The vendor of the Emerchants pre-paid cards business failed to earn any contingent payment for a second year in a row in the 2012 financial year. Adept Solutions, the new owner of the business, failed to meet both revenue and profit targets.Adept Solutions is an ASX-listed micro-cap repositioned by its executive chairman, Bob Browning, the former CEO of energy group Alinta. Adept acquired Emerchants from the Globetrotter Group in July 2011.In the year to June 2012, Adept reported a statutory loss of A$10.0 million, close to twice the previous year's loss. The firm put its "gross profit" for the year at $3.4 million, up 85 per cent.However, the cash burn rate over the year was in excess of $8 million, which was in keeping with the reported statutory profit. Cash is flowing out of the business thanks to heavy investment in technology, premises, sales and support.Adept also incurred losses on its residual mining interests.However, some other metrics are more positive for a company that aims to grow the 10-year-old Emerchants business into a meaningful provider of pre-paid payment solutions.Card numbers, transactions numbers and funds loaded all doubled over the year. Funds under management at the end of the financial year were 83 per cent higher than the year before.