ZIP made $160m in revenue last quarter annualized at $640m. It...

ZIP made $160m in revenue last quarter annualized at $640m. It has a Market Cap of $790m. It also has a funding facility and cash on hand.

IOU has zero cash. When factoring in IDSB return on investment it really comes down to revenue rather than the value placed on IDSB itself. $500k to $1m per annum is not a great deal. When we first talked about the acquisition this was discussed as an additional revenue stream and it's not exactly living up to the dollars we talked about. There's virtually no value attainable from advertising BNPL back to the IDSB customer database because there's no working capital available for BNPL. Transactions side of the business has the most potential for growth at this point given the recent investment made in expanding capacity. Yet to be determined the extent of the scale however it's not a high multiples business and never has been. There's potential for this to cover operating expenses.

With that being said, a $30m market capitalization is by no means down ramping IOU. It's a realistic valuation based on current operations and peer comparisons.