On March 22nd company issued the following statement about BNPL...

On March 22nd company issued the following statement about BNPL - " It is expected that the business can be restarted in late March, with a focus on a strictly limited number of existing profitable merchant customers. Cash will be returned to the business as the BNPL portfolio is reduced in size."

"As a result of these immediate actions, the Board is currently of the view that there is enough cash available to support operations, but this will continue to be carefully monitored and assessed on an ongoing basis, and will require the careful management of creditors."

"In order to remove any doubts over solvency and to ensure sufficient cash flow for operations, pending the recovery of the misappropriated funds, the Board has held initial positive discussions with a friendly party interested in supporting the Company during this period."

So we have in theory $7M stolen. $4M of that was operational cash. Our cash burn per quarter was about $1.4M. If that is the case and at the moment we need "operational cash", why do we need $5M? We are cutting everything back, they are expecting cash to be returned over the coming several months with the BNPL being shrunk to a select group of merchants. Is the $5M also to pay for the second tranche of IDSB? This is only going to be paid if the AG licence is renewed and that is not expected until end of April, so if we don't even know yet whether we have the licence why would we be looking at such a large loan amount? I have my theory as to why but have a think about it. A vote coming up at an EGM where potentially certain people don't have enough votes. Several ways to increase your voting power - either buy shares on market - which can't be done because we are in suspension - or do a raising and issue more shares. Just my opinion.