The Next Chapter, page-5232

I am not so sure. When Splitit was wound up it had $5.3 mil income in that last half and generated a loss of $12.8 mil, so expenses exceeded income by $18.3 mil. That is likely to have continued, although interest costs will have been alleviated hopefully by loans having been discharged.

As pointed out at the time it urgently required the $10 mil (less costs) from the 2 major shareholders to keep it going, which it then converted into Convertible Notes. with that it paid the expenses to keep the doors open as well as the customer which sued Splitit for $2.5 mil. It procured $25 mil from Motive.

Among that it had a $64 mil liability in the Balance Sheet, $81 mil receivables and cash and had to start again.

The first tranche of $25 mil from Motive will be keeping the empire afloat but there is no picture yet of what has happened, nor has Motice decided yet whether to punt in the other $25 mil