"One of Enoh's current challenges is to raise the capital needed:" One major problem is the funding to deploy it in Nigeria and Africa. The pitch is based on US$4.9 million but this would be billed out in phases. There is a need to deploy the terminals first. There's also a need to invest in the cost of manufacturing the smartphones and the licence for the mobile money platform. We've created a Money Pool entry to raise US$1,000 for 4-5 terminals already.
Once he's got the initial money, the challenge is to keep raising so that he can create a "critical mass" of users and roll out beyond Nigeria. Technology device strategies of this kind don't have a great track record but the combination of elements might just be a winning ticket: after all, it's not everyday that someone offers you a smartphone for US$1."
Quite simply Beeptool does not have the money at the moment to honor that contract.
Don't get me wrong, I really do hope they succeed. An I have a very strong suspicion that BeepTool is being managed/coached by SAS themselves. Hell look at the two companies slogans.
SAS - Anyone, Anywhere, Anytime
Beeptool- Everyone, Everywhere, Everytime
SAS Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held