A question or two to ask:
The agreement with Fiserv expires around December, what is the probability Fiserv either reduces SPX margins due to obvious lack of transaction volume or worse still pulls the BSA agreement altogether along with MC/ Visa?
Of the $50m DW, $15m is to refinance Moneytech fund/ loans and $12m assume to replenish in-house funds, would that mean funds available would be $35m to lend $23m + $12m?
What is the % amount SPX must fund upfront on each loan advance?
Have any current loans turned into arrears/ bad debts?
What is the company doing to reduce wage overheads given it's now a lender with what seems to be free software attached whereby 95% of its income is from loans, not transactions?
SPX's purchase of APPStab was to enable SPX to target the $235m month in transactions (market using APPStab)
Why is the transaction volume only $1.5m a month when the investor presentation had a target market of $235m month?
SPX now receive $20,000 month in software revenue yet spend $500,000 month in wage cost after 12 months sales and marketing of the software, what has gone wrong to see such a poor takeup?
A question or two to ask: The agreement with Fiserv expires...
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