I am not sure if you are being sarcastic, but it's a simple...

I am not sure if you are being sarcastic, but it's a simple mathematical model. They make circa $4mil profit per year, so if you use a P/E of 10, then that would equal $40mil. Not to mention you are buying into the IP/ goodwill and that it is a unique company with 1 of 2 banking licences of its kind in Malaysia then it's clear we got a very very good deal.

IOU now has access to passive profit of $4-5mil per year, a hugely valuable licence and business goodwill and customers to access all from the CR it did at 50cents. If that is not a masterpiece of profiting from a well timed CR then I do not know what is.

@SebbyV

IOU has just expanded its business model, guaranteed itself 4mil or so profit per year, bought into a unique licence, and now can target hundreds of thousands of customers. Yes, of course not guaranteed but nothing is. And you're acting like our BNPL company is sunk because we used some money in the bank - the second tranche of cash will likely be a script offer and paid in shares.

IOU can still turbo charge its rollout through financing arrangements with banks - which is what all BNPL companies do. The customers don't care if iOU has cash in the bank or is getting loans, so not sure why you think this will make a difference.

We can all have different opinions, but think some inexperienced/young investors are seeing some red today, and automatically calling the announcement a fail. if you expand more than a 24 hour window, you should be able to get perspective that IOU just became a profitable business. It also has just made itself multi-faceted, and potentially able to apply for digital banking licence in 2022 onwards (if Destinasi hasn't already).