What is Fatfish & its Primary Investments, page-29

@budobank i think your Abelco figures are a bit off; see point C below.

@opinionator; i think FFG management are letting themselves & SH down by not clearly articulating thier vision & plans so all can see & understand the bigger picture here, & follow this unfolding, exciting story, because yes, the next update should be good, with BIG numbers:

1) according to betterpay's website ( https://www.betterpay.me/v2/ ) they're processing AU$2m per day, AU$755m/year:

as betterpay has one simple pricing scheme ( https://www.betterpay.me/v2/pricing ) we can estimate their rough revenue:

betterpay's clip is minimum AU$0.47 or a percentage between 0.5% up to 2.5% per transaction -- the fee depends on how each transaction is made (credit card, debit card, direct debit, e-wallet, etc.):

at the lowest (0.5% fee) the co's income is around $4m
mid-point (1.25% fee): about $10m
maximum (2.5% fee): $20m~

at its current stage of development & using comparable company analysis, betterpay could be valued @ one to two times (conservatively) its revenue (just a ballpark figure as i'm unaware of better figures to work with) = $8m to $20m

2) Fatberry's ( https://www.fatberry.com/ ) annualised sales are currently about AU$12m given that last quarter alone they booked AU$2.78m ( https://*********.com.au/fatfish-group-insurance-business-fatberry-breaks-another-sales-record/ )

as this business operates on commissions their earnings should be:
@ 15% = $1.8m
@ 20% = $2.4m
@ 30% = $3.6m

conservatively, i'd value Fatberry @ 3 times earnings, as it's growing triple-digits & its products will shortly expand from two to six = $5.4m to $7.2m

3) so far we only have information that PaySlowSlow ( https://payslowslow.com/ ) generated AU$50k in sales in its first two weeks back in September. surely that must now be in the range of $250k to $1m per month as they've onboarded +100 merchants; given that PaySlowSlow charges 6% commission/transaction, for every $10m in sales = $600k revenue.

valuations for BNPL, i don't even know where to start
$2m, $10m, $25m... let's say $2m.

4) then there's Smartfunding, ForeverPay...
let's say another $2m.

Total of 1 to 4 = $17.4m, minimum

i think FFG's current MC of $56m is well & truly undervalued, especially considering:

A) $8m~ cash
B) FGG's equity in ICI alone is worth about $20m at their close yesterday of 9.8¢
C) stake in ABIG (MC = SEK177m at yesterday's close which is AU$27m) is worth $13.5m. (i think FFG owns 50.1% of Abelco: https://unauthorised investment advice/tech/fatfish-shares-surge-on-record-profit-for-swedish-subsidiary/ )

8 + 20 + 13.5 = $41.5m

56 - 41.5 = $15.5m

surely betterpay + fatberry + payslowslow alone are worth a large multiple more than $15.5m???!!! these subsidiaries are recording solid sales/commissions/revenues in the tens of millions!
appears we are early to the party

interested in other's valuations!