Ann: Further Information on contract with Bank of America, page-34

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27/08/19

12:19

Post #: 40171442
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Originally posted by Sharetrader78: ↑

Well I really purchased without a huge amount of study or expertise in the tech sector
And though the BOA ann would have meant a major income source ..but sadly not and yes I could well be completely wrong here but I've always had the trading motto of "when in doubt SELL the fick out"

A post on another forum -from a guy that had purchased in the early days of 9SP

BOA agreement

-"A one-off implementation fee".

This fee covers their cost for setting up the platform. The value from this is zero as it is all expenses.

- "A licence fee for 3 years".

It says 25% of FY2019 revenue. This equals $2m as FY2019 revenue was approx $8m. This is peanuts as the company burns that much money every quarter.

-"Income derived from an app marketplace."

This is hypothetical revenue as it requires users to be on the platform and purchase apps at a 20% margin. Since IPO, the company has never generated any significant revenue from this.

And want really sold me is would I use it ... how many BNZ customers use it ? what's the feedback ,how many business owners on here use it ?

Just don't think it's as great of platform as we are being lead to believe IMHO

DYOR

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LOL,,,,,, if the poster 'bought in the early days'.... 20c?......he is likely VERY bitter.... imo... or someone sacked by the co.... or both!
BOA took 2 years to execute.... very thorough.... and very hard to engage...imo
I will take theirs (and OCBC, VISA) ..... DD ahead of any scorned ......chat site punter... with an axe to grind.... his numbers are completely misleading to boot...imo
However I agree sharetrader78,,,, never invest in anything you do not understand....
DYOR

9SP Price at posting: 2.7¢ Sentiment: Buy Disclosure: Held
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