Forgot Username or Password/PIN?
News Centre Notice of AGM 23 January 2013

  

For immediate release: 21 December 2012

 

MoneySwap Plc

("MoneySwap", the “Group” or the "Company")

 

Interim results for six months ended 30 September 2012

 

The Directors of MoneySwap Plc (AIM: SWAP), the Asia focused prepaid card and online payment services provider, are pleased to announce its interim consolidated financial statements for the six months ended 30 September 2012.

 

Operational highlights

  • Operating expenses down 25% against the equivalent period last year (US$2.4 million v. US$3.2 million for 2011);
  • US$1.5 million of unsecured loans received in period with further facilities of US$785,000 secured to-date post period;
  • Revenue generating trial projects for MoneySwap’s three China UnionPay related products successfully progressing post period in Europe and Asia;
  • Management continues to pursue the collection of US$1.7 million of billed revenue on the Suisse Black Visa pre-paid card.

 

Richard Proksa, CEO of MoneySwap, commented:

“We are confident that with the loans and additional debt funding currently under discussion with investors, the Group has sufficient working capital to support its operations and launch MoneySwap’s China UnionPay products. After these products are put into full operations, the Board anticipates that the Group will be funded internally from the revenues generated and repayment of the various loans will commence. ”

The interim consolidated financial statements will shortly be available on the Company's web site, www.moneyswap.com.

 

For further information, please contact the following and click here.

 

MoneySwap Plc

Allenby Capital Limited

GTH Communications

 

Nominated Adviser

Financial PR

Richard Proksa

Chief Executive Officer

Nick Naylor

Alex Price 

James Reeve

Toby Hall 

Suzanne Johnson Walsh

+852 3919 9888  

+44 20 3328 5656

+44 207 822 7493/7492