ZOOMPASS HLDGS INC COM USD0.0001 (POST FWD SPL (OTCMKTS:ZPAS) is coming off an amazing rally where shares more than doubled this year. This rally was supported by big volume and shareholders were a bit blindsided when the share price went from $1.50 to $3.75. The move coincided with little news to match the company valuation increase. Shares fell back to the $2.00 level shortly after and the company sent out a press release making note of the volatility. These are important steps for smaller companies in this lower market cap as everyone who invests here is always concerned about unwanted volatility.
Zoompass enables businesses to provide their customers with a number of open loop card choices including, gift card, incentive cards, check replacement cards and online virtual card accounts. ZPAS recently told investors: “While we support the rights of investors and market participants to publicly comment on our stock and the market generally, the Company encourages those interested in the Company to rely solely on information included in its press releases combined with its filings and disclosures made with OTCMarkets Group and the Securities and Exchange Commission, which is available on the SEC’s website. We thank OTCMarkets for their openness and consideration to the investors of Zoompass Holdings, Inc. and will continue to support the open and complete disclosure of information regarding the Company.”
ZOOMPASS HLDGS INC COM USD0.0001 (POST FWD SPL (OTCMKTS:ZPAS) followed up after inquiry to definitively state that it had no involvement with the creation or distribution of promotional materials. Additionally, the shares currently held by the company’s officers, directors and controlling shareholders are not registered.
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ZPAS also talked about fundamental news and announced that, through an existing sales agent agreement, it expects to receive commissions through an initial purchase order. The order is under the program for delivery of mobility products of just over 6,000 units. Additionally, ZPAS is also pleased to announce 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, ZPAS has delivered 50,000 prepaid cards through its distribution partner to select retail locations as a result of satisfactory demand from the initial program launch. Additionally, management is announcing a unique new program for a national consumer brand with an initial commitment of just over 50,000 cards, which is envisioned to utilize the Company’s financial platform.
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.”
ZOOMPASS HLDGS INC COM USD0.0001 (POST FWD SPL (OTCMKTS:ZPAS) is a exciting company with a unique place carved out in the Fintech space – As both a financial platform provider with divisions in, physical prepaid cards, financing enablement, and mobility products. ZPAS has a marketcap of 116.01M and hopefully the volatility in shares will fall away. When they do, Zoompass could see major top line growth, but it is important that they remain transparent to current and future shareholders. This alone goes a long way to settle volatility. We will keep an eye on any upcoming news in these shares and the sector itself. 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!