PIL - By the numbers

Now that we are taking major steps forward with PIL, I thought it would benefit all shareholders (current & prospective) to highlight a few things in a concise manner.

PIL listed via back-door issuance in Dec 2015 at 2c & for the last 7 months has been laying the groundwork for the fireworks we are currently seeing by way of activity. I would have argued it should not have listed until we reached this point as the 6-7 month lag has created a lot of stale initial holders.

It is these stale initial holders which bought in the IPO at 2c which have been exiting over the last week. IMO we are now done with those holders as we have seen 60m shares sold over the last week.

Now to the numbers.

As per the shareholder letter 27-June announcement, PIL has 100,000 subscribers in their white label revenue vertical across their 3 major bank partners being:
- Union Bank
- Metropolitan Bank & Trust Co
- United Coconut Bank

Looking back to their March quarterly, they generated 152k in revenue across the business. Note the above stream is the only current revenue generating stream.

Union Bank is now looking to increase their penetration with their clients from the 50,000 user 'trial' to 2.5m users which is a 50x increase (announced today)

Last week, PIL received central bank (BSP) approval to license MyWeps which will be an entirely fresh revenue stream. They have already engaged a global agency (1Bro) to actively promote the product across their network of 90,000 agents.

Finally, there is the Bangladesh expansion which will be down the track. That market has 133m users within it & PIL currently has an active MOU with 24NME to enter that market. Note that MOU timeframe ends this month so we very well may see a collaborative market entrance announcement soon.

PIL has 3 very active avenues to market which are progressing nicely & their primary avenue (white label solution) is already generating exponentially increasing monthly revenues & received a nice 'tick in the box' today by their largest customer wanting to increase their exposure by a factor of 50.

PIL will certainly be one to watch as a FinTech powerhouse of the future.