Hey mate, I actually agree with a lot of what you've been saying today, with a caveat that the COVID situation in Malaysia and Indonesia has likely disrupted a lot of their plans, but then, why don't they say that? Why don't they put out a meaningful statement outlining just how bad things are on the ground there and whether they've had to readjust their plans/roadmap? There's a lot of die-hard holders here that really should be more critical on the company. A few key things that stick out for me:
Now it's unclear if less than 5k means 4,900 downloads, or like 400 downloads. I suppose we'll see in the quarterly.
I agree their Instagram accounts are a joke - they have two accounts to start, which looks fairly confusing, and then just post random crap to something like 150 followers. The social media isn't hard - just pretty much copy APT, Quadpay, SZL and Atome and you'll be right.
The company had a soft launch/hard launch divide - the implication being that at hard launch you come out with guns blazing - again this may well have been very adversely affected by COVID, but who would know?
Lastly, their actions look like a startup run by a bunch of college kids still finding their way in the business world - they're sitting on a cash pile of $50m, so start acting like it. Go and hire some proper social media managers, marketers and a sh*tload of sales reps to get onboarding merchants.
While they're at it, maybe hire a QA tester to fix the bugs in your nav bar on your home page...
I acknowledge we're only at the start of this pivot, but so far its amateur hour.
IOU Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
(20min delay)