No chance, SaaS will not start until September/October at the earliest and all of the fee will be cancelled out by the Limepay merger.
At this point we know there are 8 developers coming across and the current CEO I think becomes SPX CTO. So that's 9 new staff. Assuming total cost each is 150k, IMO it's probably more, that equates to new staff costs of at least $337k per quarter. SaaS of 300k doesn't cover it....... There might be more staff coming over as well, I have no clue.
We also don't know the full cose base of Limepay. The market was given inadequate information to be able to work much out. They selectively just included gross revenue and gross profit, both unaudited, in the announcement. Just have to wait and see. We're always told everything is right to go and then boom, all of a sudden they buy out another business for their staff and IP.
Just like "we are adequately funded to achieve our commercial objectives" I must of heard this at least 2-3 times haha.
We are now aware that they failed to either hire the right developers, train them & retain them. Who the hell knows what the reality is behind closed doors.
SPX Price at posting:
0.9¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)