open, page-8

Can't see much of a case. You have a 1 week loan for $100. If interest is capped at 50% p.a. That's 96c in fees for the loan. Probably took a admin person 30min to do the loan. Can't argue that cash converters could cover costs by charging 50%pa. I noted the reference to a rate of 49% so I assume it is annualised. Pretty hard to argue a business should be charging no more than $2 for 30min of paperwork in Australia at least not without saying these same "poor victims" are getting paid too much. Pity about the negative branding impact of this press.

Independent of what I see as an obvious outcome from this case it looks like a strong buying case may arise in the near future if the market continues to dog this one.

Hoping for $0.50 per share... That's the dream