Moneyswap Share Discussion Threads

[flopinfo] 12/7/2013 10:11

So they announce that they have let a few million dollars walk out the door and they expect anyone to trust them with their money ?

[ukmassy] 12/7/2013 10:07

You go with your girlfriend Moreforus.

[ukmassy] 12/7/2013 10:07

RAMP IT TOPPY BABY! I ASSURE THAT WAS you with the 50K buy. No doubt you'll be out by 11:00am with a loss?

[topinfo] 12/7/2013 09:34

MoneySwap Plc Appointment of UK Sales Team
Print
Alert

TIDMSWAP

RNS Number : 2013J

MoneySwap Plc

12 July 2013

MoneySwap Plc

("MoneySwap" or the "Group")

12 July 2013

Appointment of UK sales team to roll-out payment processing services for China's largest bank card

and

prepaid card update

MoneySwap Plc (AIM: SWAP), the merchant acquirer and payment solutions provider licenced by China UnionPay ("CUP") for the UK, is pleased to announce the appointment of a sales team based in the UK. This is in line with the Group's strategy to roll-out its full service payment processing offering to enable UK merchants to accept payments from CUP cardholders

UK sales team

MoneySwap is licensed by CUP, China's largest bankcard payment processor, to act as a full service payment provider covering online, point of sale and money transfers for merchants in the United Kingdom. MoneySwap has developed a suite of payment gateways which interlink with CUP and receives a fee per transaction. These include UnionPay Online Payments, UnionPay Point of Sale Payments and UnionPay MoneyExpress. Following a comprehensive recruitment campaign, the Group has appointed a five strong sales team based in the UK. The team will target merchants and other retailers in the UK which regularly conduct business with visiting CUP cardholders and Chinese residents.

Suisse Black VISA pre-paid card

As announced on 21 December 2012, as at 30 September 2012 there remained an unrecovered trade receivable balance of US$1.7 million as well as US$2.2 million sales billed but not recognised. This sum relates to payment of subscription fees for the Suisse Black VISA pre-paid cards. A provision against the US$1.7 million was made on 30 September 2012 albeit management continued to pursue the collection of these funds. The Directors have now determined that there is no prospect that the outstanding balance will be recovered either in part or in full.

Richard Proksa, Chief Executive Officer of MoneySwap, said:

"With an experienced sales team now in place in the UK, we expect to secure our first contracts in the UK shortly. Given that there are over 800 million China UnionPay card holders and the number of Chinese visiting the UK every year is growing, the scale of the opportunity available to MoneySwap is clear."

- Ends-

For further information, please contact:

[topinfo] 12/7/2013 09:34

Very good news just out. Contracts coming soon too.

[johnspain] 07/6/2013 12:19

RNS

"The funds received under the Loan Facility are being used by the Group for general working capital purposes and preparing for the launch of its merchant acquisition service for China UnionPay. "

so, the launch is happening and they have the funds to do it!
this is seriously good news, market seems to be asleep.

[flopinfo] 07/6/2013 12:00

Tom Bulford comment :-

"I have also decided it is time to sell out of MONEYSWAP (SWAP). MoneySwap helps Chinese people to shop and transfer money abroad. It had reported revenue growth of 260% to $1.78m in the year to March. But the business is still making a loss and to make matters worse the unwelcome revelation that it is owed $1.75m by one party has still not be resolved. This was always going to be a risky play but this matter makes me feel very uneasy. This does not smell good, so SELL"

[flopinfo] 07/6/2013 11:59

Revenue for last 6 months : $13k !!! LOL

Admin Expenses $2,369,023

Loss $4,109,395

PMSL


Current Assets : 563,580
Current Liabilities : 2,658,862


Chances of a 'Suspended Pending Clarification of Financial Position' RNS ? High

[flopinfo] 07/6/2013 11:59

hxxp://www.moneyweek.com/investment-advice/penny-shares/penny-sleuth-why-i-dont-buy-chinese-stocks-on-aim-60618

Why I don't buy Chinese stocks on AIM

By Tom Bulford

Sep 18, 2012


Greg Rudd, the brother of the former Australian prime minister, once met a Chinese businessman who gave him some prudent advice.

"You tend to see the good in people, Mr Rudd", he started. "People like you. You laugh a lot. But you'll never make money in China with that attitude. You'll only be taken advantage of. People will trade off you. They won't pay you. The number one rule of doing business in China is this; never trust a Chinaman. Why would you as a foreigner trust a Chinese businessman when we as Chinese don't trust each other?"

