iSignthis CEO John Karantzis plays the Wirecard

https://www.copyright link/rear-window/isignthis-ceo-john-karantzis-plays-the-wirecard-20200705-p5596k

“If you look at Wirecard … you’ll find that their [PE] ratios are much, much higher than ours,” iSignthis chief executive John Karantzis complained to Alan Kohler back in March 2019, making his dubious case for a rerating of ISX stock.Those were halcyon days for shadowy fintechs. Dogged Financial Times journalist Dan McCrum has just exposed Wirecard as a massive accounting fraud. Having filed for insolvency, the German payments processor now trades at 0.58 times consensus FY20 earnings and on a revenue multiple of 0.12 times. Applying the latter to iSignthis’ 2019 revenue of $31.2 million would give it an enterprise value of just $3.75 million. Risk-adjusted, that seems more than fair!