InterestingInteresting comments here.. Arguing of whether it will hit a 20 day MA or 50 day MA.. Why don't you guys question of how much revenues will be coming in with Iridium going nation wide in Canada and U.S. and the massive potential that this company has.
$200 mil or $300 mil.. maybe $400 mil? If they can generate $100 mil on just phone cards and limited locations, what will nation wide rollout bring north and south of the border now?
For Immediate Release: February 14, 2011
SelectCore provides update on Iridium MasterCard
TORONTO, ON: SelectCore Ltd. (TSX-V: SCG) a leading payment and transaction processor for
prepaid telecom and financial services is providing an update on its Iridium MasterCard business.
In the first quarter of last year, SelectCore launched Iridium MasterCard, the first of its kind reloadable
prepaid card offered in Canada.
SelectCore’s proprietary point-of-sale technology that facilitates real-time card activation and reloads,
has been deployed on over 4,000 company-owned VeriFone terminals in the marketplace. Sales
results from Iridium cards being offered in a limited number of locations to date has proven to be highly
successful. The Company is prepared to continue a nation-wide roll-out once it completes its
refinancing (as per the Company’s press release dated February 11, 2011).
I think people have forgotten of what the market is all about, and howthe companies are valued. The more money the company can generate thehigher it will be valued. If you don't want to place a value on it bybuying an undervalued stock, someone else will. Since Selectcore was inthe Profit 100, I did a simple research to demonstrate how undervaluedthis is.
In the Profit 100(https://list.canadianbusiness.com/rankings/profit100/2009/Default.aspx?sc1=5&d1=d&sp2=1&eh=ch),I took a company #4 that is somewhat in the same ball park as SCG. Thiscompany is T.CSF, also in the financial sector helping people who are unable to deal with banks, etc.. That's not the point however... The point is that in 2008 T.CSF's revenues were 130 million, and if you look at the 5 yr chart it was trading around the $4 mark... Just a simple comparison to show the problem with SCG trading at .50 and .60 cent range.
As far as today's trading, I think slow accumulation is going on by the smart ones and MMs, before they let this run.