General Discussion

I thought I would start a General Discussion thread. I know everything is focused around current events from the courtroom hearing, insolvency prospect, CR raise, election of new BOD, etc, but wanted one where we can come in and talk either general points or areas that don't fit to other threads.

I wanted to start by discussing IOU's core businesses and what we might expect.As of yesterday (according to Ben from IOU) we have 40 employees. That is down from 135. He has stated he thinks that will be the stable point for now.

As far as I am aware we have two main areas for revenue
1) Digital Payments. This has been part of IOU before it was IOU. Dates way back to Donaco days and it is the core of IOU revenue and being a profitable division. They updated their data centre at the start of this year to accommodate what they said would be a large anticipated increase. That has been the case. They reported over 90 million transactions for the past quarter. It might be fractional margins for each transaction, but it is a good base for IOU

2) IDSB. This we have dividends being paid, which are increasing. This one is a bit of a grey area for me right now as to what we will be doing.

Previously the conversation was about utilising the client base to promote BNPL and other services. Obviously, the BNPL part is no more, so we will have to wait and see what they propose.Last update from the company didn't mention anything in regards to the Shariah component. They announced we are now Shariah compliant, but I can see in the latest announcement by IOU under "Restart of BNPL Service andRevised Business Strategy" that there is no mention of this. There is also no mention of other territories which had been on every previous road map they have published.

Obviously the BNPL for them will be either shut down or sold off. The failure to get wholesale funding I believe, is the main driving force of this, as previous statements from IOU always said we were cash flow positive from these operations.

Where do we go from here? I am not sure. It is obvious there are several main things right now
1) How much can we recover from the stolen funds.
2) How will we fund ourselves over the short to medium term.
3) The voting at the EGM as to whether the same BOD stays in or they are replaced.

For me, I still believe the core business of IOU is solid. What drives us forward and allows us to grow from here is the million dollar question. I know what my choice is. Everyone else needs to make their own choice.I hope this thread can be a meaningful one where people can share their opinions of the company and it will become rich with information for people to refer back to.