It's just the beginning for Spenda!, page-183

With all due respect, I think you are talking out of your arse. These are the people heading up the lending business:


https://www.invigo.com.au/about-us
https://www.linkedin.com/in/andy-hilton-094b6a4/
https://www.linkedin.com/in/corrie-hassan-25520468/

Don't get me wrong, SPX is a highly speculative stock and I can't see the share price performing well over the short term with market sentiment turned against fintech/BNPL and pre-profit specki "growth" stocks. Also, the jury is still out on our management. Lots of potential but lots of red flags over management performance too.

I've thought over whether I should change my sentiment in my posts from buy to none, but the truth is I have bought this year. I think it is a very specki stock. Investors should be prepared to lose up to 100% on any one specki stock in their portfolio IMHO. I've lost 100% on one stock and 50% on a few in my time. I'm down 50% on SPXO right now.

IMHO, it is going to take another couple of quarterlies before we can get a handle on how the business is performing at this early stage in its growth. I know there are a lot of posters who scoff at this suggetion and that is fair enough; if that is their sentiment they shouldn't hold. If I knew the share price would half from when I bought I wouldn't be holding now either. Realistically, I think it is going to take up to the end of this calendar year to get a picture of how this business is working. We are really just at the beginning. I'm not so interested in the talk coming out of the company about annualised yield on the loan book. I want to know what our overall clip of the ticket is on customers who take out short term finance, customers who just use us for payment processing, etc, etc. What is the clip of the ticket? What is the breakdown of revenue between fees on finance, payment processing, software licensing, what are the ARPUs for the different market segments. I'm also disappointed that after a much improved presentation (the pro active investors interview), AF has fallen back into the jargon and spin with comments about credit card "blending". WTF?

I'm very much looking forward to the half year accounts to see if they provide any more insight into how this business is going. I'm changing my sentiment to none because on the technicals alone you wouldn't be buying this stock right now. Long term speculative buy.