Travel in Asia is returning to full swing and I can attest that these e-sims are a real life saver. Ever had to remove a sim card from your phone while travelling or with kids? The uptake of this technology will become mainstream that quickly.
The market has not grasped how FRX make money. When travel resumes and the ramp up of product sales in Asia occurs this will be cash flow positive and should be $100M+ valuation.
Baseline revenues now are $3M per annum. That is before the latest 2 deals in Asia.
@gizardhas already hit the nail on the head. Mastercard and Apple aren't just reselling these. They are buying them off FRX to give to their customers for free. It is one of the easiest business models.
Consider what FRX revenues will be once 10M+ sims are handed out over the next few months.
FRX Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
