in this scenario the credit facility is somewhat secured against the profitability of IDSB, which we know thanks to the AG licence can be considered to be a pretty reliable source of profit.
So if we throw some numbers into the air and say $25mil credit facility payable over 10 years at 10% pa. That’s about $2.75mil payable each year. We assume $6mil profit from IDSB x IOU’s 42% = $2.5mil, throw in a couple of $250k dividends and that’s our annual repayment obligations covered.
The credit facility can be used to grow BNPL, but that same credit facility is not dependent on the success/profitability of BNPL, but rather it is paid for via our investment in IDSB
IMO
GLTAH
IOU Price at posting:
11.3¢ Sentiment: Buy Disclosure: Held
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