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Thursday, August 11, 2022

Todays Stocks in Focus is eMONEco Inc. (OTCMKTS:EMON)

Mascot Ventures Inc (OTCMKTS:EMON) aka eMONEco Inc. is making a big move up in recent days quickly transforming from illiquid to one of the top traded stocks on the entire exchange.

EMON looks like a significant promo in the early stages; the stock was trading for as little as $0.12 earlier this year after the name change from Mascot Ventures, Inc. and has exploded upwards since on no news and little investor interest as of yet.

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 October 28 of last year EMON announced it has reached agreement with TransCard® to provide account processing, card services, and prepaid product support services.

After much review and consideration, the Leawood, KS-based Company selected TransCard largely based on its ability to satisfy the company’s unique transaction processing and card service needs. Richard Knapp, Chief Operating Officer of eMONEco, Inc. stated, “We needed a processor who could complement the real-time payments and funds transfer capabilities of our mobile mone platform with proven real-time transaction processing notification capabilities and TransCard delivered. We also needed a partner that was sensitive to the card delivery needs of consumers and again TransCard delivered. TransCard also successfully integrated our first generation platform and this combined to definitely was a major factor for us.”

Greg Bloh, President of TransCard stated, “TransCard looks forward to helping eMONEco expand its product offerings and processing services through our proprietary technology platform. We have been involved in mobile payments for some time, and we are eager to work with eMONEco to bring new innovations to the mobile payments space.”

The Company said at the time that eMONEco, Inc. is set to make its mobile mone platform available to the market for the holidays.

Currently trading at a $102.7 million market valuation EMON has just $2,000 in the treasury, rising short term debt and no revenues to date. EMON looks like a significant promo in the early stages but how they are doing it is not yet known.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.

 

Ali Raza
A journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.

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