I had a bit of a chuckle seeing the cash balance and number of...

I had a bit of a chuckle seeing the cash balance and number of quarters remaining. Why on earth would the company let the cash on hand get to that level which is in obvious need of a CR and has been for quite some time, and release a 4C showing how dire cash levels are knowing full well the SP would retreat on the news. That's called shooting yourself in the foot haha. Now they'll have to raise cash down at say 8c.

The one time they release the 4C during trade just happens to be on the worst results

Is anyone else laughing at this skull duggery?

Laughter aside, the reason they're out of cash is because BNPL is growing. Bad debts again, creeping higher. Management have known from the start that BNPL is not a business model. They've made moves into loans through IDSB and growing the transactions side of the business and pulled back on the amount of cash they're making available to merchants for BNPL. That tells us that BNPL isn't the be all and end all of the business but rather a cog in a bigger machine.

Execution as many have said has been sub par. Not only the lack of communication but the planning and direction as well. I completely understand why many have sold out on this result. The write up provided by the company is very "business as usual" however the financials are telling the real story. They need some cash and they need a credit facility.

No indication of where either are coming from and that's the disappointment that management are inviting.