Ann: IOUpay Provides Product Development Update, page-66

> well isn't IOU doubling its loss?
>Opex loss of circa $4mil in FY2021 vs circa $9mil loss in FY2022 - and yes that is a terrible shape we are in.

IOU expenditure : 19 mil, revenue 10 mil
Grab expenditure : 4.3 billion , revenue 635 million

So is share price a function of loss? I'm confused how investor sentiment works Kev. How is 3.6 billion in losses worth 11 billion US in market cap? They lost 2.7 billion the year before and yet still manage to soldier on. And yet you're concerned about 9 million being the end of the company.

Which isn't even really a loss since it was (partially) spent on actual development.

Grab wasted money on incentives, ie, they gave it to people. "Heavy investment on growth", they call it.
See, that is a loss. They gave it away, ie, sold their products at a loss. The product Grab is selling is not worth the price to customers.


Is IOU *operating at positive cashflow*? No. But its development time. Show me other companies in development mode that are making money immediately. Even companies in full operational mode are losing (and how!).

>It can't even organise a warehouse funding facility up till now.
Have they applied for one that you know of?
Read their activity report, they don't think they need funding until december 2022.

And again, why would they organise it now when they'll get a worse deal? They haven't been operating as a lender for 12 months. You think it would be better they take a bad funding deal just to say they have it?