ZOOMPASS HLDGS INC COM USD0.0001 (POST FWD SPL (OTCMKTS:ZPAS) is a fintech company who services consumers with a transaction platform, much like Paypal. Technology and finance are growing industry sectors and innovation gives a competitive advantage inside these two highly volatile industries. How does Zoompass differentiate itself from the rest of the pack?
Let’s grab our microscopes and zoom in this exciting micro-cap company.
ZOOMPASS HLDGS INC COM USD0.0001 (POST FWD SPL(OTCMKTS:ZPAS) focuses on e-payments, and have partnered with Canadian banks and even Visa and MasterCard. This obviously helps legitimize ZPAS as a serious player in the Fintech world; they even claim government and big businesses as users of their proprietary payment platform. One example of this is First Global Data, this is a huge client and the resulting deal was covered by the Canadian newswire on March 27, 2017 and said that:
“The companies intend to work together on a variety of initiatives including a) Jointly offering check 21 transaction processing services in the USA for Zoompass and First Global customers. Zoompass estimates the monthly processing volume for its client base to be in the $50 million range; b) Zoompass leveraging First Global’s US licenses and compliance capabilities to penetrate specific target demographics for cross border payment services; c) First Global utilizing Zoompass’ US prepaid card issuance capabilities to offer prepaid cards to its customers; and d) First Global leveraging the relationship Zoompass has with Canada Post to enable loading of First Global mobile wallets at approximately 6000 Canada Post and Shoppers Drug Mart locations across Canada.”
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$ZPAS 10-Day Chart Below:
Regarding their bottom-line financials, their (unaudited) Quarterly report ending March 31, 2017 is quite upbeat. Their report says:
“The Company was extremely pleased to report 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, 2016(iii). 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.”
Those are very optimistic numbers. However, a caveat must be given. Their quarterly report actually shows a net loss for $104,722 which was related to cash expense. Now it is normal for companies to have a net loss for the first quarter, but we want to zoom in on all relevant data for this company.
Readers should also note the OTC placed the Caveat Emptor symbol on the company profile as a result of the promotional activities that was disclosed in our Press Release issued May 9, 2017. As a matter of policy, when it has come to the attention of OTC Markets that a security has been the subject of promotional activities, OTC Markets may at its discretion label a security “Caveat Emptor.” Promotional activities may include newsletters, whether they are published by the company or a third party, as was the case here.
The bottom line ZPAS is going through some growing pains (which is not uncommon at this stage), and is still in ranging mode. RSI is at 52 showing neither bias for the bulls nor bears; Bollinger bands are also squeezing. This may show an accumulation phase for this stock and while there is volume from the previous trading day, it was not enough to break the support at 2.200 or the resistance at 2.37. It is recommended to put this stock on your watch list and we will update as new events transpire. For continuing coverage on shares of $ZPAS stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!