Dan, the IOU business is currently three core pillars, in order of age:
(1). iSentric (2). BNPL (3). Their IDSB investment and associated plans
If you want a guide of what sort of opex burn BNPL is responsible for, look at the 2020 quarterlies pre-BNPL. Then look at what their opex is now, and remember that (3) started out just as an investment, not an active part of the business (they are still waiting on AG Code renewal, and figuring out how to cross-sell etc). So take a look at their quarterlies when they basically were just running iSentric and compare it to today. It really is that simple.
Here's two examples:
Staff costs. Before BNPL, at 30/06/20 they had seven (7) staff. Staff expenses were ~$370K per quarter. After BNPL, at 31/21/21, they had one hundred and thirty-three (133) staff. Staff expenses are now ~$1M per quarter.
Admin/corporate costs. Before BNPL, admin/corporate costs were ~$256K per quarter. After BNPL, admin/corporate costs are ~$1.3M per quarter.
IOU Price at posting:
5.8¢ Sentiment: None Disclosure: Not Held
(20min delay)