Ann: Quarterly Update and Appendix 4C, page-11

You raise a valid point that OPY is looking to play in a different space than the other BNPL players, and hopefully for holders that will bear fruit.

I don't for a second believe the APT valuation is realistic though and my opinions above re OPY are the same for the rest of the sector. I'm curious at what the 3-5 year game looks like here, across the whole sector. There are now 6 (maybe more) direct competitors in Australia offering the same or very similar service, and many others in other countries. I don't think this is sustainable and there will be a shakeout at some point