let's get our questions answered at tomorrows webinar, page-121

I just watched the presentation too and it was good. I understand that some people will understand the business and some people won't.

With regard to what we can and can't do with regard to providing finance to business. Remember that commercial finance is very different to consumer finance. Consumer finance is heavily regulated and commercial finance is much less so. In essence the idea is that if two businesses are dealing with each other they are expected to make their own informed and rational commercial decisions. That is the basis upon which business is transacted. Business to consumer finance is different because there is a general assumption that the relationship may not be equal. So the short answer is we can probably extend as much business finance as will blow us up.

While I was watching that presentation I was thinking that there are two major risks in the business model that need to be managed:

1. The credit risk - businesses not being able to repay credit extended. Unfortunately the current extended lockdown event in Sydney and the poor vaccination roll out is not going to provide a supporting business macro-economic environment in this area.

2. Technology risk. The banks spend a fortune on IT and even their systems go off-line from time to time.

I understand that Cirralto are very aware of the regulatory risk and the fraud risk and the fiserve relationship helps deal with those. Adrian has addressed these risks in presentations many times.