https://unauthorised investment advice/tech/ioupay-explodes-out-of-the-blocks-w...

https://unauthorised investment advice/tech/ioupay-explodes-out-of-the-blocks-with-strong-early-volumes-following-launch-of-myiou-bnpl-platform/

.....myIOU launches with impressive early BNPL numbers

“We are very pleased with the early transaction volumes.
Momentum is already building despite being in lockdown,” said IOUpay director, Paul Russell, who * caught up with following the release of the company’s June Quarterly Report & Business Activity Update.
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Russell explained that if the growth trajectory can be maintained the company is not far from covering its monthly cash burn rate with new BNPL net transaction revenues.
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“The company has reported normalised net operating cash outflow of $594,000 for the June quarter after adding back significant once off costs.
We aren’t too far away from breaking even on a net operating cash basis when you consider the BNPL net transaction revenue being generated,” Russell said.
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Based upon the cashflow report announced by the company, the current monthly cash burn (excluding once off costs) is estimated at nearly $240,000 when increased staffing costs are included.
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With over
$51million in the bank, IOUpay has sufficient cash to cover net operating cash outflow for
30 quarters based upon the June quarter figures...
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