What does iSignthis Ltd do?
Based in Melbourne, Australia, iSignthis Ltd [ASX:ISX] has been granted patents that significantly enhance online payment security and internet identity to assist eCommerce operators meet ever increasing compliance requirements, to combat online fraud and money laundering. Their patent is an easy identification verification service that unlocks the identity from regulated e-payment instruments by using the data and metadata associated with routine electronic transactions.
Entities that require customer identification can now use their standard e-payment transactions to provide a basis for anti-money laundering regulation compliance, safeguard against online fraud, whilst also processing payment for their services.
According to the company, they are the first to specifically offer identity proofing of persons in conjunction with payment services.
Anyway, that’s a good story, but what is the chart telling us?
What does the chart look like?
I find it helpful to bring up a chart. Here’s the daily chart of ISX.
Formerly Otis Energy Ltd, which then acquired ISX, the company delisted in December last year and relisted in March, as ISX.
What now for ISX shares?
This stock has formed a higher bottom that now gives you a reference point. It is up again today in early trading.
With company’s ASX transition now complete, the company is now focused on announcing new contracts and generating revenue and promoting their services, especially in Europe where they believe the greatest opportunities are. The chart will tell us soon enough.
Initial indications suggest the business model is at least satisfactory. You can get some more ideas on reading charts here.
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