What to expect from SCG1. Last time SCG issued first quarterly results for 2010 was on May 31 2010 and for 2009 they released them on May 28 2009(SEDAR)..... we are getting close to the due date and I expect them to be very good judging from their hint in the last news release("
New cardholders up an average of 16% month over month with a total increase of 61% over the previous quarter.") -> We should see a further substantial increase in revenues
2. I have posted here before where I compared SCG to GreenDot using rough calculations to arrive at a very humble valuation of SCG of $4. I will not repost this but if you are interested here's the thread
(https://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=SCG&t=LIST&m=29676128&l=0&pd=0&r=0)3. To compare SCG to Netspend take a look at their annual report
(https://www.sec.gov/Archives/edgar/data/1496623/000104746911001638/a2202337z10-k.htm)-They have reported revenues for 2010 of
$275,387,000 which is more than double what SCG produced
-They were also able to generate a Net Income of $23,748,000
-But... They are also trading at +/- $8 right now where we are trading at .50 cents
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Now......
SCG has fairly recently launched the Iridium Card and therefore the 2010 revenues have not had a chance to fully reflect the money coming from the prepaid Master Card.
$100mil in revenues without the Iridium, is pretty darn good if you ask me.. So what kind of revenues might we expect when that money from Iridium Card is reflected in the financials, especially judging by the last news release of what to expect
New cardholders up an average of 16% month over month with a total increase of 61% over the previous quarterAnd....
The kicker is that we are talking mostly about just the Canadian market here... With the launch of Iridium in U.S. what will the revenues be then??
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I will repeat this again that the only thing holding SCG right now from being a $4+ stock is their inability at the current moment to turn all that Revenue into Income due to their large expenses.... However this hurdle will soon be overcome as it is a normal
phenomenon for any developing and growing company, and I do call on you to try and find a company on Venture generating $100 mil in revenue to be trading at .50 cents
GLTA, this will be a good year for this company.