It might be a good idea for everyone to take a step back from...

It might be a good idea for everyone to take a step back from the situation, clear your head and then take another look at the situation again.

The hostile comments from both sides of the discussion are not required. There's a lot of ego on this forum and I reckon that comes with most anonymous online interactions because you can say whatever you like and no one knows who you are.

It seems to me as though the company are limping along with recycled funds until they have completed a few credit cycles. I'd imagine this would be required to gain funding. The company mentioned low cost funding and it's my opinion that low cost funding may be possible given the ratio of transactions to bad debts. While we are looking at the bad debts in relation to NTR, a funder would be looking at the total transactions.

Also, I believe bad debts are contained in "Administration costs". As the TTV grows, so too will the bad debts and this will show up as increased Admin costs.

This isn't a bullish or bearish comment, I do think the company will eventually get funding and until it does, it will recycle existing funding. The increase in staff does make me think that they must be anticipating funding to become available soon in my opinion. They've just released the second version of the app (I believe is better than the first, say what you will). They've paid for 2 more influencers and a big launch. Not the actions of a business that plans to run down cash reserves serving a small amount of customers.

Raising Capital will have to happen at some point. Management appear to be comfortable limping along but this can't happen forever. I could say more but for now it's just going to idle along or keep decreasing in value.