Good points Stefan. I just don't think that this group can be assumed to be getting the best value out of their data and . I an sure that you are aware of the Mickey Mouse fiasco, but for the benefit of the uninformed and for my own enjoyment I repeat it below
Copy and Paste.
The statement came after Ownership Matters' "field report" raised apparent concerns with the platform that may result in increased regulatory risk for the platform that is taking the retail sector by storm.
The report, distributed to clients of the governance and accounting firm on Tuesday, detailed how a 16-year old child of a staff member set up an account to buy more than $300 of alcohol without having to verify an age.
More than $250 was extended to a "Miguel Laucha", the Spanish name for "Mickey Mouse", using a prepaid anonymous mobile sim card and VISA card.
The date of birth given was January 2, 2000 and the address was 1 Miguel Place, Walpole, WA 6398. The prepaid VISA card, which carried the name Giftcardholder was entered as Miguel Laucha.
The report said $260 was spent on wine and other goods, despite a $100 balance on the card.
If only sex and tobacco had been involved it would have been perfect
Yes, I know that an anonymous prepaid card can no longer be used. The point is that at some stage it was decided that this was a good idea! Incredible! What could possibly go wrong? Fortunately for the companies shareholders Australians are a relatively honest people and the criminal classes here are relatively unorganised. Some other countries not so much.....
All this discussion about banks got me thinking about comparative value. I think yourself and Nihilism have helped to make it clear how useful it would be for such a venture to have control of a bank.
The fully diluted Market cap for APT at this moment is about 3.9 Billion. This ignores the Matrix convertible note and the employee deal - do you have any thoughts on these?
This value would cover the full value of Z1P plus about 80% of Bank of Queensland or about 70% of Bendigo Bank. Interesting I think.
I did some more field research yesterday and the always friendly sales assistants told me how popular ZipPay is becoming since their new app was released. "So easy" they said.
Regards and
GLTAS
