I thought I would just throw up a list of my pros and cons....

I thought I would just throw up a list of my pros and cons.

Pros.

1. It has revenue & a healthy profit margin.
2. The client list continues to grow & customer retention remains high. There's a need for a business like W2V. It's not a consumer discretionary stock.
3. The chance of mergers or acquisitions because W2V holds patented AI tech. (One of the biggest reasons I still hold).
4. With GTV of $2.23M in Q1 & $9.7M in Q2, that brings the total to $11.9M for the 6 months to June 2023. There was GTV of $21M in total last year. So, it only needs another $9.1M to beat the total GTV for 2022. Considering they just did $9.7M, they should be able to beat last year's total. I think W2V is on track to hit over $30M in GTV this year.
5. Thorney is the largest shareholder.

Cons.

1. The massive cash burn despite statements of cost-cutting being underway.
2. Entities associated with a Director have dumped. Not a good look!
3. This year it's only pulled in $1.2M. The "delayed" payments from 2022 should have trickled in over the last 6 -12 months. So a GTV of $21M for all of 2022 has only generated $1.2M in cash receipts so far in 2023. If we extrapolate those figures out, I think W2V will need GTV in excess of $80M just to break even with the current cash burn. I don't think that will happen anytime soon. But that could change if the cash burn does fall.



4. Debt.
5. The illusive Smart Spend Card. Where is the income? Despite raising millions last year & hiring new staff, below is all they can muster. It's been over 15 months now.



There are no figures on how many there are in circulation. So it's a giant flop? Why? Too expensive? The acquisition of DevoluIVA was supposed to open up a door to expand the card. Where's the expansion? It's disappointing because this product was one of the main reasons I first bought this stock. I think this product could have potential in the tourism industry one day.

Anyway, let's see what Q3 brings.