APT concerns, page-40

As they grow, they will need more funding and to get the warehouse facility, banks will demand that they stump up cash deposit. Therefore APT will have to keep going to market for more equity raising and dilute the current shareholders equity.

On a very generous basis their NPAT (the number that matters in the long run) will be 1% of the total transacted value. so considering the high current valuation and future dilution the stock is priced quiet high.

Having worked in retail credit, I know how messy it gets especially when you grow too fast. It takes a lot of resources to manage the entire back end and customer support.

I am hoping for $25 to go short