Mascot Ventures Inc (OTCMKTS:EMON) aka eMONEco Inc. continues to drift into oblivion on little volume or interest from investors. The stock was the subject of a significant promotion earlier this year that took the stock to highs well over $2 a share.
Before EMON ran the stock was trading as little as $0.12 last year after the name change from Mascot Ventures, Inc.
Mascot Ventures Inc (OTCMKTS:EMON) aka eMONEco Inc. is a mobile commerce business allowing payments and money transfers to be made through mobile phones, any mobile phone and not just smart phones.
According to EMON 10k, the mobile payments and mobile banking movements are the fastest growing movements in the financial services industry. These movements open up more traditional banking and payments opportunities to current and new markets, and also introduce new highly profitable business opportunities to those who deliver these services.
Mobile Monē is an innovative alternative to traditional paper payment methods such as checks and money orders. Mobile Monē has created the world’s first purely “mobile only” bank account in order to solve a growing financial service problem – a cost-effective met hod of delivering immediate electronic payment exchanges.
Mobile Monē is focused on user friendly, seamless mobile banking transactions. Users simply: 1) use their pre-paid card; 2) call via phone, or 3) send a message from their mobile phones to the Mobile Monē server. The server validates the transaction and transfers the funds or responds to the user’s request for account information. Mobile Monē is a payment intermediary service that facilitates worldwide e-commerce and m-commerce.
Mobile Monē also performs payment processing for online vendors, and commercial users, for which it charges a fee; thus, delivering the desired benefits of contactless payment without the need to impose costly Point-of-Sale (POS) infrastructure changes.
Mobile Monē sometimes also charges a transaction fee for receiving money. The market opportunity for our technology and service is tremendous and subject to a high growth trend. The mobile payments market was projected to exceed more than $600 Billion globally in 2013 . With over 200 million mobile devices in use today, in the United States alone, we are afforded an opportunity to make Mobile Monē services a “must have” service specifically designed for the segment of the market that has a well- documented need.
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Mobile Monē helps you embrace increasing demand for Person-to-Person payments and grow your customer base and revenue outside traditional methods.
Mobile Monē — the only multi-channel, P2P payments solution developed for financial institutions — lets your customers securely send money to anyone, anytime, anyplace, anywhere. Imagine the strength of your brand coupled with the power of a pioneering FDIC individually insured mobile bank account.
On May 20 EMON released an update, from the CEO and President, regarding corporate activities and direction.
The company recently completed the selection of its board of directors and has placed several key senior executives in positions, setting the stage for the next phase of our business growth and development efforts. This is an exciting time for the company as we continue to work diligently to solidify our place amongst the leaders in the electronic payments arena.
We expect to experience early success and generate steady revenue growth based on the uniqueness of our core product and service offering, “mobile monē,” and the rapid global demand and growth of the electronic currency market, which is expected to grow at an annual rate of 22% through 2017. In fact, the prepaid market specifically is expected to reach $822 billion by 2017.
The popularity of prepaid financial services is driven by its unique and practical ability to solve for almost any payment need. Uniquely, our mobile monē service greatly enhances consumer access across multiple communications channels and democratizes electronic payments for those outside the traditional banking system and provides a transparent, cost-effective alternative to cash and checks for both governments and businesses.
Currently trading at a $6 million market valuation EMON has just $2,000 in the treasury, rising short term debt and no revenues to date. While the Company sits at the ground floor of the mobile payments market EMON was the subject of a significant promotion earlier this year that is now long over. We will be updating on EMON when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with EMON.
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Disclosure: we hold no position in EMON either long or short and we have not been compensated for this article.