult as no revenues yet to prove the pay-ability. Many many big companies at present would have definitely gone through this phase in the past i believe except some lucky fellows.
6) Seergate may be a good acquire but it has been treated as an excuse either to cover his inability to release self developed app or to hide incomplete bank integrations. I also doubt another thing which i would post it in a sepeate post.