POS is mean't to be live by end of Q1.. but I suspect more delays. Spoke to Ama and she said they need to be patient with their partner (Unionpay of course..) as they (wuxian) are the service provider.
I take this as a good sign, as it means it is still going ahead.. and they wouldn't have hired the new CFO from Vesta (Experts in POS) if it wasn't going to happen.
Personally I feel this company should be valued at multiples of 10 as it stands.. Ofpay alone should be a billion dollar unicorn. I guess one of the reasons is because it operates in China the market doesn't have trust in it. And for good reason.. look at how the price fell down to 10c then magically they give themselves a huge chunk of the company with options at a third of the IPO price.
Other Chinese companies listed on ASX also have horror stories with lack of transparency, working capital funds going into the Abyss and suspicious price movements.
However as one poster mentioned he feels like we're investing in Apple from day 1, it's more like Apple before the release of the iTunes Store (2003) and we all know what happened from there. Lets own the infrastructure, enterprise loyalty, mobile-payments, and most importantly the POS software for marketplace & value added services, bills and topups and we could all become rich.
NNW Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
