Re-rate Potential, page-57

Troyka, depends on how big the deal is in revenue potential for 9SP. But you can imagine it will have enormous potential.
There are plenty of Fintech Companies listed on the ASX with $100 million MC and not making a profit.

The current BNZ deal has about 100,000 active business customers signed on so far and growing.
Current MC of 9SP is about $20 Million and the Company is about to break even and has about $3.5 Million cash at bank.

Tier 1 US Banks have a massive number of small to medium business customers.
Bank of America alone has 3 million small business customers currently and many larger businesses as clients. If 9SP were to complete a deal with BoA in coming weeks it would be a massive rerate. If even only 25% of their customers started using 9SP's business products that would be a massive 750,000 more users, or 7 times the current number of NZ businesses. So you can do the numbers on the potential revenue side, the USA is a massive market.

Bear in mind the Company has a MC of $20 Million, so potential to rerate is massive.
They have a European Bank deal in the pipeline, they have the Visa USA talks in progress and the Tier1 US Bank close to being finalised. All of these are potential catalysts for a significant rerate based on significantly increased revenue potential for the Company moving forward.

USA Tier 1 Bank deal close to finalisation.
European Bank deal in progress.
Visa USA talks progressing.
Microsoft co-selling agreement with Microsoft

Growth Channels:
Continuing the Company’s strategy of working with key partners with strong banking associations, 9 Spokes announced a commercial relationship and co-selling agreement with Microsoft and as well as discussions with Visa USA; both to support the growth and distribution of the 9 Spokes platform and to extend the sales model through global distribution partnerships.

There are number of new Enterprise Channel opportunities under development across Asia, North America and Europe. Discussions with a tier one North American Bank now at an advanced stage. The Company also successfully delivered a paid Proof of Concept (POC) to a major European Bank during the last quarter of the year.