Yes, of course I did. I'm astounded that people don't do basic research into their investments. It is there in black and white, as Warnie has recently discovered, much to his horror for whatever reason.
I am under the impression that the revenue sharing was for payments revenue, however as we all know (or do we?), Capricorn have given up their rights to payments revenue in exchange for 100m options.
This is supported by the fact that Spenda, in their announcement dated 16/10/2024, stated that they will receive $18m in revenue at a 50% uptake of SwiftStatement subscription fees annually.
However, if I'm wrong, and Capricorn take a % of the $99/month fees for SwiftStatement subscription, it is inconsequential. SaaS fees, as we have been told, make up only 10-15% of revenue long term. So in a worst case scenario, if Capricorn take 50% of SwiftStatement Saas fees (it won't be anywhere near that, but for the sake of this argument), Capricorn would take $9m annually as their share. If as stated, Saas revenue is 10% of total revenue, then Spenda's share of that revenue is $171m to Capricorn's $9m.
Remember, that is a worst case scenario.
Not so bad is it?
SPX Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
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