You are about to deliver the most exciting mobile engagement platform for the world in 2016, starting in China and rolling out across the world from there. I’m very proud of you all, you’ve done a fantastic job this year. This year we’ve struggled to address some of the issues that we’ve had to deal with along the way but really that is now behind us and I see us moving into 2016 in a very strong and positive way." Wagner then alludes to issues with the company, saying: "There is no option for failure. 2016 will be the year we deliver that success." He says that the business is on track to become "a fantastic growth business in 2016 for us, our shareholders and our customers.” Wagner says in the video: "We’ve been focused on delivery but we haven’t yet delivered everything we need to make this company into the great success we know it will be. At the time, Wagner called the deal an " 800 lb gorilla" and forecast revenues of $5 billion from the deal. Powa signed a deal to take it into China in early December. He says: "That’s the focus of this organisation, it’s all about China.” The video begins with the song "I like Chinese" by Monty Python playing in the background before Wagner says "It's all about China" in simplified Mandarin (although Wagner says it is Cantonese) and English. But last month it collapsed into administration with just $250,000 in the bank. Problems first emerged when Powa failed to pay staff on time in January. The payments company was once reportedly valued at $2.7 billion (£1.8 billion), and it raised at least $220 million in investment funding since 2013. I want to push that into delivering staff bonuses and providing reward when we deliver 3.0 in Tag and China UnionPay at the end of January and the other deliverables that we have around Taiwan, all happening in the early part of Q1. At the moment I can’t commit to that and that may have implications for the way in which we deal with staff bonuses at year end. Account icon An icon in the shape of a person's head and shoulders.
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