First half statutory net profit of $3m. Highly questionable if...

First half statutory net profit of $3m. Highly questionable if they are profitable currently IMO.

I believe the business is losing money and as it is primarily deriving income from mortgage aggregation services to mortgage brokers. Hence clipping each loan they settle for a handful of basis points this business suffers the same issue that another ASX hopeful (Au1) from this same management stable.

And just like that business management have failed to scale quickly or wide enough to make it to the safety of profitable shores unfortunately.

Management clearly take pride in beating the drum that they are a BANK but the reality is that so little of their revenue comes from such activities and as we all know post Royal Commission.....BANK is a dirty dirty word.

10x