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Saturday, October 31, 2020

A Closer Look at IFAN Financial Inc (OTCMKTS:IFAN)

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IFAN Financial Inc (OTCMKTS:IFAN) is a micro-cap stock that has started to garner attention as the stock finally goes into some sort of bounce. For longer-term holders of the stock, even this recent 700% 5-day rally is little consolation, given that such investors are likely artifacts of a multi-million dollar hard mailer promotion from last year, and should now still be down by well over 99% on that investment. Context is important.

The recent move is not explained by any headlines or filings, and we haven’t stumbled across any new promotional material. One theory – and the most favorable for the company – is that we aren’t far from seeing Q3 numbers, and we will get our first whiff of sales growth on the back of PayX product licensing and processing fees. Traders will note just shy of 470% during the past week in terms of shareholder gains in the company, but this action is running counter to the larger trend in the name. That said, IFAN does have a history of dramatic rallies, and the stock has seen interest climb, with an increase in recent trading volume of topping 560% over what the stock has registered over the longer term.

IFAN Financial Inc (OTCMKTS:IFAN) bills itself as a company that designs, develops, and distributes software to enable mobile payments.

Its products include the ability to use a debit card and corresponding PIN number while purchasing online on a mobile phone, tablet, or computer, as well as peer-to-peer cash transfers. It has a portfolio of solutions, including mobile optimized white label solutions with the ability to facilitate on demand payments, autopay, proximity payments and marketing, and a proprietary linked debit cards.

The company’s white label enterprise solutions offer mobile banking products and mobile commerce products, as well as white label mobile wallet and payment solutions. It also provides prepaid card programs for businesses and consumers; and traditional financial services for merchants separate from the Platform or using select features from it.

The company was formerly known as Infantly Available, Inc. and changed its name to IFAN Financial, Inc. in September 2014. IFAN Financial, Inc. was founded in 2010 and is based in San Diego, California.

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One key piece of the puzzle hit in August, when the company announced that it had reported revenues of $268,294 from the license of its PayX product as well as processing fees.

Christopher Mizer, President and CEO of IFAN Financial, stated: “We are excited about our first significant revenue since we began commercialization of the IFAN Financial Payment Gateway and PayX Platform. This revenue reflects initial validation from the marketplace for a seamless solution designed for merchants. PayX is the first fully optimized, integrated mobile solution for merchants with an installed customer base. It gives businesses the ability to create a custom, mobile, online, and in-store commerce experience based on their customer’s defined needs using our mobile wallet, smart beacon technology, and payment gateway.”

Steve Scholl, CFO, added, “The PayX Platform offers an instantaneous method for processing transactions through a mobile device either online or via a physical device. The benefits to PayX merchants are lower processing costs, higher security, and a one-on-one interaction with their customer base. Additionally, merchants receive valuable, purchasing data from their customers which may be used for targeted marketing, loyalty, and promotional programs.”

Now commanding a market cap of $323K, IFAN has a small amount ($135.11k) of cash on the books, alongside total assets a bit less than $4.1M, which stands against an appreciable load ($1.17M) of total accumulated debt. Recent top line revenue growth has suddenly appeared, with over $260k taken in during Q2. That is very important, but the next input is clearly the big one. And it may well be predictions about this that are ultimately behind the recent pop. If the company made significantly more in Q3, then we will suddenly have a revenue growth curve to deal with here. That said, as it stands, this company is losing significant amounts of money as a result of current operations. But a new slate of numbers isn’t far off, and we might see something interesting start to take shape here. For continuing coverage on $IFAN stock and our other hot stock picks, sign up for our free newsletter now and get our next hot stock pick!

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