Nobody can tell what the future would be of course. But if they started business by mid of June, if they already sold 160000 cards and already organized the production for more than 1 Billion more per year...Check at the following message dated on July 7th:
''The company is currently generating revenues and has produced 150,000 stored value debit card packs. The company engages in a profitable business model, retaining an estimated 35 percent of the sale price of card packs and 55 percent of the fee income as its gross margin from recurring fees (after variable expenses). Management believes that with as few as 26,000 average active card packs in the second half of 2004, the company would likely earn nearly $500,000 in pre-tax income for the year. Management further believes it is reasonable to expect $1.6 million in pre-tax income in 2005 (with 107,000 average active card packs) and up to $4.8 million in pre-tax income in 2006 (with 225,000 average active card packs).''
Right now they sold 160000 card packs!!! much more than the expected quantity in July 7th ...check at the last filing in the document 10QSB dated on Sept 10th:
''ACS has produced 160,000 card packs and sold product to distributors. End-users are now purchasing and activating card packs. ACS has built the infrastructure
to support up to one million card packs per year without significant increases in overhead. ACS's Orlando Operations Center supports sales, marketing, card pack production, data processing, customer service, the company's customer and
distributor website, and distribution channel disbursements.''
So my opinion is that the board will need financial support to grow up, but on the other hand the product seems to be successful, and I expect to get the 3rd quarter financial news that will show us larger incomes than expected. It would be too soon to see this profitable before end of 2004, but we never know...
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