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$730,777 Revenue in 2015 alone is reported! The June,2016, report is an audited filing. 2016 was actually last year(?). The report of that year has yet to be made. Saying there is no revenue, since filings have not been made, is spurious. Revenue has been reported in the past! It would have been mockery and absurdity to report 2016 revenue in 2014, for example. There was revenue in 2014, more than in 2015. 2014 was also reported.
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We had revenue from continuing operations in December 31, 2015 of $730,777, compared to $952,156 in 2014. Cost of revenue from continuing operations in December 31, 2015 was $130,120, compared to $99,976 in 2014, for an increase of $30,144 or 130%.
UBA Group Upgrading Tech Again! The context is that it is necessary to offer better service, in a reply to a comment on the Facebook page. Earlier in the year, in contrast, an upgrade timeframe was three or more days, according to comments. Something is likely happening(?). It is also getting closer to March, when some nature of expanded Emailmoni volume is scheduled.
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". . . .we are carrying out a quick upgrade which has become necessary to serve you better. . . . '
4/15 to 4/16 is recent, details charted. Africa has been announced previous to that. Nothing much happened until October. Then something else has happened in Africa so far this year.
$0.03 is more certain near-term, since it has been between $0.01 and $.05 in recent months. There was the up-listing that crashed. That was with only potential news, instead of something major already now previously documented, announced. Reports and filings have to happen first.
Reports Imminent(?)! There are Facebook posts making requests, now, going on seven hours. Mostly auditors probably had to look at the Israeli reporting. Filings will have a more likely broader audience, given that it's a Fintech company.
Most posts are less critical since October UBA publicity in Nigeria, about the new convenience of Emailmoni. There had been mis-characterization(?) of the dismissed fraud lawsuit ruling, which even I myself had mis-quoted. I had used "Defendant" where it should have "Plaintiff," quoting from the ruling, corrected below. I paid no attention to it at the time, myself.
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"The judicial language is properly cited. "Plantiff. . .brings this action. . .under several causes of action related to securities fraud." And so, "The Court finds that (Plaintiff) has not properly pled facts to support his fraud claims." Also, in fact, the subject of allegations regarding properties is also discussed in the pages, in writing, in the ruling. The history of all that is elsewhere discussed in other posts.
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Then there appeared, in December, some Facebook page announcements, and then some more in January and February. The UBA Emailmoni app has more than 50 reviews, if not many downloads, but in the 1000 or more. Then there was the recent CT order. The more verifiable recent MEC behavior is more or less slowly being acknowledged. Even the likelihood of actual new SEC filings has probably increased. The "Africa Card" announcements has been made more than year before the actual fact of an actual announcement, or anything happening.
MEC did file something, something else likely.
New Bank Agreement PR Imminent, Needing CTO? MEC has filed these before. There is also litigation under way.
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"The Company intends to submit a Freedom of Information Act Confidential Treatment Request to the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Exchange Act of 1934, as amended, requesting that it be permitted to redact certain portions of the License Agreement. The omitted material will be included in the request for confidential treatment.
The foregoing description of the terms of the License Agreement. . ."
Confidentiality Order likely protects MEC! It is not shown that anything has happened, but "sensitive" information, in the court's meaning: Get's protected.
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"Confidentiality and protective orders. . . .are often a necessity for defendants and plaintiffs alike due to the enormously important need to protect sensitive information, such as trade secrets. . .from the public eye and competitors. Confidentiality and protective orders recognize this need and prevent parties from sacrificing the privacy of their proprietary information simply because they have filed or been named in a lawsuit."
$1,682,933.00 Revs in 6/6/2016 10-K alone, is still the total of 2014 and 2015. The Washington court dismissed the now-famous message-board referenced plaintiff lawsuit, and with prejudice. There is basis to expect that the revenue increases going forward will easily exceed break-even. Apparently, lenders and investors have agreed. Funding happened!
The judicial language is properly cited. "Plantiff. . .brings this action. . .under several causes of action related to securities fraud." And so, "The Court finds that (Defendant) has not properly pled facts to support his fraud claims." Also, in fact, the subject of allegations regarding properties is also discussed in the pages, in writing, in the ruling. The history of all that is elsewhere discussed in other posts.
Others Have linked the decision already. The words on the pages, in fact, are everywhere(?)!
No violations, shown in various sections of the ruling, are actually germane. "No aiding and abetting," "no fraud," "no cause," and on and on, referencing SEC sections.
What works is, "claims are dismissed in their entirety with prejudice." There were no findings of SEC violations. That is in writing.
$1,682,933.00 Revs in 6/6/2016 10-K alone. Lawsuit challenges of accounting are shown, "Case Dismissed."
Case dismissed. No Acronyms shown? No Relevance shown!
Correct since rules were properly applied. Judicial corroboration apparently exists many months ago. No assumptions need to be made. There is record of a lawsuit dismissed, entirely. Anyone knows that corporate by-laws, lots of other evidence, Special Purpose Entity, and other kinds of concepts come into play, all lawful. They are mostly known to the parties involved. No one on IHUB appears to have been a party involved. That was also a problem in the referenced case dismissed. I myself was not involved. It is not shown that anyone IHUB was involved.
"Off-Balance-Sheet Financing" happens lawfully. It is a known concept. It is applied by lawyers, accountants, and other professionals who know about the rules and regulations.
