It's just the beginning for Spenda!, page-12038

Obvious fact?

I've been pulling apart listed entities since 2007 on HC and believe me the history of the business and management is very important to understand before investing

The ones I pull apart, majority end up broke and delisted, outright frauds, move to another exchange, morph into a new company name repeatedly to hide the truth or a combination of the above

This is the unfortunate destination for overhyped, money losing, poorly managed entities

So far SPX meet all 3 red flags albeit price is down 95% from its peak, some could argue it's safer now to invest, however taking the share dilution into account, I'd say no!

As for SPX, jury is well and truly out and if you don't have that mindset with a proven destroyer of shareholder funds every year for the past 10+ then what evidence do you need?

Name me a company (excluding the chairman) where the directors have increased shareholder wealth over a sustained period?

I can give you 4 currently that are going backwards, but this time is different right?

Assuming all goes well and the business turns over $10m pa, based on history and current status,they still won't turn a profit due to greed,ego, blinkers, poor management and of course proof from years of buying non profitable addon businesses from mates and acquaintances to burn cash, then we have the glaring obvious slow uptake of the actual product and well hidden understanding of the actual income breakdown

Yes this time will be different, I get it, I'll keep pointing out the obvious precautions, you keep staring at the pot of gold

Onto the business...

What will be a par 4C this time around, not including any R and D chargebacks?
What $$ loss will you be comfortable with?

We know from last Q
$15m in loans at 21% yield
$60m in transaction volume
Plus some software/ implementation fees

What cash receipt amount would be considered good based on the previous 3 hovering around $750k (not inc the R and D) ?

No brainer!