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Banxa Holdings Inc V.BNXA

Alternate Symbol(s):  BNXAF

Banxa Holdings Inc. is a Canada-based company, which provides a financial technology platform. The Company’s principal business activity is being a payment service provider to global cryptocurrency exchanges. The Company’s products include On & Off Ramps, NFT Checkout, OpenRamp and Token Listings. It offers extensive global and local payment options resulting in conversion rates up to three times higher than credit card-only solutions. Its fiat-to-crypto On & Off Ramp solutions enable users to conveniently and securely convert traditional fiat currencies into cryptocurrencies. Its product is a full-stack solution, including UI, Identity know your customer (KYC), Payments, Crypto Liquidity Management and Customer Support. Its NFT checkout solution is offered both in the primary and secondary markets. OpenRamp offers a streamlined solution for on & off ramping, enabling users to effortlessly transition between traditional financial systems and the decentralized blockchain world.


TSXV:BNXA - Post by User

Post by arh0070on Oct 11, 2022 3:25pm
810 Views
Post# 35017935

Bnxa

BnxaWell I went to check to see if any new information was available.Jonas of course isn't a retail investor but some type of paid promoter ,one would postulate.
The article published yesterday was a "puff piece"and was based on the bnxa cash balance on March 31st .
I dont know but I suspect that Simply Wall Street is one of these paid promotional places rather than a none biased financial publication like the WSJ.
So NO detailed financial information has been released on BNXA for 6.5 months and counting .This information is available no doubt to BNXA management but is not being released,so one would postulate that the news must be perceived by BNXA management as bad .When times were good TTV and other financial info were released to great fanfare,now the opposite is occurring.
BNXA must be hoping they can put together some type of deal/ financing or otherwise in the next 3 weeks .If they don't publish the annual financial report (end of June 2022)they will be in none compliance with the listing requirements of their listing exchange and likely will be delisted .I dont know the timeline of such an order but have seen it happen with some small mining companies which were in none compliance.
Cryptos remain in a severe bear market ,in the past bnxa has basically indicated that there revenues go up and go down with the market,to my knowledge its revenue increases (or decreases )go up and down with the Crypto total market cap,this is way down from 18 months ago.
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