Ann: 2017 AGM Presentation, page-88

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nichw1

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25/11/17

16:22

Post #: 29114204
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Originally posted by Fike ↑

I do not know whether to laugh at your response or feel sorry for you but here goes.

If you look at the front page of their report it says losses in 2016 were $3.7 and in 2017 losses were $14.4 @ the comment says losses went DOWN 289% . No the did not. They went UP 289%. If you cannot understand that then you cannot add up.

Also it is clear that many on here do not understand the basics of credit cards so here are the basics. The bank issues a credit card with a limit. When you go to a store or online and give them your card . They swipe. If the transaction is accepted the retailer hands over the goods. The bank and card co now have full credit risk for the transaction the retailer does not. Regardless of fraud or default the retailer has NO liability or risk unless they participated a fraud. Once the online system accepts the card the retailer is clear - even if th card is stolen,!!!!!

The retailer will get the full value of the transaction less the merchant fee which is just over,1%. If it's a fraud or the customer defaults all the liability is with the credit card company. That is why retailers will hand over a$5000 watch if the card is accepted at the time of the transaction. It will be the credit card co that chase says you for the debt or fraud.

That's why credit card interest is around 20% .

AMEX is not a credit card it is a charge card. They charge the merchant over 3% but do not collect or charge credit from the consumer. They do charge late payment fees - around $50 I think. The high merchant fee is why so many retailers etc. refuse to accept AMEX.

Now I see why there are so many misguided comments about APT. Many on here do not even understand the basics of credit card fees and liabilities.

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AMEX has a interest rate of 20.74% PA aswel as late fees..... Idk what AMEX your referring too but you can find those figures on their website!

APT Price at posting: $5.23 Sentiment: Hold Disclosure: Not Held
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Ann: 2017 AGM Presentation, page-88

Top Stories

Orthocell wins first international approval for nerve repair product

Droneshield shares move up on $13.5M US govt contract

TMK Energy kicks off drilling for new pilot wells in Mongolia's vastly underexplored Gobi

West African Res jumps on claim mine safe under Burkina Faso's junta; HotCopper ponders Russia

Litchfield boosts its copper, base and precious metals footprint in the NT with acquisitions

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