Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Lateral Lists on NZAX

Lateral Lists on NZAX


Auckland, New Zealand. 18 August, 2014 – Lateral Corporation, specialists in user-pays mobile interactive products and services, mobile payments and mobile marketing, has announced it will commence trading on the NZAX today at 11am.

The listing will be followed by capital-raising intended to raise $1.5 million with qualifying investors, to fund growth ambitions across several markets including Australia, the UK and USA.

Lateral is at the forefront of the creation of user-pays mobile digital products and services. Listing on the NZAX will ensure the company capitalises on its early lead in this emerging market, which has strong long-term growth prospects.

Advances in mobile technology, and the introduction of new generation direct carrier billing, (allowing seamless billing of products and services directly to customers’ mobile phone accounts), mean Lateral can reach and transact with an increasingly large volume of consumer traffic on mobile devices, and to monetise those transactions.

Laterals Viaduct platform, designed specifically for the burgeoning smartphone market, creates and hosts cloud based, digital products, services and applications, manages sales and distribution, and bills customers. In effect providing a direct supply chain where new products and services can come online down the track.

Says CEO Roger Grice “The convergence of technology that combines smarter mobile interfaces with an increased ability to monetise transactions, puts us ahead of the game. We have spent the past 5 years developing our Viaduct platform, which not only develops applications, but can host other applications, enabling us to distribute and bill for third party digital products. “

Growth of consumer transactions on mobile devices is on a steep incline, with direct carrier billing expected to grow to US$12 billion in the next three years.

Board Chairman Dene Biddlecombe says “We are in a really exciting place right now, and the timing is right for us to push into new markets. The NZAX gives us the flexibility to manage the capital raising process, based on the speed of growth in our revenue and customer base.”

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Fuels Rushing In: Govt "Ready To Act" On Petrol Market Report

The Government will now take the Commerce Commission’s recommendations to Cabinet...
• A more transparent wholesale pricing regime • Greater contractual freedoms and fairer terms • Introducing an enforceable industry code of conduct • Improve transparency of premium grade fuel pricing... More>>

ALSO:

Reserve Bank Capital Review Decision: Increased Bank Capital Requirements

Governor Adrian Orr said the decisions to increase capital requirements are about making the banking system safer for all New Zealanders, and will ensure bank owners have a meaningful stake in their businesses. More>>

ALSO:

Aerospace: Christchurch Plan To Be NZ's Testbed

Christchurch aims to be at the centre of New Zealand’s burgeoning aerospace sector by 2025, according to the city’s aerospace strategic plan. More>>

ALSO:

EPA: Spill Sees Abatement Notice Served For Tamarind Taranaki

The notice was issued after a “sheen” on the sea surface was reported to regulators on Thursday 21 November, approximately 400 metres from the FPSO Umuroa. A survey commissioned by Tamarind has subsequently detected damage to the flowline connecting the Umuroa to the Tui 2H well. More>>

Taskforce Report: Changes Recommended For Winter Grazing

A Taskforce has made 11 recommendations to improve animal welfare in intensive winter grazing farm systems, the Minister of Agriculture Damien O’Connor confirmed today. More>>

ALSO: