JACKSONVILLE, FL--(Marketwired - Jan 13, 2015) - Sunset Capital Assets, Inc. (OTC: SSBN) announced today that the Company has entered into a Joint Venture Agreement with the Dakshidin Corporation (OTC: DKSC).

"We are thrilled that, with Sunset Capital onboard, we now have a partner with the background, skills and contacts to implement our technology on the highly regulated financial industry side of the equation," said Dakshidin CEO J. Mark Seaton. "The pieces we need to make this venture successful are now falling into place. We are encouraged with the long term prospects for the company and its shareholders."

Under the terms of the agreement, Dakshidin will deploy and manage its recently acquired technology platform that will allow the company to offer a wide variety of financial products and services including:

  • A General Purpose Reloadable Debit Card (GPR -- a bank account on a card)
  • Scoot (Patented Mobile Money Transfer Service)*
  • Payday advance
  • Micro loans
  • Remittances

Bert Watson Jr., CIO of Sunset Capital Assets, stated, "As a management team with over 75 years of banking and Investment Banking experience, we immediately understood the value and potential of the technology Dakshidin had acquired. We recognized the synergy between the two companies and will partner with Dakshidin to help deploy this technology and fully participate in this potentially very lucrative and exciting opportunity. We are looking forward to continuing to build upon this strong and fruitful relationship going forward."

According to the terms of the joint venture, Sunset Capital Assets will serve in multiple capacities intended to facilitate a variety of business and financial opportunities. The group will tap its current business relationships, government contacts, and banking industry contacts to secure Investment Banking services to facilitate the launch of the joint venture. Sunset also announced that it intends to incorporate Dakshidin technologies into the international banking platform it is currently developing.

In June of 2014 Dakshidin announced it had concluded its first strategic asset acquisition; a state of the art proprietary electronic payment platform from The Tyburn Group Inc. based in Northern California.

The prepaid and debit platform allows Dakshidin to offer an end-to-end solution supporting all aspects of card issuing services.

Key features include:

  • Automated Application Processing
  • Customer Relationship Management
  • Product and Service Management
  • Card Management
  • Statistics and MIS Reporting

The product is ideal for that segment of the population (unbanked/underbanked) who either do not qualify for or have no desire for a traditional bank account. The estimated size of the market in the US alone is currently estimated to be between forty and fifty million people and expanding.

The platform also provides a potential solution to a recognized problem facing the legal medical marijuana industry as it allows customers to pay for their prescriptions using a closed loop card issued and managed by Dakshidin thereby alleviating the current situation whereby dispensary owners, due to their inability to accept credit cards, are forced to keeping large amounts of cash on their premises.

Scoot* is a mobile application that allows ANY cell phone to be used for making direct money transfers through SMS text messaging without having to use a bank account. The Scoot platform is compatible with any stored-value or debit card network (MasterCard/Visa). Debit Cards are currently accepted at over 23 million merchants and ATMs in 210 countries. Users can simply purchase a reloadable stored-value debit card from Scoot.com which will link their cell phone number to that card. Scoot users can manage their card accounts and send money from one stored-value debit card to another using text messaging with their cell phone numbers as the unique identifier. Transferred funds can immediately be used by the recipient in the same way as any other debit card.

About Sunset Capital Assets

Sunset Capital Assets, Inc. is a boutique, global investment and advisory firm headquartered in Jacksonville, FL and well capitalized with assets valued in excess of $500 million. Founded in 2012, the right combination of values, intellectual capital, and financial resources defines Sunset as a firm positioned for significant growth. Sunset takes a pioneering, consulting-based approach to corporate equity investing, partnering with management teams to build class-leading businesses and improve their operations. Since inception, the firm has extended this approach across asset classes and seeks to build one of the strongest organically grown alternative asset platforms in the world. Further information is available at www.sunsetcapitalassets.com.

This press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Our forward-looking statements express our current expectations or forecasts of possible future results or events, including projections of future performance, statements of management's plans and objectives, future contracts, and forecasts of trends and other matters. Forward-looking statements speak only as of the date of this filing, and we undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur. You can identify these statements by the fact that they do not relate strictly to historic or current facts and often use words such as "anticipate", "estimate", "expect", "believe," "will likely result," "outlook," "project" and other words and expressions of similar meaning. No assurance can be given that the results in any forward-looking statements will be achieved and actual results could be affected by one or more factors, which could cause them to differ materially. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act. This release does not constitute a solicitation of any kind.

Contact Information:


Investor and Media Relations Contact
Jeffrey S. Betros
Sunset Capital Assets, Inc.
Tel: +1.904.436.6217