Thanks to ZIP, SZL has an extra AUD $16m cash inflow this...

Thanks to ZIP, SZL has an extra AUD $16m cash inflow this quarter, plus recently announced AUD$105m in cash/available funding.

The detail in the original merger document actually shows a termination fee of AUD $31.4m payable by ZIP.

The reduced amount of AUD $16m agreed upon suggests to me that the termination was not completely one-sided so you have to wonder why, if ZIP was going to be SZLs "saviour", as many people here thought.

ZIP has more cash of course, but take a look at the balance sheet - total borrowings and especially the intangibles / goodwill totalling $1.1b. It will be a tough job proving to the auditors that the intangible balances are not impaired at 30 June, especially if they are backing out of certain areas as you say. What costs are involved in that closure process? Sezzle has around just $1m in intangibles and unlike ZIP is not backing out of or reversing previous decisions which indicates that they are more focussed, a sentiment mirrored in the relatively sparse and factual SZL announcements over the last 6 or so months. I'm interested to see the next quarterly as those draft numbers released on 12th July suggest a major turnaround and SZLs best ever quarter - an unexpected result given all the negativity.

The RBC analysts should be embarrassed as their previous target was $12, suggesting they actually have little clue. Or perhaps there's another reason driving their analysis.