Ann: Quarterly Report (Appendix 4C), page-51

Why would anyone buy them out? I mean just look at the metrics... I'm sorry to say, but really no-one uses it? Also just think about how silly the user experience is (my mind has changed on this and that's why I sold).

I mean let's say:

• You have a $12,000 credit card limit
• You make a $12,000 transaction split over 12 months
• Your balance is tapped out, unwinding at only $1,000 a month
• You suddenly have no headroom in your credit card, whereas with at traditional Visa card or on Afterpay/Zip, you would be forced to pay it back very quickly

That's just a part of it, Splitit just doesn't have the 'sexy' user experience that Afterpay has put in its product to make millennials and Instagram-wannabes jump and take on debt to buy the latest clothing and jewellery that will date in one week.