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Saturday, September 24, 2022

A Look at 3Pea International Inc (OTCBB:TPNL)

3Pea International Inc (OTCBB:TPNL) recently made an explosive move up after the Company announced huge fourth quarter financial results that included $10.3 million in revenues, $2.6 million net income and diluted EPS of $0.06.

TPNL has been quietly growing their revenues for years with little interest from investors until the recent pop in price. The fact that 3Pea did $2,610,484 in net income up from $611,684 last year puts them in a small elite group on the OTCBB.

3Pea International Inc (OTCBB:TPNL) is an experienced and trusted prepaid debit card payment solutions provider as well as an integrated payment processor that has millions of prepaid debit cards in its portfolio. Through its PaySign brand, 3PEA designs and develops payment solutions, prepaid card programs, and customized payment services. 3PEA manages programs for many of the world’s largest pharmaceutical manufacturers with copay assistance products designed to maximize new patient acquisition, retention, and adherence.

3PEA’s corporate incentive prepaid cards are changing the way corporations reward, motivate, and engage their current and potential customers, employees, and agents. 3PEA’s customizable prepaid solutions offer significant cost savings while improving brand recognition and customer loyalty. 3PEA’s customers include healthcare companies, major pharmaceutical companies and source plasma providers, large multinationals, prestigious universities, and social media companies. PaySign is a registered trademark of 3PEA Technologies, Inc. in the United States and other countries.

Over the past few years, continued diversification and rapid expansion have been the hallmark of TPNL who is quickly becoming recognized in the industry recently sitting on the x-9 committee which developes standards for electronic payments alongside the likes of IBM, Diebold, First Data, KPMG, MasterCard, Melon Bank, Visa , Wells Fargo and the Federal Reserve

On March 25 TPNL reported financial results for the fourth quarter and full year ended December 31, 2014. 2014 Financial Highlights vs. 2013: Revenues increased 63% to $10.3 million. Gross profit increased to $5.6 million, or 54.8% of total revenue, compared to $2.2 million, or 34.9% of total revenue and Net income increased to $2.6 million, or $0.06 per diluted share, compared to $0.6 million, or $0.01 per diluted share.

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CFO Arthur De Joya said “2014 was a breakthrough year for our Company, as we experienced record revenue and net income. Much of this growth is attributed to the continued traction in healthcare reimbursement payments, pharmaceutical co-pay assistance programs, and donor payments for source plasma using our PaySign brand of prepaid debit cards. Using the PaySign Platform, we can quickly design and implement comprehensive solutions for a variety of industries that are customizable and cost effective for our customers.”

He continued ”We’ve also internalized our sales and marketing teams, which we will leverage to further penetrate the growing plasma industry, sign additional customers in the pharmaceutical space, and enter into new targeted verticals, such as automotive, retail and payroll, among others. This has resulted in the most robust pipeline of potential customers in our Company’s history.”

Recent operational highlights include: Launched the PaySign® brand of prepaid cards, which encompasses solutions for corporate incentives, payroll, public sector, pharmaceutical co-pay assistance, source plasma donations, general spend reloadable, and other market niches.

TPNL saw increased presence in the plasma donation payments space by signing The Interstate Companies and B Positive National Blood Services. At the end of 2014, the Company serviced 78 plasma donation centers, compared to 46 at the end of 2013. The company expects revenues from these centers to increase as they mature, and expects to add additional centers from its existing clients as they expand their operations.

The board of directors approved a 2.7 million share repurchase program. The Company has since repurchased and retired 2.4 million shares, or approximately 6% of the common stock outstanding, as part of a debt settlement totaling $0.7 million.

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Currently trading at a $24 million market valuation TPNL has $3.8 million in the treasury and manageable debt. Over the past few years the Company has been quietly building significant revenues and are now making money reporting $2,610,484 in net income for 2014. This stock has always suffered from lack of interest from Investors but that looks as if it’s changing fast with a recent influx of shareholders who are really excited here. We will be updating on TPNL when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with TPNL.

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Disclosure: we hold no position in TPNL either long or short and we have not been compensated for this article.

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