All that investors need to know about Mobecom’s Primary offerings - Paid by Coins and airBux

  • May 02, 2019 AEST
  • Team Kalkine
All that investors need to know about Mobecom’s Primary offerings - Paid by Coins and airBux

Mobecom Limited (ASX: MBM) is a full-stack customer engagement technology provider, having a growing global footprint in three countries, i.e. Australia, Singapore and South Africa. Underpinned by its mission of developing leading-edge digital customer engagement solutions, the company has been involved in providing liquidity for digital assets through its two main offerings: Paid by Coins and airBux.

Paid By Coins is an early stage cryptocurrency exchange platform, which delivers secure payment facilitation portal for end customers, bringing momentum to Mobecom’s position in the cryptocurrency and blockchain sphere. This platform can be used by the customers to pay their bills or to make payments directly to any Australian bank.

For the six months ended December 2018, Paid By Coins reported $1.4 million in revenue. In January 2019, the company completed the necessary regulatory requirements to become an AFSL Authorised Representative of Flexewallet Pty Ltd. The company believes that operating as an Authorised Representative under Flexewallet's AFSL will improve the ability for Paid By Coins to attract a larger audience and facilitate much larger transaction values.

In the recent past, the company has established new Paid By Coins operating companies in South Africa and Malta, progressing towards the global expansion of Paid By Coins platform. The global expansion of this platform will help the company in increasing its revenues.

Mobecom’s digital rewards and payment technology product, airBux, is a cloud-based loyalty currency platform, which helps its customers in making payments with cash, credit card, cryptocurrencies or airBux Cash across multiple verticals.

airBux recently secured a Partnership with Leezair, an Australian TravelTech company to drive customer growth and expand the ecosystem of the products and solutions for the airBux customers.

It is expected that the integration with Leezair will change the way consumers use their digital assets, allowing consumers to purchase tours and experiences from global providers, payments of which will be made through digital assets and traditional payment methods.

For the half-year ended 31 December 2018, the company reported revenue from ordinary activities of $1.46 million, up 2.3% on the previous corresponding period (pcp). Further, the company reported a loss of $3.45 million for the half-year period as compared to the loss of $9.130 million in pcp, representing an improvement of 62%.

To support the technology rollout of the company’s recent commercial transactions, Mobecom recently announced a capital raise, which has already raised more than $2.5 million (before costs) via a private share placement, for which they received strong support from the cornerstone, new and existing investors.

After the settlement of this placement, the company will be well positioned to fund its expansion programs. The funds from the placement will help the company in executing the major contracts, which were announced with leading blue-chip organisations in South Africa and Singapore.

The company is focused on the airBux and Paid By Coins platforms in Australia, and to finalise the opening of Paid By Coins in Malta and South Africa in the next few months.

At the end of March quarter, the company had cash and cash equivalent of A$641,000.

At the time of writing on 2nd May 2019, AEST 03:58 PM, the stock of the company is trading at a price of A$0.099, with a market capitalisation of ~A$22.04 million.


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