You recall correctly. My issue was with the dollar amount used and whether it was too much in terms of the benefits they started in the reasons for the acquisition. Over the following two to three days I conducted research on the demographic that IDSB was servicing and that IOU would gain access to (civil servants). The direct ROI (approx $4m for the first year and higher in subsequent years dependant on IDSB growth) was evident initially however my concern was about whether this would aid in growing the BNPL side of the business. Once I was able to validate the benefits stated in the initial announcement I became comfortable with the amount used in the acquisition.
The information was clearly provided by the company, my job was to validate the claim. This process was fairly straightforward to me as my ability to research is above average because of my technical skills. Perhaps it's not as easy for others to be able to find that validating information? I believe when any company makes claims the investor should always to their own validation of those claims. I also suspect there's a limit to what the company can state about future outcomes as the ASX may prevent such speculation.
Razer was delayed and we were informed by the company as to why. They also indicated new timelines. On the technical side of it, IOU does show up in the source code for the Razer payment gateway. My belief is that in the next business update we will receive confirmation. As expected as part of the explanation around the growth numbers e.g. sales increased X amount based on Razer integration go live, onboarding of merchant X, etc.
The information will be in the business updates. What I'm hearing though is people want the information as it happens and more regularly. That's ok, I wouldn't be opposed to it either.
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