These are ALL plausible, however, point 3 is the least likely in my opinion. There’s simply nothing suggesting Spenda is heading for insolvency, and honestly, the timing doesn’t add up if that were the case. Capricorn for example is literally rolling out Spenda’s technology to its members, which isn’t something you do with a business that’s about to go under. If anything, that shows confidence in the product and ongoing commercial activity. Plus, Spenda’s revenue is growing, and while they’re not cash flow positive yet, they’re cutting costs and scaling up. There just aren't any clear signs of distress from Spenda.
Note: Steini, I know this is information you received from NAB so my comment is more for sense checking point 3 rather than a comment directed at you.
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