Textmunication Holdgings Inc (OTCMKTS: TXHD) continues to drop farther in recent weeks on light volume and no interest from Investors. Everyone remembers the huge run this one made in September of last year to highs of $1.89 per share.
TXHD put out big news recently when they announced the Company has started the application process to be quoted on the OTCQB exchange within the next few weeks. The Company believes the move to the OTCQB will provide substantial investor benefits including higher reporting standards, enhanced access to analyst coverage, increased Market Maker presence and comprehensive compliance requirements.
CEO Wais Asefi commented: “We anticipate our trading on the OTCQB will increase our visibility with investors and broker-dealers. Uplisting to the OTCQB will be a significant milestone for the company as it provides shareholders and potential investors with greater transparency, liquidity and exposes Textmunication to institutional investors and Market Makers that don’t typically participate in Pink Sheet companies. This is the first step to our anticipated listing on the OTCQX or NASDAQ market.”
Textmunication Holdgings Inc (OTCMKTS: TXHD) bills itself as an online mobile marketing platform service that will connect merchants with their customers and allow them to drive loyalty and repeat business in a non-intrusive, value added medium. For merchants it provides a mobile marketing platform where they can always send the most up-to-date offers/discounts/alerts/events schedule, such as happy hours, trivia night, and other campaigns. The consumer can also access specials and promotions that merchants choose to distribute through Textmunication by opting in to keywords designated to the merchants keywords. Allowing consumers to take their information wherever they go and learn about the latest buzz as soon as they are available, providing the consumer events, deals, and messages on their cellphone via SMS messaging, Textmunication is a mobile marketing platform that connects the mass consumer to the content that they crave – anywhere, anytime, through virtually any mobile device for all local events and promotions.
The Company currently derives a substantial majority of its revenue from fees associated with their subscription services, which generally include mobile marketing platform services. Customers are billed for the subscription on a monthly basis. For all of the Company’s customers, regardless of the method, the Company uses to bill them, subscription revenue is recorded as deferred revenue in the accompanying consolidated balance sheets. As services are performed, the Company recognizes subscription revenue on a monthly basis over the applicable service period. When the Company provides a free trial period, the Company does not begin to recognize subscription revenue until the trial period has ended and the customer has been billed for the services.
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Professional services revenues are generated from SMS and RCS packages where client logs into a cloud based application to send targeted SMS messages to their subscribers base . Our custom web application SMS/RCS platform is typically billed on a fixed-price bas ed on the number of SMS/RCS allocated for each package our client purchases . Generally, revenue for SMS/RCS services is recognized immediately as our clients have instant access to their web-based application to send out messages, the number of SMS/RCS messages allocated to a client expires at the end of each month and renews beginning of each month . The Company offers whereby control of the product passes to the customer when delivered and revenue is recognized at the time of delivery.
On May 22 TXHD announced it has launched its Smart Automated Messaging (SAM) technology platform for the growing cannabis industry. The company will now target the Cannabis Delivery and Dispensary markets for mobile engagement opportunities.
The Company’s proprietary SAM platform is capable of sending over 1 Billion SMS or RCS messages per month. The Company is in the process of scaling its business by customizing the robust platform for new and exciting industries such as the cannabis lifestyle sector through its compliant long code technology.
Textmunication recently signed a cannabis delivery company based in Concord, California who will be using Textmunication’s SMS long code technology for marketing their strains, delivery confirmations, new products, new locations, special offers, hiring and recruiting. SMS messages have a 97% read-rate along with a specific call-to-action embedded into each text. The Company feels the entry into cannabis mobile texting ties in well with its emphasis on the health, fitness and wellness markets.
“Textmunication has always emphasized an agile approach to our business model,” stated Textmunication CEO, Wais Asefi. We want to be innovators in the cannabis sector with our robust text messaging platform. The company can now tap into the multi-billion dollar cannabis industry, especially as new states legalize cannabis for recreational, medical or both”.
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Currently trading at a $1.8 million market valuation TXHD has little cash, manageable debt and decent revenues reporting $241 in sales for the 3 months ended March 20, 2019. TXHD has had some exciting developments in recent months; the Company continues to advannce in the mobile marketing space and in July entered into Advisory Agreements with Mr. Thomas DiBenedetto and Mr. Joseph Griffin. TXHD has had a serious run in recent weeks as Investors wait on more news from the Company. We will be updating on TXHD when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with TXHD.