Agreed with Jlo on the below:
- March 2020 revenues have slowed appreciably, with processing volumes in key EU merchants having declined in GPTV.
- We also note that responses from payment schemes to what are usually routine technical,
commercial or settlement matters, are now taking several days to resolve, rather than
minutes, hours or overnight.
- Customers are also slower to engage with the Company, usually due to staff unavailability,
and are thus slower to respond to offers, or to onboard.
50% of businesses are closed from a recent spot survey Goldman Sachs did. I could name 50 massive unicorn level businesses that are in a much much worse position then ISX is. Massive companies in so many verticals are closed and shareholders have lost billons.
We are in a VERY lucky position at the moment as B2B transactions, fiat to crypto, gaming, etc are all still transacting. Obviously many are slowly but income at ISX is still flowing.
It's, in my opinion, ASIC & the Australian government needs to try and save as many Australian businesses because on the other end of this we are in for a world NONE of us have ever experience. This ain't no recession if the government sticks to its 6 months projections of "lockdown" of people and businesses, a great depression is coming unless someone or something changes that 6-month timeline.
If ISX was NOT suspended and we never saw the OM report, we were growing hard with no negative pressure from allegations over what's in this draft (that no one knows 100% it's content) where would we be in this storm? We would be in a very good position compared to the rest of the businesses on the ASX.
Thank you, OM for your report, ex-ISX early investors, the ASX, non-holders, etc you really have helped out here in a positive way. Now that COVID-19 is here & because of all your hard work the team at ISX were & still are working on growing the business during the onslaught on negative media pressure, the ASX's forever changing questions, tactics & multiple different draft reports (even a surprise new one on the 24th Jan bet none of you knew that). I know Liz has JK's back and pray for all shareholders they somehow pull a miracle and survive this next 6 months as we as a country need as many businesses to survive this nightmare we all wish we could go back in time and stop.
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