DataJack launches USB modem with $40/month unlimited 3G data plans

No? Then you’re the perfect candidate to sign up! 🙂

Holy cow… someone was invoking PT Barnum a couple of blog posts back. Make that a double scoop, pleeze.

Succinctly, yes. Quite a bit. Even if you don’t know anything about OTC-traded companies, at least check on Quamtel, then WQN.

From the ToS and coverage map it looks like they’re a Verizon reseller. I’ll have to confirm that though.

Could you please cite your sources? I’ve done searches on WQN, Attomic Guppy Inc, and Quamtel and come up with nothing that would justify the level of derision you have for this company.

They were a card reseller, specializing in international calls. They’re silver rated with the BBB, which isn’t great, but… They’re not listed as crammers or slammers. And their VoIP offering, from what I can tell, isn’t beloved but isn’t hated either. It looks like they’re buying service off of Verizon and reselling it, at a reduced rate, like a number of companies have already done in the cell side of the industry. What do you know that I can’t find? Please share.

Conducting due diligence would require more than simple Google searches, but we’ll just go with Google 101 and fortify it with some common sense and see what we get: DataJack’s OTC symbol is QUMI.OB. You can read their first and only 10Q here: http://biz.yahoo.com/e/091116/qumi.ob10-q.html WQN is a VOIP reseller…”A substantial portion of WQN’s revenue is derived from the sale of prepaid service to customers calling from the United States to India.” For the 3-month period ending 9/30/09, their gross rev is roughly $500K, compared to roughly $900K for prev year period. They have a net loss of about $1.5 million. Some of this is due to one-time expenses of forming a new company (Quamtel), and some is due to “increased competition.” There are more financial nuggets if one wants to read further. Suffice it to say, they are an OTC company, they aren’t making money, and now they’ve just formed… Read more »

Correct, before that date they were Atomic Guppy Inc, which merged with WQN, to form the new holding company which owns DataJack Inc. I’m following all that, and everything you’ve stated, I saw doing Google Searches. If you look at Atomic Guppy, they’re actually increasing there share price quite a bit. They are currently at 2.64 per share. The last major purchase transaction on the OTC:BB before the merger, and the 10 to 1 reverse split was at twenty cents a share, which works out to a current share value of two dollars even. The last major sales they’ve had were in job lots of five hundred thousand (fifty thousand of the current shares) by what appears to be an individual person, who sold at twenty five cents per share ($2.50 post split), at what was the hight light of Atomic Guppy Inc’s final year (Q3 09), when the company… Read more »

In online quibbles, I fully understand it’s easy to take the other’s words out of context. Still, I have to ask you to not put words in my mouth. No where did I say that this outfit is a fraud, nor that their business model isn’t credible. You don’t have to know much about business or business models to understand that a company that just pop up pretty much overnight, with a track record of losing money, isn’t one to rely on for something as critical as your communication needs, not when you’re paying $140 up front, and $40/month. That, and any modicum of common sense should tell you that reselling “unlimited 3G data” for substantially less than the telco, at a time when the telcos’ 3G networks themselves are straining under the load of just the smartphones’ 5GB/month requirement alone. That USB modem is to be hooked up to… Read more »

How about the VoIP brands? Did you find anything about those, like Voip Inc closing down with debts in millions, then WQN somehow emerging? Your Verizon guess would be unlikely against that context.