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3.3¢ laybuy group holdings limited

apt the more the borrow the bigger the debt

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netflixnight

307 Posts.

70

10/09/20

16:38

Post #: 47246574
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Originally posted by Transcender: ↑

News is out. Look at their financials for the last 2 years. Theres the news. The more they do the more they loose. Technically insolvent except for the pending exercise of some convertibles that was all contingent on an ASX listing.
Read the financial reports. As at end of 2019 and 2020" the Company is in a net liability situation."
The pre-listing people all received options at just above $1 and are now probably trying to hold things up while they get paid out of them.
This may be a growth company, but seems that some of their revenue is " overdue fees", ie fees charged to people that havn't paid.
Why haven't they paid.
Because they couldn't afford it in the first place, hence the $20m losses over the past 2 years.

Putting a market cap of what, $335m on a company in an overhyped, over-serviced sector that has not shown any ability to turn a profit is, in my humble opinion, insane.
This may turn out ok, but DYOR, because it may also just be a whole lot of smoke and mirrors.

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apt the more the borrow the bigger the debt

LBY Price at posting: $1.80 Sentiment: Buy Disclosure: Held
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