Hi Winsomelose,
They have already been doing the staged approach and it has been slow progress IMO.
They have had around $1m already hit their bank account this year via sale of Copper asset and first stage of funding and yet Bizmoto registered agents only increased at a rate of 2 per day over the last quarter.
Competition in Philippines in this sector is very hot at the moment and I believe they need to launch BizmoLoan ASAP (which will need significant funding) but more importantly grow their agent base rapidly. (which will also require significant funding).
$1.5m just won’t cut it IMO given that they are running at significant loss each quarter.
cheers
PIL should raise capital at half at .005, page-70
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