Ann: March Quarterly Activities Report, page-78

@DanMachine the thing is that SQ2 is in that space where it's too big to fail now and APT was the first of it's kind. Inflation didn't have any impact and the appetite for BNPL was insatiable. As in the SP for APT went from $8 to $100+ in less than 12 months off a business model that was never profitable.

IOU haven't shown strong leadership when it comes to financial decision making. Many have been uncomfortable with the reasoning for the IDSB acquisition because of the massive amount of cash used. The communication or lack thereof and no current roadmap to speak of and the almost non-existent cash balance would have many questioning, "where to next?".

I'd say if the company can answer the questions regarding the direction via a roadmap they'll be able to raise capital however with that being said, many shareholders have now been burned because management failed to execute the previous roadmap as they stated they would. There was talk of expansion across SEA and yet we haven't seen that. Instead there was a massive acquisition which wasn't even in the realms of the previous roadmap.

It'll be interesting to see what happens from here, good or bad.