This company floated on AIM today. Already recording spectacular growth (see announcement). Could be a rival for paypal and (conceivably) Earthport, but branching into other areas such as the currently clumsy 'swift' banking.
Well worthy of close inspection.Floated today i bought in just below float price, of 200p, @197.55p.

NETeller joins AIM. Announcement as follows:

"NETeller plc, one of the leading online money transfer services, is pleased to announce the admission of its shares to trade on the Alternative Investment Market (AIM) of the London Stock Exchange plc.

Highlights:



In conjunction with the AIM Admission 15,000,000 new ordinary shares have been placed on behalf of the Company at a price of 200p per share. In addition 2,500,000 existing ordinary shares have been placed at a price of 200p on behalf of selling shareholders

As a result 30 million has been raised for the Company and 5 million for selling shareholders.

The Directors intend that the net proceeds of the Placing will be used for website development, to make acquisitions, and for general working capital.

The principal purposes of the Admission are to create a public market for the Company’s ordinary shares; to raise its profile and status; to enable employees to be incentivised by the grant of options in publicly traded shares; and to provide access to capital.

Canaccord Capital (Europe) Limited (“Canaccord”) is the Nominated Adviser and Joint Broker for the Admission. Durlacher Limited is also Joint Broker to the Admission.


Commenting on today’s announcement, Gord Herman, CEO of NETeller said: “The level of institutional support for NETeller’s placing has been very satisfying. Having successfully completed this stage of the Company’s development we are now committed to getting on and delivering for our shareholders.”
- Ends -


Overview
The NETeller Group operates an online money transfer service that utilises and extends the existing international banking structure to provide a secure means of transferring funds worldwide. A NETeller System account is like a virtual wallet which enables Members (an individual who has opened a NETeller account) to deposit, withdraw and transfer funds to any Merchant (or internet site) that supports NETeller System online payments for goods or services. In June 1999, Stephen Lawrence, the founder and major shareholder of the NETeller Group, conceived the idea of an ‘e-wallet’ that could be used to fund Internet based transactions without the security risk of processing each transaction at each separate Merchant site. In August 1999, John Lefebvre teamed up with Stephen Lawrence to develop the concept and to assist with raising capital.

As at 31 December 2003, there were approximately 586,500 Members using the NETeller system, growing at 1,600 per day. At the same point there were 1,250 Merchants registered to use the NETeller System. Since processing began in July 2000, an average of 30 new Merchants have been added each month.

To date the most receptive market segment to NETeller Group’s ‘e-wallet’ concept has been the online gambling market.

In 2000, private funds of US$200,000 were raised to establish the NETeller Group. Growth to date has been financed by internally generated cash flow.

Gord Herman, was appointed Chief Executive Officer in February 2003 and under his stewardship NETeller HAS INCREASED MONTHLY REVENUE from US$866,000 (September 2002) to approximately US$4.335m (December 2003). In the year ended 31 August 2003, NETeller generated annual profits of US$13.5m, before other income and expense.

See the above post Mickey , that accounts for the large trades at or around 280p.

NETeller
durlacher est year end 31/12/04 - ptp 29.5 m
rising to 40.7 m next year.
house broker canaccord currently revising estimates
will probably be higher if recent newsflow is correct,
forcasts have been raised over 20% in last 3 months.
forward pe only 10 extremly low for sector
eps growth estimated at 77%
put all that together along with good relative strength
and more liquidity after todays placing due to demand
this share looks to good to be true,we should be asking
how high can it go? 6-7-8 ???

regards HUSTLER

8

A word that Dil doesn't like but the only description I can put on this company and its prospects---mindboggling!! 10+++

Pretty impressive bounce going on here. Now that the placing is out of the way and liquidity improved there should be no problem with these getting back to 3.50 in double time imo.

Well done to any that added sub 3.00, I was greedy and waiting for 2.80 :-(

capa

I did capa and Im well pleased. Nice rise today aswell.

cheers GF.

Now 310p and looking good for a lot more.

cheers GF.

recovered to 3.10p today seems a bit punch drunk after all the activity
with placing earlier in the week which is only to be expected,
when it settles down it seems certain to resume it's upward path,
as all the fundamentals still look great.

regards HUSTLER

I thought it would go quiet until the next set of figures around March but this doesnt seem to be happening. Anyone know what the Deal Rumours are? I heard they may be given an Asian Gaming contract but only vague comment. Take note of PAY though the figures are out in December.

moneyplus

not always straight lines but sideways and upward will do nicely
if stats are right the only way is up in mid term.

regards HUSTLER

Yup and its gone nicely up since the placing.

cheers GF.

Play at an Online Casino using Various Payment Methods
10 November 2004

Online Casino gambling has flourished on the net in the past several years. The reason is because it offers people who enjoy casinos games a great way to play a few hands from the comfort of their own home. The other reason is with the advent of online technology; the software is advancing at a rapid rate and making the online casinos more and more realistic and exciting. The graphics and software allow the player to experience a virtual reality version of all their favorite casino games form the privacy of their own PC. Whats more, some of the newer features are making the experience even more realistic such as live dealer games and instant flash casinos. These games use webcams to transmit images of real live dealers that the player can communicate directly with using chat and messenger technology.

The issue of payment at the online casinos is a big one. In the early days players could make deposit and receive winnings directly through major credit cards and PayPal one of the internet biggest and most established online payment systems. But recently all this changed and PayPal as well as some of the major credit card companies stopped servicing the online casino industry directly. At first this caused quite a panic among online casinos and their members but the void was quickly filled but many new online payment methods that started to pop up on the net.

Some of the online payment methods that have gained popularity and a good reputation on the net include Neteller, 900Pay, Citadel, PrePaid ATM, credit card and many others. The online payments business has become so large that it has created a new industry that is dedicated almost completely to servicing the online casinos. Its hard to find a quality online casino that doesnt accept deposits from the top online payment companies. Some of the best online casinos have even started to offer bonus promotions to players that use specified methods of online payment.

This has made the process much easier for the player. Once they set up an account with an online payment company they can simply make deposits and receive their earnings automatically form the casino. These payment companies usually work in conjunction with the players bank account or credit card info. Its important to find the right payment method for your needs and to determine which methods is going to work best based on the games you like to play or the online casinos you play at. You can find plenty of information and reviews about the various online payment methods on sites like Online Casino Reports and on the net.



cheers GF.

Moving up yet again.

cheers GF.

When does it look greedy to stay in??? It's difficult to see this one falling back very much.

About 10

Just lifted from another board from a usually very reliable investor........................

From the Ft sat: NETeller, the online money payments provider, was up 1.4 per cent at 317p on rumours that a third quarter trading update next week would suggest bumper trading in the third quarter. Investors also hoped that it would contain news of joint ventures in Asia.

cheers GF.

Looking forward to a good week.

cheers GF.

http://www.balkanpearls.com/nutella.gif

In my opinion a very unfair comment in the Sunday Times about NLR Directors selling. It says they got permission to sell early and break the lock in to pocket 46 million - lucky them--but it doesn't say this was to satisfy institutional demand and slow the rising SP. The price did drop but not for very long so it follows they could have made a lot more if they had held on to their shares. Just shows we do more research than some of these financial gurus!!

agree entirly moneyplus
46m nice return but had demand not been so high for shares
and held on to agreement cash in, return could have been 100m or
a lot more as i think we all believe this one can go 6 - 10
if 3rd quarter results due out over next week are positive this will
give the shares a boost upward probably to 350 mark befor the sell off.

regards HUSTLER