NETeller Rising
Isle of Man-based online payment processor NETeller Plc (NLR.L) reported in a trading update last week that its average number of new daily sign-ups for the third quarter ended Sept. 30 was 3,085, bringing the total number of customers at the end of the quarter up to 2,026,413. The average number of daily receipts from customers improved to US$3.64 million over the quarter, up from $3.15 million in the previous quarter, while the company's gross margin reached 73.9 percent as revenues rose to $44.9 million, a 106 percent improvement over the corresponding period in 2004. Net income after tax was $23.6 million and earnings per share were $0.0196.
NETeller also announced that a group of its founding shareholders--Corvina International Ltd., Eagle Medallion Fortress Investment Corporation and 1098853 Alberta Ltd.--have sold $379 million worth of shares via an underwriting placement through NETeller's broker Canaccord Capital. Thirty-five million existing ordinary shares were sold at 625 pence per share through the placement, and the shares have already been admitted to trading on the Alternative Investment Market of the London Stock Exchange. The group of shareholders now holds less than 30 percent of NETeller's issued share capital and will no longer be able to exercise control.
Betcorp to List on AIM via Fast-Track Procedures
Betcorp Ltd. (BCL.AX), owner of online betting company WWTS, has announced that it will plow forward with its plan to float in London by filing for a listing under the Alternative Investment Market's fast-track procedures. Despite the volatility of I-gaming stocks in recent weeks, the firm intends to list shortly after publishing its full-year results in February 2006.
Reports Released
Parlay Entertainment's (PRYNF.PK) financial report for the third quarter of 2005 is filled with new corporate records in several significant areas. The company received US$1.57 million during the quarter, which trumped its prior record during the first quarter of 2005 by 19 percent and its revenue during the corresponding period of 2004 by 60 percent. Royalty revenue also reached a record amount of $1.48 million, an improvement of 76 percent over the same period last year, while net income reached a record amount of $262,583 ($0.02 per share) compared to a net loss of $28,609 recorded during the same period last year.
Parlay Entertainment - Q3 2005
Phantom Fiber Corp. (PHMF.OB) recorded a net loss of US$500,000 ($0.04 per share) for the third quarter of 2005 ended Sept. 30, which compares to a net income of $89,000 during the same period of 2004. Meanwhile, revenue rose by 36 percent compared the corresponding period last year to reach $11,084. The company also reported that operating expenses have increased by $201,000 to $258,000.
Phantom Fiber - Q3 2005