As you say on the face of it the CN appears to provide greater...

As you say on the face of it the CN appears to provide greater incentives than current on-market loans for the lender, thus is the nature of the beast i.e. should the lender not benefit from conversion of debt to shares then there's the 10% cash payment premium that will provide a bonus. Swings and roundabouts? Yeh, I appreciate that some outcomes are more generous than others.

Is Dom's stated focus on avoiding dilution a more expensive route to growth? Or as mentioned above, has this focus changed with the new CN lending arrangement which provides for the issue of substantial new shares at a potential discount i.e. dilution. In which case would a CR have been a more cost effective route? Maybe not, as CR's have their own cost structure and discounts to SI's = dilution. Hmmmm?


Dom needed the cash quickly for the Track purchase before cm8 had time to established a track record. This was always going to result in additional costs above normal rates. The question is, would the lost opportunity cost of missing the Track deal really (fomo) worth the costs of pursuing the purchase i.e. Dom's assessment (financial advice) was that there's greater net benefit to cm8 by purchasing Track. Only time will tell - so long as everything stays on track i.e. Track integration and app expansion = sustainable growth. We are all watching this space.

Or did Dom already have Track factored in to his grand plan (advanced understanding with Tack vendors) pre the 2015 IPO. The IPO might have been the only way that Dom could proceed to obtain Track i.e. as a private operation Crowd had no reasonable/affordable access to such large sums, so a market listing was the only avenue. Basically, an ambitious high risk leveraging of his own private Crowd investment by float it, then borrowing against the equity of cm8? We will see if greed wins out.

Welcome Patient! Your post is very timely.