Now that advice is pretty close to the bone. But I've said it before in Penny Sleuth – you have to be very careful when you invest in a Chinese company. The record of AIM-listed Chinese companies is simply awful. And with so many still coming to market, there is a real chance that many private investors will end up making some very expensive mistakes...

[dontshootthemessenger] 03/6/2013 20:16

Lying conmen have deserted the mug punters in this one

[monkey puzzle] 03/6/2013 10:05

People in other shares will always welcome a ramping P&D muppet like TOPS or M4US onto their boards as they want the shares to rise....they don't care or even know about their P&D history. But they won't like your posts and they think you are deramping rather than try ing to help them. Such is AIM.

[monkey puzzle] 03/6/2013 10:01

STG? I saw them pumping that one hugely lately....

[flopinfo] 03/6/2013 09:50

Lying pump and dump conmen getting what they deserve.

STG is the next one which should collapse. Death Cross and poor fundamentals.

[monkey puzzle] 03/6/2013 09:40

Tops strike again!

[29howard] 03/6/2013 09:21

Anybody seen topinfo or moreforus today, yet another pump and dumping heading
for possible 95% loss or suspension or delisting.

[notready] 03/6/2013 09:12

Sorry guys, I'm out of this.

Had second thoughts about the FD leaving and the oddity of the $1.7m revenue and subsequent card revenues not being recognised.

[whereareallthemugpuntersyachts] 01/6/2013 21:40

This looks primed for a big shellacking to the downside any day now IMO

[flopinfo] 28/5/2013 18:01

Is this heading down a plughole soon ?

Revenue for last 6 months : $13k !!! LOL

Admin Expenses $2,369,023

Loss $4,109,395

PMSL


Current Assets : 563,580
Current Liabilities : 2,658,862


Chances of a 'Suspended Pending Clarification of Financial Position' RNS ? High



Tom Bulford comment :-

"I have also decided it is time to sell out of MONEYSWAP (SWAP). MoneySwap helps Chinese people to shop and transfer money abroad. It had reported revenue growth of 260% to $1.78m in the year to March. But the business is still making a loss and to make matters worse the unwelcome revelation that it is owed $1.75m by one party has still not be resolved. This was always going to be a risky play but this matter makes me feel very uneasy. This does not smell good, so SELL"

[biomole] 22/5/2013 09:15

Woohoo!!! An RNS!!!!

[whereareallthemugpuntersyachts] 21/5/2013 18:15

Why I don't buy Chinese stocks on AIM

By Tom Bulford

Sep 18, 2012


Greg Rudd, the brother of the former Australian prime minister, once met a Chinese businessman who gave him some prudent advice.

"You tend to see the good in people, Mr Rudd", he started. "People like you. You laugh a lot. But you'll never make money in China with that attitude. You'll only be taken advantage of. People will trade off you. They won't pay you. The number one rule of doing business in China is this; never trust a Chinaman. Why would you as a foreigner trust a Chinese businessman when we as Chinese don't trust each other?"

Now that advice is pretty close to the bone. But I've said it before in Penny Sleuth – you have to be very careful when you invest in a Chinese company. The record of AIM-listed Chinese companies is simply awful. And with so many still coming to market, there is a real chance that many private investors will end up making some very expensive mistakes...

[whereareallthemugpuntersyachts] 21/5/2013 18:15

Tom Bulford comment :-

"I have also decided it is time to sell out of MONEYSWAP (SWAP). MoneySwap helps Chinese people to shop and transfer money abroad. It had reported revenue growth of 260% to $1.78m in the year to March. But the business is still making a loss and to make matters worse the unwelcome revelation that it is owed $1.75m by one party has still not be resolved. This was always going to be a risky play but this matter makes me feel very uneasy. This does not smell good, so SELL"

[whereareallthemugpuntersyachts] 21/5/2013 18:15

Revenue for last 6 months : $13k !!! LOL

Admin Expenses $2,369,023

Loss $4,109,395

PMSL


Current Assets : 563,580
Current Liabilities : 2,658,862

[whereareallthemugpuntersyachts] 21/5/2013 18:14

Fancy we could be close to a 'Suspension pending clarification of financial position' RNS here.

[29howard] 09/5/2013 23:58

Biolole

The pump and dump here ended over a week ago, the crooks from the topinfo thread
lead by moreforus dumped into the rise.