>It’s absolute rubbish.
Yeah, I made a mistake, but then again, they know investors are reading it.
They're not going to tell the ASX "we're not planning to increase the size so we don't need funding", which investors would then read..
So what then, is the point.
"How will you fund this"
if we need to we'll get funding.
You attempt to frame this as
"we are definitely looking into funding". That is not what was said.
But you then take this misinterpretation of the statement and extend it out to
"they were looking for funding and can't get it because they're failing"
But they're not looking for funding! They keep talking about it because its an investor expectation.
Again, I don't like this and would feel much happier to know how much they've developed, the state of their API's and stuff like that.
>But the brunt of every announcement released in the last 24 months, except IDSB, has been about BNPL.
Announcements... to investors. Investors who will not understand or care about any type of fintech related deliverables.
The insane pump they received from typing those little letters B N P L surely motivates management towards talking about it a lot.
"People invested in this when we said this.. lets keep saying it".
See: market cap pre BNPL
>And the core benefit of IDSB was that they were (allegedly) going to cross-sell their BNPL into that customer base.
Because they have to sell the benefits of them spending that money.. to investors.
I'm not unsympathetic to your argument because you are entirely correct from that perspective.
You're just not reading between the lines; you're assuming the line is the line is the line.
Why do they need 200 staff to operate a BNPL product that most definitely should have its basic functionality automated?
Why do they need deal after deal with new merchants and financial institutions?
Why are they spending so much money on compliance?
If they wrote in their investor presentations "we developed thousands of lines of code at the cost of thousands of man hours to help integrate transactions between merchants on our dime - we didn't make the customer pay a cent!" how would that go down?
That's probably the truth of the matter and instead they focus on BNPL. Seems rational
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- Ann: IOU Provides Mid December Quarter Update on BNPL Business
Ann: IOU Provides Mid December Quarter Update on BNPL Business, page-23
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