wow a lot of money wasted on broker channel, fund costs and marketing IMO.
As direct money has managed to quite easily sell their past monies out, little need to spend $300k on marketing and $250k on broker support IMO.
$550k then $400k (costs) = $950k could be better spent on 90+ new loans IMO.
$1m for collateral to lenders seems high, albeit i'm unsure of their loan book size.
**Investors would take the loans without collateral if given enough meat.
Seems to me to be somewhat of a 12 month bandaid solution, guess it's better than nothing marginally, could simply selloff the current book to private investors and get roughly 1.5 x earnings.
Only leaves $2m or so for new loans written, which is pittance and could be lent in a matter of a few weeks.
Then there is the dilution issue.
Anyway, cash is king and get it however you can I guess.
DM1 Price at posting:
4.5¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)