RE:A question
apparently much of the A/R at YE was cost of issueing the paid up credit cards that have a cost to them and is billed to the resaurants. I think special payment deals were made. XTM receives no revenue from the total meal bill put through a card machine. The $25ml held as an A is cash held against L of balances awarded to the paid up credit cards of servers/employees etc. co earns some interest on this balance. balance may only represent tips and not include salaries. XTM only receives revenue when the card holder actually spends some of the card balance from the card issuer that charges the merchant transaction fees. The timeing of payment from the card issuer i don't know. Caution, govts are discussing these transaction fees with a view to reducing them resultiing in reduced revenue to XTM. Opportunity, I'm sure there wil be many other services that cen be attached to the cards that can result in revenue
It would have been nice in all the videos to have the revenue stream more fully explained