Clearly most folk aren't looking at Zips own projections... If they did, they'd see break even requires huge growth ( as you mentioned), which would also require further imminent large capital injection, to support the book, but also to plug the leaking hole that $25m-$30m in annual losses have put in the business.
While APT have bigger bad debts, they at-least have the growth to kick the pebble further down the road in the short term...as they are give or take profitable.... Zips more capital intensive model, at least in my eyes puts them in a far more precarious position, which when you couple with huge losses, growing arrears... means they will need a major capital injection soon.
OS Expansion, page-18
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