Excerpt from the Sept Quarterly:"During the quarter, Change...

Excerpt from the Sept Quarterly:

"During the quarter, Change completed the acquisition ofthe assetsof Wirecard NZ &Australia.The asset sacquired by Change represent the Australian and New Zealand assets and operations of Wirecard which provides innovative card management and payment platform solutions to banks and financial institutions as well as digital brands and FinTechs.The technology is active across more than 35 countries,with over 120 customers and pro-forma revenue for FY20(1,2)was A$15.4 million.The acquisition of the Wirecard Business represents an EV/Revenue multiple of 0.5x(1)based on FY20 revenue of approximately US$11.1million (A$15.4 million(2)).The acquisition was completed on 30 September2020 with effect from 1 October 2020. Cash receipts from customers relating to the acquisition will start in the December 2020 quarter."

For the September quarter, Prior to the acquisition, the revenue from customers was reported at $114,000 for the quarter.
For the September quarter, The net money spent, or cash burn rate for the quarter was: $899,000
But this December quarter will have a wirecard revenue of $15,400,000 /4 = $3,850,000

This should put the company into a profit? Or at least stop the cash burn. Not very sexy I know.

Perhaps the secret to a high valuation these days is to just never turn a profit.