RE:RE:CHINA RELATIONSHIPS ARE KEYSnickel wrote: Honestly Banx, we all know it is only a matter of time before FGD starts to realize some serious revenues and profits. I have no worries at all. Give this thing a year to really get going.....we will be looking at a unicorn.
I feel much the same way about PKK. Once they get the ball rolling in China - and they have made some significant strides, they will make serious money. China relationships are key for sure.......and there is going to be big money made for those companies, like FGD, that have laid the necessary groundwork and moved early to establish partners there.
Peace..............Snickel
banx wrote: FGD has a good handle on the China FINTECH equation.
Itwaru has a focused plan.
"We are very pleased to be partnering with China Smartpay. China Smartpay is a highly respected organization and we have developed a strong level of respect and trust for each other. First Global and China Smartpay will jointly deliver cross-border and other payment services to address these significant needs and growing market opportunities. We intend to leverage China Smartpay's strength and licences in China to originate transactions from China, couple that with First Global's overseas licences and cross-border payments capabilities to ensure compliant cross-border transactions, and First Global will terminate these transactions to beneficiaries which are individuals and retailers outside of China. We believe that the combined strengths of both companies will position us well to capture market share in this sizable and expanding market," said Andre Itwaru, chairman and chief executive officer of First Global Data.
Wasn't the CEO promising "serious revenue and profits" last year? Didn't his podcast last fall mention 22% growth month over month? When you crunch those numbers, that was supposed to equate to $100 + Million in gross revenue by fall of 2017.
What was the amount of gross revenue reported on last set financials released? Oh ... a frickin lot less than $100 Million!
I am long FGD and my portfolio is in the Red...
Bottom Line is this...
The company needs to start showing revenues a lot quicker than a year. They need to start showing them ASAP. IMO, investor confidence is dependent upon that.
The potential opportunity here is amazing. BUT..... Can FGD get ahead of competitors and get a slice of the pie? I sure hope so...
Time for the company to deliver revenue. I think they have enough relationships, agreements, MOU's etc.... If revenues don't materialize, the paper that all of those agreements are written on can at least be used to wipe something.
Come on Andre... show me the money and I will be happy!
Time to deliver.
Good Luck longs!
FI4