Breaking into new markets is great a great step for any company, especially if that is largest market in the world, China. One Horizon Group Inc. (NASDAQ: OHGI) is the newest company to endeavor into this giant, and it comes on heels of one of the largest e-commerce giants in the world. That being said, this small-cap or micro-cap company has had announcements regarding China in the past, and its trading volume explosion on Thursday is exponentially higher than the few thousand shares seen on many trading days.

One Horizon announced that its Chinese retail voice over Internet protocol (VoIP) service, Aishuo, now supports all the major Chinese mobile payment platforms. The platforms explicitly mentioned by One Horizon include China UnionPay, Alibaba Group Holding Ltd.’s (NYSE: BABA) Alipay and Tencent’s Wechat Wallet.

Aishuo broke into China when smartphone users began to download it in late February 2015. Only just recently the app has eclipsed the 3.5 million download mark. For a basis of comparison: on May 13 the company announced that it passed 3.0 million downloads.

At this time, One Horizon is looking to acquire 15 million new subscribers on its mobile VoIP service over the next two years. The goal is to leverage the user base to generate industry average revenues per user for similar social media, mobile advertising and mobile VoIP apps.

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Because these Chinese mobile payment platforms are supported by Aishuo, users will have the option to purchase Aishuo credit, which will allow them to subscribe to a range of premium Aishuo app services.

Brian Collins, founder and CEO of One Horizon:

From a monetization perspective this is an important development for Aishuo, as our premium features are now easily funded through all of the most popular mobile payment platforms in China. Combined with our significant increase in the app download rate, we expect a ramp up of revenues from premium services as customers choose to add low cost voice minutes and rental of Chinese telephone numbers to their app usage.

There are a couple different standpoints to view this announcement: a skeptical perspective or an optimistic one. Normally, when one see moves and announcements like this, it leaves one thinking that either genius has occurred or something entirely different.

Oneadditional thing to keep in mind is that One Horizon, on top of being a small-cap or micro-cap stock,is based in Ireland. The company’s investor relations site says that the contact information is in London and the Investor Relations contact is in New York. The company also says on that IR site that it has operations in Switzerland, Ireland, the United Kingdom, China, India, Singapore and Hong Kong.

The company had $3.2 million in cash at the end of December 2014, which includes proceeds from a private placement of $3.5 million that closed in December. One Horizon had $24.4 million of assets and $17.0 million shareholders’ equity at the same time. Revenue at the end of 2014 was $5.12 million.

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With about two hours left in regular trading Thursday, the company had traded over 21 million shares, compared to its average number of shares outstanding of 32.981 million as of the end of December 2014.

Shares of One Horizon were up over 150% at $5.18 on Thursday afternoon. The stock has a consensus analyst price target of $4.05 (from one firm only, and an unknown firm named SeeThruEquity) and a 52-week trading range of $1.03 to $5.84. The company has a market cap of $172 million, after this massive pop. The image below shows how little this stock has traded on days when there was no news.

Unfortunately, this is one of those small-cap and micro-cap situations where speculators, traders and investors may have far more questions than can be easily answered.

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