ZOOMPASS HLDGS INC COM USD0.0001 (POST FWD SPL(OTCMKTS:ZPAS)
Shares of ZOOMPASS HLDGS INC COM USD0.0001 (POST FWD SPL(OTCMKTS:ZPAS) are experiencing exceptionally high volatility. Today’s trading has seen ZPAS shares hit a high of $3.47 and a low of $2.05. Yesterday the company issued a press release that raised a lot of eyebrows. The OTC Markets apparently approached Zoompass management on Monday with a promotional newsletter touting Zoompass and advocating that investors purchase it shares. Zoompass’ Tuesday press release left no doubt that management was distancing themselves from the effort:
“The Company is unaware of the full nature and content of the promotional newsletter and any related promotional activity, the responsible parties and the extent of the email newsletters’ dissemination. The Company is not aware of the promotional materials’ author or its affiliated entities or persons, other than the identifying information disclosed in the newsletter. The Company’s recent press releases have reported on and provided disclosure of legitimate and ongoing corporate activity only, and are not part of any promotional activities or campaign.”
ZOOMPASS HLDGS INC COM USD0.0001 (POST FWD SPL (OTCMKTS:ZPAS) is a developer of financial technology that assists clients in digitizing their payment, lending, and compensation transactions. Based in Toronto, Canada Zoompass changed its name from UVIC in January of 2017 and the company’s ticker was changed from UVVC to ZPAS. In February of this year, FINRA approved a 3.5 forward split for shareholders of record on September 7, 2016 – a move also approved by shareholders on that same date.
ZOOMPASS HLDGS INC COM USD0.0001 (POST FWD SPL (OTCMKTS:ZPAS) leverages their banking partners Visa and MasterCard and has a card and mobile payment solution services platform they market for use as employee incentives, compensation, customer rewards, and promotions. Zoompass also offers a customized credit card program through their partnership with Home Trust bank. ZOOMPASS HLDGS INC COM USD0.0001 (POST FWD SPL (OTCMKTS:ZPAS) also offers international and domestic fund transfers through a Zoompass’ Mobile Money app. Lastly, Zoompass offers professional services to companies who want to outsource the compliant-heavy IT requirements associated with financial technology operations.
ZOOMPASS HLDGS INC COM USD0.0001 (POST FWD SPL (OTCMKTS:ZPAS) is led by Rob Lee and Steve Roberts. Rob Lee is a Director and CEO who previously worked for publicly listed Versatech Group Inc. Steve Roberts is a Director and President who has over 30 years in the Canadian telecommunications industry. Before joining Zoompass, Roberts lead a team that was developing Ingram Micro’s Canadian mobility market share and partnerships.
ZOOMPASS HLDGS INC COM USD0.0001 (POST FWD SPL (OTCMKTS:ZPAS) aggressively pursues partnerships and as of early March, 2017, Zoompass had agreements with Synnex Canada Ltd., Sky Devices LLC, U-Vend Group, and Starlink Group LLC – amongst many others.
As with many other companies of this level of market capitalization, ZOOMPASS HLDGS INC COM USD0.0001 (POST FWD SPL (OTCMKTS:ZPAS) has no listed profits and is currently operating at a loss.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
About the author: James Marion is a University of Houston student studying Business with a concentration in Finance