IFAN Financial Inc (OTCBB:IFAN) has been dropping steadily on accelerating volume after the stock reached a high of $0.62 in recent trading. Prior to this IFAN ran from the $0.20 mark where it started trading on the bb’s.
IFAN is a multi-million dollar promotion with a 15 page glossy hard mailer and a landing page at ifanreport.com which reports the compensation as: Mintefor Investments LTD paid three million and five hundred thousand dollars to marketing vendors to pay for all the costs of creating and distributing this Advertisement.
Shortly before the name change from Infantly Available Inc in September the Company affected a 140 for 1 split forward split of the stock in preparation for promo.
IFAN Financial Inc (OTCBB:IFAN) and its wholly owned subsidiaries design, develop, and distribute software to enable mobile payments. These include the ability to use a debit card and corresponding PIN number while purchasing online on a mobile phone, tablet, or computer. Using a PIN online does not send the user’s debit card data to the merchant, thus protecting the user’s information. Another product is Quidme, a platform being developed to enable peer-to-peer mobile payments using a smartphone or the text function of a standard phone.
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The promo landing page states: ‘My name is Don McShane. I’m an investment analyst and stock picker who specializes in undiscovered tech stocks. IFAN eliminates entirely the need for using credit card numbers… making it impossible for thieves and fraudsters to steal your information.
Don McShane. goes on to say ‘I can’t remember the last time I encountered an investment opportunity with so much upside potential and such limited down side risk. IFAN could single-handedly save the $1.2 trillion e-Commerce industry… and make early investors a fortune virtually overnight. It has the potential for becoming the next Paypal. And just as Paypal was bought within months of its IPO, I believe this company could very well be bought out as well. –
According to the 10q the Company filed in July they have $0 cash on hand, mounting short term debt and no revenues to date.
On May 15, 2014, the Company entered into a two (2) year License Agreement (the “License Agreement”) with IPIN Debit Network, Inc., a New Brunswick, Canada corporation (“IPIN”) for the former’s use and distribution of IPIN’s technology, systems and products in the nature of electronic payments processing and its United States Letters Patents. After the two (2) year period, the License Agreement shall be automatically renewable for successive one (1) year periods for an additional ten (10) years provided that IPIN has received a minimum of Five Million ($5,000,000) dollars in Royalty payments for each of the three (3) through twelve (12) successive years from the signing of the License Agreement.
On June 6, 2014, the Company signed the share exchange agreement (“Agreement”) with MobiCash America, Inc. D/B/A Quidme. The Company will acquire 100% of the issued and outstanding securities of QUIDME in exchange for the issuance of 43,000,000 shares of IFAN common stock, par value $.001 per share. The Company will fund $500,000 to support the continued development and commercialization of QUIDME’s technology. The Agreement is to be completed contingent on the financial audit of MobiCash America, Inc.
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Conclusion: IFAN is exploding upwards on accelerating volume on the $3.5 million promotion from Mintefor Investments. Hard mailers are hitting, the stock is skyrocketing on massive volume and the landing page is up and running sucking them in one by one.
Currently trading at a $35 million market valuation IFAN is priced to run and could go far considering the promotional budget. Short term IFAN looks great with nothing but green skies ahead. Long term this one might not fare so well once the promo dollars run dry and could drop big.
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Disclosure: we hold no position in IFAN either long or short and we have not been compensated for this article.