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19.5¢ openpay group ltd

Announcement should be any minute. Unless I'm wrong lol

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Tekvest

7,451 Posts.

962

03/02/23

16:28

Post #: 66059850
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Originally posted by prosperity: ↑

There is 1 positive in this report.
1. Debt drawn down is up by around $20M (net of cash increases). This implies that the business is growing. Alternatively, it implies customers are delaying payment or there is a larger proportion of long term plans.

2. The fact that Openpay wants to draw down on more debt in January suggests business growth is fast and it needs funding to enable success. Meydan is thinking twice about coughing up, resulting in breach of covenants with other lenders, of which terms are kept secret from shareholders.

Let's see how this pans out. I'm expecting bad news following this delay.

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Announcement should be any minute. Unless I'm wrong lol

OPY Price at posting: 19.5¢ Sentiment: None Disclosure: Not Held
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