Apologies if I were being melodramatic in some sense of my past...

Apologies if I were being melodramatic in some sense of my past posts but I went through and finalized what was necessary to seal the deal in my analysis:

The easiest way was to go out on the streets, on a weekend, in the freezing cold and old school ask people. The overwhelming consensus was that the key demographics of those who rely on BNPL are at risk. Simple credit bad debt prudent accounting standards are easily translated as follows. IFRS 9 / AASB 9, balance sheet management will lead to immediate and additional write offs (P&L impact). And, management will do their best to hide whatever "P&L loss" in results release that cover their bases (accrual reserves, loan interco transfers etc) to not lose their jobs and instill investor confidence. Accounting 101 magic.

There is no amount of magic that will resolve an unprofitable, cash degenerating, debt ridden business in the face of what we are about to see politically, economically and financially. It might be one of those things that can turn out into a movie because of the impacts.

My clients are doubling down. Once again, purely these are just my own opinion. Make of it what you will. We will see how things pan out. Manage risk accordingly. Good luck investors.