ZOOMPASS HLDGS INC COM USD0.0001 (POST FWD SPL (OTCMKTS:ZPAS) is a financial services technology company with a unique place in the Fintech (finance technology) space as both a financial platform provider with divisions in physical prepaid cards, financing enablement, and mobility products. Zoompass provides businesses and government tailored solutions to help digitize their financial transactions.
Over the past couple of weeks since we lasted talked about this stock, the company has issued a couple of PR updates that we wanted to relay on to our readers, one of which is a quarterly report, which puts the company a step closer to having its Caveat Emptor status on OTC Markets removed. The ‘skull and crossbones’ is also used when questionable promotional activity has occurred in a stock as well, so there’s no solid date for when to expect OTC Markets to remove the sign.
ZOOMPASS HLDGS INC COM USD0.0001 (POST FWD SPL (OTCMKTS:ZPAS) posted a corporate update last week, that alluded to an existing sales agent agreement, through which it expects to receive commissions through an initial purchase order under the program for delivery of mobility products of just over 6,000 units.
Additionally, the Company also announced that through a separate agency agreement it expects to receive commissions through a commitment of 5,000 wireless routers over a 12 month period.
In a separate transaction, Zoompass delivered 50,000 prepaid cards through its distribution partner to select retail locations as a result of satisfactory demand from the initial program launch, as well as announcing that it has invoiced for a unique new program for a national consumer brand with an initial commitment of just over 50,000 cards.
Steve Roberts, President, commented, “We are extremely delighted in the advancement of our mobility products solutions and believe the Company is well positioned to take advantage of seasonally stronger sales in the second half of the year. We are also extremely pleased with the developments on the prepaid cards solutions and look forward to the additional revenues generated from the additional prepaid cards entering into the marketplace.” . (Source: Marketwired)
This week, ZPAS filed its Q1 financials, and despite net losses there were some positive takeaways. The Company reported a positive trend in net revenue which was up 191% in the first quarter of 2017, compared with the net revenue for the quarter ended December 31, 2016 and 290% compared with the quarter ended September 30, 2016iii.
The Company believes that the increasing trend in net revenue was a result of the Company’s efforts to gaining traction in the Company’s prepaid card solutions as well as revenue from the launch of the Company’s mobility solutions. The Company believes that additional traction from the mobility solutions, the launch of the Company’s Mobile Money Platform and the business from the previously announced agreements should continue to drive the Company’s results for the months ahead. (Source: Marketwired)
While all these developments within the business have been going on, the ZPAS chart has seen a rebound after consolidating off of a huge move that ran from the beginning of April through last week. It’s got just the type of volatility that swing traders look for all day long. We’ll keep up with ZPAS and you can keep up with us! It’s not hard to follow the news on ZPAS, and you don’t have to sit in front of your computer screens all day. All you have to do is subscribe to our free newsletter, by entering your email address into the box below. Following that, we’ll send you updates, if any, on ZPAS.
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