Understanding FFG - the risks, page-2

Before people jump in and tell me to only talk positive on the company, stick to responding to the facts above as I have done a heap of research to come up with the above, and generally want to understand how the company has a $250MC on the basis of $43k revenue, $1m cash in bank, and failure to disclose financing details or names of third party financiers, non-disclosure of revenue structure of BNPL operations, clarity on ownership of Smartfunding and how 20% direct stake will translate into revenue, and non-disclosure of any clients/partners/gateways/banks/merchants.

Other BNPL providers - APT, ZIP, IOU etc are very clear in that they own 100%, have financing facilities with named banks etc. and they take majority risk of bad debts, and therefore get a bigger % of revenue, so the FFG model is very hard to understand, particularly given all risk in on unnamed third party investors, who will no doubt get majority of money, next will be Smartfunding and then last will be FFG on its 20% stake.