The businesses financial reports can be found through this link: http://www.eservglobal.com/investors/financial-reports-presentations/2013

My thoughts

I believe that this company has a very large potential for growth as the world we live in is becoming ever more technologically reliant. 2012 was the worst year for eServGlobal out of the most recent four years as they saw a loss of $15.59m. Fortunately however, 2013 was a much better year for them as the company saw a substantial increase in total assets, total equity and a decrease in liabilities, not to mention a profit of $10.37m (this is the first year that they have seen profitability in the core business since 2009). Liabilities also appear to be relatively low in comparison to their profit, assets and equity. This gives me the impression that the company is heading in the right direction. I would have preferred to have had an Airline company just because that's what i'm into, however its good to have a company that coming up.

Challenges, Concerns and Questions

• One of the biggest challenges that I believe eServeGlobal faces is competition. There are many other companies that do mobile finance such as MobileFinacial, Gemalto and many more.
• A concern about the business that I have is the frequent change in CEO and CFO's. I'm not sure if this indicates a level of instability in the business or if this is common.
• I'm not entirely sure on HomeSend joint venture is and how it affects eServGlobal, however it is evident that it plays a large roll as there is much talk about it.
• The change of financial year end from 30 June in 2011 to 31 October in 2012 has got me wondering what happened from to the financial reports between the changes. Has anybody else had this problem?
• Not entirely sure on what deferred tax assets are. eServGlobal has over $10m of them in 2013. Does anyone else have such a large amount?
• Not sure on what reserves are at this stage and why they are negative. Is it common to have reserves as negatives or does anyone have positive reserves? 

Key Concepts

• EservGlobal currently has a total of 65 core customer across 50 countries

• Recent partnership with ATM manufacturing company Wincor Nixdorf allows user to withdraw money from their mobile wallets

• Paolo Montessori is CEO and managing director for eServGlobal as of 2013

• eServGlobal's CFO is Steve Blundell

• Non-executive director is John Conoley (more on the management team can be found at http://www.eservglobal.com/company/management )

• In December 2012 the placement of 29,507,815 shares raised $9.557m which was invested in technology and to position the company to be able to bid for substantial projects.

• In January 2013, Shareholders approved a second placement of $7.245m, the proceeds of which were used to fully repay existing shareholder loans.

• Total number of shares on issue are 253,545,997

• Profit for the year is $10,374,000 as opposed to last years loss of ($15,589,000)

• Total assets have increased from $34,439,000 in 2012 to $53,185,000 in 2013

• Total liabilities have decreased from $19,365,000 in 2012 to $15,831,000 in 2013

• Total equity has increased to $37,354,000 in 2013 from 15,074,000 in 2012

• There was a change in financial year end in 2011 which went from 30 June to 31 October

• There was no payment of dividends in 2013 however there was a payment of $111,000 of dividends in 2012

Key events

2013

• EservGlobal posts final year results showing as return to EBITDA profitability and strong growth in the core mobile money business.
• Consolidation of it's leading position in the mobile money space annoucing it has joined MasterCards mobile money partnership program
• EservGlobal announces its joint venture BICS and HomeSend to take it to it's next phase of global expansion
• announcement of a significant framework agreement with the Zain group to deliver end-to-end mobile money services to it's subscribers across countries in the Middle East and North Africa  

 MasterCards mobile money partnership program:               https://mobile.mastercard.com/Partner/MobileMoney/Home

BICS:  http://www.bics.com/ 

HomeSend: http://homesend.com/index.php/homesend/homesend/

Zain group: http://www.zain.com/

2012

• EservGlobal's recharge and mobile money suite, PayMobile, manages approximately $5.31 Billion in transactions.
• HomeSend potential subscriber coverage surpasses 1 billion subscribers

2010

• EservGlobal focuses its strategy on mobile money and value added services and announces its first customer for mobile money in the middle east.

2008

• eServGlobal's successful USP business was acuired by Oracle
• eServGlobal and BICS announce strategic partnership to jointly launch HomeSend, a new service for mobile remittance, roaming recharge and airtime exchange

2005

• FERMA becomes part of eServGlobal and provides a unique ability to deliver end-to-end solutions for all interactive communications and advanced services.

2004

• EservGlobal is listed on the London Stock Exchange AIM Marketing

2001

•  eServ Limited changes its name to eServGlobal Limited to reflect its transformation into a global company.

2000

• eServ is successfully listed on the Australian Securities Exchange

1991

• eServ was founded in Sydney, Australia, as a provider of enterprise hardware, technical services and software solutions.

Background info

The company that i have been designated is EservGlobal. EserveGlobal is an Australian company that was founded in 1991. Their service is mobile finance, which in this day and age is very fast growing. I feel that this company has great potential as we are constantly moving towards a technology based society, and soon physical wallets will be replaced by mobile wallets. EservGlobal has 10 offices and operates in over 50 countries.


2013 highlights

- Profit for the year was $10,374,000 as opposed to 2012's loss of $15,589,000
- Revenues up 17% to $31.0m from 2012
- Announcement of the Homesend joint venture by Mastercard, EservGlobal and BICS to take Homesend    to it's next phase of globalization.

A link to the companies website is posted below. Feel free to let me know if any of your companies are similar to mine.

http://www.eservglobal.com/