Announcement, page-110

been away from my desk all day, a little disappointed to see the price action after the close, here are my thoughts as to why the pice didnt rocket (and probably wont take off from here either)...

"The partnership with DigitalX paves the way for the mobile application to be launched in the United States before the end of the month on Apple’s App Store and Google Play."

"The strategic agreement allows consumers in the United States and Canada to use AirPocket to transfer funds directly into mobile phone accounts of users on the Telefónica network"

"This partnership will enable millions of Latin American expatriates who have access to a smartphone to send Movistar airtime to their home countries in an easy, clear and transparent way"

so, these are the key points to me are:  

1. app is only being launched in the US/Canada for now
2. receiver wont need a smartphone or the app
3. cannot send cash-to-cash, only movistar airtime credit
4. "easy, clear and transparent way" smells like there are money laundering issues regarding cash to cash transfer of currency that still need to be addressed

so, very disappointing...

we havent yet got an app that lets users send home $1000 a month, cash-to-cash.  who needs $1000 in mobile phone credit a month? a mobile phone user in south america probably goes through about $15 a month...

plus, a super quick google search seems to show that movistar airtime credit isnt even that difficult for someone to top up online from another country: https://movistar.mobilerecharge.com/buy/mobile_recharge

so now we need to wait for updates on app download numbers, and any transfer figures the company is willing to release. but i wouldnt expect people to be transfering huge sums of money, or many people to be downloading the app if there are already existing avenues for customers to top up movistar credit online from overseas.

the 'disruptive' game changing technology that this company promised seems to be no where in sight... peer-to-peer, cash-to-cash, anywhere-to-anywhere. why is this not happening already if the technology is ready to roll? serious questions need to be asked... IMO, there are still regulatory issues with cash-to-cash transfer of money that the company is not being clear about.

not the breakout announcement i was looking for, especially after yesterdays warm-up... the chart reflects that. will need a bit of a push to even get through 19c now imo...