Thanks again tutor, maybe I can make a contribution on this...

Thanks again tutor, maybe I can make a contribution on this occasion lol .... given that a Balance Sheet is made up of Assets equalling Liabilities (loans) and Proprietorship (shareholders' funds), and it's the end game, and it is intertwined with the Profit & Loss......the write off of the $132 mil Notes wiped out a Liability in the Balance Sheet, so it needed to be recorded somehow in the P&L....either as income or more properly 'negative expense' because the net effect was to reduce the 'L' and increase the 'P' in the A=L+P. Some people have called it dodgy Accountancy and it is a quirk, but it is necessary to keep the Balance Sheet tidy lol. Hope that makes sense. Whatever the case it was good news for ZIP.

One more question: acknowledging that you are careful not to give advice; given that regulators and authorities have given BNPL operators an easier time than hitting them over the head as first threatened; that it is acknowledged that the industry will kick on (in volume); that at this stage the big players with deep pockets don't want to get involved either through equity or competition - and given that there seems to be a clear path to survival if nothing else - does the current position represent a ground floor opportunity?