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Is anyone else following this stock? It has had a tough time the last several months but it looks to me like they may have bottomed out in the mid .20s range. The stock float is small and I would expect that they should increase their revenues from 3Q of 1.35m.
This is their latest news release
Shanda Interactive Entertainment Extends Agreement with Pay88 Inc.
CHONGQING, China, Feb. 26 /Xinhua-PRNewswire-FirstCall/ -- Pay88 Inc. (OTC Bulletin Board: PAYI) announced today that, through its local Chinese operating company, Qianbao, it has signed an extension agreement with Shanghai-based Shanda Interactive Entertainment Co., Ltd. ("Shanda") to continue distributing their prepaid digital or stored-value card, called the Shanda Greencard, for accessing its numerous multiplayer online games. Considered to be one of China's six big game operators, Shanda's popular games include, ''Magic Land'', ''Crazy Kart'', ''Age of Hero'', ''Miracle'' and ''Kongfu Kids'' to name a few. Pay88 is confident that the Shanda Greencard as part of their product line will continue to strengthen Pay88's position in the distribution and game card reseller market.
''This extension of the distributorship agreement that we have secured with Shanda is right in line with our strategy to become recognized as a major distributor and reseller of the prepaid online video game cards. We have worked very hard and have made significant inroads with many of China's leading game operators and this is just the start,'' said Pay88's president and CEO, Mr. Guo Fan. ''We have been growing our business steadily and I'm not surprised that we have generated some interest from the game operators. We are very pleased.''
About Pay88
Pay88, Inc. engages in the distribution and reselling of prepaid online video game time as well as a range of prepaid digital cards, including online multiplayer game cards, phone cards, and education cards through distribution networks in Chongqing, China and through http://www.iamseller.com .
Certain information contained in this Press Release is considered forward- looking statements. Investors and prospective investors are cautioned about significant factors which have in some cases affected our actual results and are in the future likely to affect our actual results and cause them to differ materially from those expressed in any such forward-looking statements. This Press Release contains forward-looking statements relating to future activity, including operational and business prospects. Actual results may also differ as a result of factors over which we have no control, including general economic and business conditions; local economic conditions, effects of war or terrorists acts on the capital markets or the Company's activities.
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