ASC 6.67% 1.6¢ adultshop.com limited

ASC wow what a reaction, page-2

  1. 1,044 Posts.
    Mmmmmm,

    Been reading their report and noted these remarks:

    "The Company's online erotic entertainment division's membership base
    recorded exceptional growth in the six months ended 30 June 2002,
    resulting in the revenues and earnings referred to in the table
    above. Unfortunately, a consequence (if this growth was an increase
    in credit card processing costs, including levies for rejected
    transactions. If this had remained unchecked, the long term integrity
    and profitability of the online erotic entertainment business could
    have been jeopardised. Therefore, in the last fortnight, the Company
    made the decision to outsource its billing solution in order to
    protect the long term integrity and profitability of the online
    erotic entertainment business. A more stringent membership validation
    process, which is part of the new billing solution, substantially
    reduced the membership database. The database is now in the process
    of renewed growth."

    Levies for rejected transactions? Could be these guys have been subject to a major credit card faud?

    Interesting to say the least.

    fergl


 
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Currently unlisted public company.

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