Ann: SWF Results of 2022 Annual General Meeting, page-4

With $10m in the bank, they should be able to achieve cashflow positive without issue.

So why the desire for placement capacity? An acquisition? Or expecting cash burn? Or just a safety back-up?

I don't see how a placement would benefit shareholders at this time.


In answer to my AGM questions -

Why the high marketing cost? Because we're trying to beat the big banks, and some competitors have a big budget (Stake). So I guess Stake burning lots of $$$ means we at least have to burn a bit. Hopefully Stake's method is unsustainable.

How effective is the educational content? They say it's positive, but hard to track the exact performance, as some of the benefits might be 'retained customers' at a time when competitors (Stake) are burning tonnes of money on free trades promotions.