MONITISE PLC (OTCMKTS:MONIF) continues to be in steep decline after trading for well over $1 earlier this year. MONIF is a stock with a history of big moves running from $0.50 to well over $1.25 last year.
MONIF is a world leader in Mobile Money – banking, paying and buying with a mobile device. Leading banks, payments companies, retailers and mobile networks utilise Monitise’s technology platforms and services to securely connect people with their money.
MONITISE PLC (OTCMKTS:MONIF) is the largest Mobile Money specialist in the world. We have a single-minded and realistic vision: to make money totally mobile across the globe. MONIF is working with over 300 of the worlds leading businesses and financial institutions across global territories to make the most of the opportunities this creates.
To Find out the inside Scoop on MONIF Subscribe to Microcapdaily.com Right Now by entering your Email in the box below
Already 28 million consumers benefit from Monitise’s patented technology to ‘bank anywhere’, ‘pay anyone’ and ‘buy anything’, accounting for $71bn of payments, purchases and transfers annually.
Back in June, MONIF acquired of an e-commerce promotion company called Markco Media Limited. MyVoucherCodes is a “leading voucher, coupon and discount deals site that works with 80% of the UK’s leading online retailers and counts Marks & Spencer, John Lewis, Debenhams, Thomson Holidays, Argos, Currys, Sky, B&Q, Tesco, Walmart, Target, Amazon, The Home Depot, and Carrefour as customers.
Recently the Company announced that it now had over 30 million users registered as customers on its bank, pay, and buy platform. The company went on to say that it expects to continue growing this number by 500,000 per month in the near future. These users have moved quite a bit of cash through the platform. Monitise reported an astounding $88 billion per annum running rate for moved/paid funds. This growth represents a 120% year over year increase for the company.
We have a Monster Pick Coming. Subscribe Right Now!
The initial consideration for the Acquisition is to be satisfied by the issue of 43,729,676 new ordinary shares of 1p each in the Company (“Ordinary Shares”), valued at £24.5 million, based on the closing share price of 56.0p on 25 June 2014, a further £2.5 million of consideration held back for two years, payable in Ordinary Shares, and an earn-out consideration of up to an additional £28 million payable in Ordinary Shares on the basis of retention and achievement of aggressive earn-out targets over two years. The business, which is expected to be EBITDA profitable in 2015 on a standalone basis, recorded EBITDA losses on a pro forma basis of approximately £0.4 million in the financial year to 31 July 2013.
MONIF continues to be one of the top traded stocks on the entire OTCBB after seeing a recent low of $0.432. Investors are hoping the reversal continues through and MONIF does not go lower than the $.431.
MONIF is a stock to watch here and deserves to be on investors watch lists here and it might just provide a spectacular trade opportunity in the coming weeks and months ahead!
Sign Up now for our 100% FREE Penny Stock Newsletter
Disclosure: we hold no position in MONIF either long or short and we have not been compensated for this article.