Value happens, Off Balance Sheet, with rules and applications of rules. People who are auditors and accountants do that. That is not done on a message board, just speaking generally.
So Lawfully & Accurately are equal.
Lawful assets accounting is different from revenue and expenses accounting--the latter pursuant to IRS rules. Accountants have customary and lawful methods for keeping assets off and on any reports. IRS has customary and lawful methods for reviewing what it wants reported. Likely anyone goes with the filed reports of revenues and expenses.
Revenues report is filed at SEC, cited. Accountants have access to records themselves.
$1,682,933.00 Revs in 6/6/2016 10-K alone, looks like ever, just a while ago(?).
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We had revenue from continuing operations in December 31, 2015 of $730,777, compared to $952,156 in 2014. _____________________________________
California Superior Courts also need MEC-powered devices, more than before. They are under budgetary pressure from the pension-funding crisis. The pensions are under-funded. Every California Court probably needs the fine-paying gizmo, powered by MEC's device. They are already in place in at least two counties, creating interest in all the other counties--even where the flood is having to be prevented.
Positive Emailmoni review again, no complaints anywhere. One app does not create just one item, but creates more likely increasing recurring items.
September 2016, revenues, below.
https://www.facebook.com/myecheckinc/
Revenue likely increased since September, 2016, when this report, below, appeared at the MYEC Facebook page. Besides the increase of items processed, there is likely revenue from licensing or other similar sources. It is noted that financials are actually expected, not so far filed. It is also likely that there will be overall revenues reporting even when those happen, against overall expenses. Africa has not been reported at all in previous filings. it is not expected that client by client results will be included.
Stock was upgraded in just last year of those years. Current new client did impose scope creep last year, and so now there are easily two new clients this year. They are not just confined to North America. They include prestige North American users, through operational agreements, directly with the offering clients. That is actually not hard to understand.
US Operations will be in quarterly reports, on the way. Some clients have public sector clients they service through their operations. They are well known, California Superior Courts, for example--in prestige locations such as Beverly Hills. The transactions reporting was showing increases through end of summer, when attention turned to Africa for now pending news and reporting.
Marketing emailmoni has not started, and google play review, dated today, says app downloaded but can't use it yet. There appears to be a bank-wide IT upgrade under way, which may likely now be said to include emailmoni. The completed upgrade is more also likely to be completed, after February 8, 2017(?), since appears not to have been today(?). So there is corroboration of what appears on the MEC Facebook, from MEC, below.
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We see growth, however it has been slower than I expected because UBA have not yet promoted the system. We are still working with connections to other systems such as U-Mobile that enable greater access to eMailMoni, then I believe it will be marketed intensely. There is a new user quota for March which is significantly higher than our current user base, that's a really good sign.
UBA Group Major IT Upgrade Under Way, apparently. At least two group Facebook posts allude to a three-day problem, so far. The continuing replies are to other apps, not including Emailmoni, in the interim. New "Covenience" banking may be in the offing, using the so-far not disparaged: Emailmoni app.
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"Hello please fix your U. Mobile app for online banking because it has refused to work for about 3days now I can't make transfer....
Deepening the Bank 1 Mystery Rollout is all the Facebook posts about all the upgrades and glitches with the main bank mobile app.
Nigeria has millions of people with email. No complaints appear anywhere about the Emailmoni product, using email. Not much news even generally appears about it, even. Seergate had posted that maybe billboards are going to occur.
Maybe, likely, the other product has to be fixed first(?). Maybe the other product is being re-integrated with the new Emailmoni product? They are all supposed to work the new credit card program.
Nigeria generally likely has oil money, again--cushioning the effect of the government's anti-corruption campaign: In a recession(?)!
Just possibly all these matters are related(?).
The subsidiaries may have announcements, too(?). 100 high-tech companies, in the United States, may also seek more travel-friendly nations in which to relocate. . .maybe an Australia, near to New Zealand(?), for example.
MEC has cash and reportable news. Some nature of event must be in the offing. New clients happen, for example, when people know that a viable product, even exists. There is the giant, unexplained UBA email announcement to explain, even.
Patent Approval a 50% bump at minimum, according to a most recent review elsewhere linked. More was also suggested in the same review, double or more. There may also be news of the January presentations to various companies.
Again, no paid promotions even, going back months(?). Likely a good sign all by itself.
Filings & News Probability more, with all the widely not-noted events now having been shown(?). There is news from Nigeria, news on the MECINCORP Facebook page, and for some reason a "case study" about UBA bank at the website. There are no filings or PR releases. There seem to be UBA Bank app holders, no complaints at UBA Facebook, or at the app stores. If there are now more corporate users, then there is a basis for lots of transactions reporting. It is the likelihood of no further filings or news that tends to zero. Further noted is the lack of any paid promotions, going back months.
DA's Fabricated Posts Disclaimer: Innocence. "Please Note: Arrests are made based upon probable cause. All are entitled to the presumption of innocence until proven guilty in a court of law." The El Dorado District Attorney apparently takes other people's word, posts them, and assigns probably cause. Possibly they even get sold to a Fake News Site(?), also possibly by someone else. He apparently is at odds with the legislature on one or more other matters.
FBI emails news turned out to baseless, noted worldwide.
Old irrelevant news are distractions not worth pursuing. There are multi-faceted outcomes, and likely multi-faceted explanations.