Ann: B4P Commences Trading on ASX and Provides Operating Update, page-21

hate this company, was researching to short it, can't find anywhere that will lend me shares anyway but the latest update outlines plausible profitability.

this fy they could hit $400m lent (repeatedly off their $45m facility) and defaults down to 3%. so $20m income from fee, $12m write offs, assume $12m op expenses again.
meaning they only lose $4m and survive the FY

however to be profitable they need to more than double to hit $1b pa lent. the growth rate is obscene and default rate falling is evidence of repeat customers, so this is possible, presumably off double the size facility or loan book or whatever you call this crap.

then drop their op expenses to $8m to make a mere $10m gross profit. off $1b lent. off ~$100m loan book.

this will not happen in Australia alone IMO but who knows. I think you will require trash regulators overseas to be as trash as ASIC

wish you the worst of luck going forward, don't forget to teach your kids personal finance