I don't think the Company is particularly 'desperate for cash' following the CPS raise, and as pointed out in the Query response, actually has some quite valuable assets in the Philippines ("Asia’s digitalisation hotspot”) readying to be capitalised upon:
The Company does not believe the Investor Presentation presents material that would be of concern to shareholders and instead believes the material it contains to be positive highlighting the valuable position created in the Philippines with an:
• Electronic Money Issuer Licence (EMI) and recognised status as a “Non-Bank Financial Institution” from the Central Bank of the Philippines (BSP);
• Financial Lending Company Licence from the Securities Exchange Commission (SEC) of the Philippines;
• Certificate of Registration as an Operator of Payment Systems in the Philippines granted by the Central Bank of the Philippines; and -
• Certificate of Eligibility to join in the PESONet and InstaPay Automated Clearing Houses as a Sending and Receiving Participant under the National Retail Payment System of the Philippines granted by the Central Bank of the Philippines.
PIL Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
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