Some good news at last from this weeks Shares mag. Tim Freeborn revisits the company and altho no firm details are given about new deals he says they will be announced this quarter. I would think that this could be at the same time as the interim results are announced. I for one will be holding on cos they will fly sooner rather than later! ( 8.30% up today!)

Both Waltech (listed on Plus) & Earthport (formerly Ofex) are involved in Online paments business, Waltech have in fact, only recently become 100% involved in that area, with their 100% owned Payment Systems.

Both have recently announced results to June 30th 2007, and I think it's worth comparing the two.


EARTHPORT TURNOVER 2006 0.6m
PAYMENT SYSTEMS TURNOVER 2006 1.0m

EARTHPORT TURNOVER 2007 1.1m
PAYMENT SYSTEMS TURNOVER 2007 7.8m


EARTHPORT LOSS 2006 (2.8m)
PAYMENT SYSTEMS LOSS 2006 (1.0m)

EARTHPORT P/L 2007 (4.4m)
PAYMENT SYSTEMS P/L 2007 0.005m


EARTHPORT MKT CAP 34m
PSL (WALTECH) MKT CAP 11m




Add to this, Earthport have net debt & Waltech Net cash and indeed Waltech did post a 1.9m profit, but that was on disposal of investments and the group now concentrates purely on online payments.


I think Earthport have some exciting stuff ahead, but so do Payment Systems, they are about to launch having spent nearly 18 months developing, thier payment infrastructure developed for the social network industry. Their facility will be attainable following the launch of a music based social network already boasting nearly 300,000 members before launch. Also www.icoins.com looks interesting of which Waltech own 75%.


Other than Waltech being on Plus markets the huge gap in valuation is puzzling organic growth in 12 months from 1,000,000 to 7,800,000 is pretty impressive, strangely enough, the main directors wit Waltech used to be involved with Earthport!

Earthport sp moved ahead by 12% yesterday and broke through the resistance level at around 60p last reached in Sept 2005:

not sure why one would want to buy this share, other than that it is going up! ..... however, latest rns shows so pretty hefty institutional holdings, but of more interest would be to know what they were say a month ago.

Toya .... this is one of yours, so any idea?

On 03 December (i.e. a month ago) the sp was 46.0-47.50p. Currently at 68-70p.

RNS on 22 Aug was:
"Notification of Relationship with IBM
Earthport has become a business partner of IBM and has commenced the joint
promotion of Earthport's innovative banking payment and collections service..."

EPO was then invited to share the IBM stand at a US conference in October. So this could have led to some new contracts in discussion - would take a while to finalise.

Also: there have been rumours of stakebuilding by a Dubai-based investor - reported in November by the Daily Express. "Close watchers say new Middle Eastern money-transfer rules could provide a big opportunity."

Hope that helps.

I bought some WALP at 36p on plus mkts yesterday -the figures look pretty impressive--I bought ahead of the interims in March and a possible move to aim. I looked at EPO but the figures don't compare well.

That's as maybe, but I've made just over 20% profit in less than 2 weeks (and that's when not even much has been happening!) so I'm not complaining.

well done-there's quite a bit going on behind the scenes according to the other side I will keep an eye on this one.

OK - let us know what you find out.

Anyone know what has been going on today? ADVFN falls over and then EPO jumps and I can't find out why.

romanway, maybe the major tantrums on the FTSE are over for the time being and some people return to buy EPO.