Ann: 9SP and Visa enter multi-year global partnership, page-354

Its an issue of talking the talk signing up many Major companies but not being able to make a profit and walk the SP upwards ..and in turn growing the cap via more shares being issued ..if 9SP mgmt can change this then the SP will follow and we can see the stop of ongoing CR.. just how many million has been pumped into this platform ???

Capital Raise
Under the IPO, a total of 125 million new shares were issued at $0.20 per share and the Company has
raised AUD$25 million. The 9 Spokes IPO did not incorporate any sell-down by pre-existing shareholders.
Approximately 47% of the shares on issue following the IPO will be subject to escrow for varying periods
of time. The majority of shares held by directors and founders will be subject to escrow for 24 months from
the date of listing.
Early stage New Zealand investors demonstrated their long-term support and have contributed a
considerable amount towards the funding, with leading Australian and Asian institutions also demonstrating
their significant support.
The proceeds of the IPO are predominantly for ongoing software and technical development. 9 Spokes
has a significant product roadmap that ensures ongoing development and systems improvement are in
place. The business is focused on launching its platform with its channel partners over the next three
months. Foster Stockbroking acted as Lead Manager to the IPO, with First New Zealand Capital as
Corporate Adviser.
Prior to the IPO, AUD$11.4m had been invested into the 9 Spokes platform through a series of private
funding rounds