AXA Relationship / Convertibles, page-5

"The JV cessation works both ways"
It does work both ways to some extent, but one side asked for exclusivity to be removed so they could speak to competitors, and the other side will have to replace 94% of revenue if they leave. So it does look pretty one-sided. The “opportunity to expand its client base” is just management using NLP to re-frame a problem, isn’t it?

What concerns me is this:
“Evolution of DCA’s relationship with AXA Health following the agreement to remove their mutual exclusivity obligations”
This evolution was requested by AXA, wasn't it? DOC didn't initiate, and therefore probably did not want to remove the exclusivity.

"This HAS to work or Doc goes under, right? No AXA no business."
I suppose that's what I was getting at. AXA holds all the bargaining power. Why did they agree to those convertibles at those terms?

"All customer reviews show that."
Have you seen the Google Play store for Doctor Care Anywhere (sort: Most Recent)?

"That's been fixed. AXA is happy."
I want to believe it, but there's been no comments from AXA. (e.g. 'we value our relationship with DOC, and we’re happy to invest in their future')
All the statements about their commitment have come from DOC, and no time frame is given. Maybe it's just for the interim, while negotiate with others?

I don't think we will have time to get out of it, if we're wrong.
If they convert those Notes in 2024, register the shares, I'd speculate that this stock will sink 50-90% at open.

Essentially AXA have negotiated very similar terms to before in terms of profit sharing… except now they are also free to talk to competitors (which they requested), they only have £5m at risk vs £10m previously… AND if the stock bounces on profitability, they can get out even sooner.

Promise I'm not trolling you. Just trying to get my head around this very odd looking deal. I appreciate the time you're spending to give your view mate.