Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Fintech Select Ltd. V.FTEC

Alternate Symbol(s):  SLXXF

Fintech Select is a provider of pre-paid card programs, an online payment platform, and a POS cryptocurrency platform that all are in-house developed platforms. The company also operates a multi-lingual call centre that provides services to customers across all its platforms, and to third-party customers. These core assets have been unified and enabled to operate through separate divisions, all harmoniously working together to create a new environment for consumers and businesses alike.


TSXV:FTEC - Post by User

Bullboard Posts
Post by LoganKMon Nov 18, 2017 1:57pm
221 Views
Post# 26989789

Due Dilligence Results

Due Dilligence ResultsHi folks, I've done some significant DD on this company. Personally I love the concept, love that they are on the verge of executing, I love the fact that they will instantly own almost 50 percent of the global crypto atm locations. I also like that they have about 1mm in quarterly revenue from other operations. Lots of good stuff here. I actually see them as a potential takeover target. Their market cap is so small that buying them now to take over their first to market crypto point of sale system would be very attractive. What concerns me and makes me hesitant to call this a coming home run is there cash flow and debt. By my calculations, their straight operations and expenses are burning about 300k in cash a quarter over what their revenue is. They had 1mm cash on the book at end of June, so theoretically have only about 500k left. And on top of that they have two debt facilities hanging over them with companies that have initiated legal action. That debt is what concerns me most. They already renegotiated and restructured some of the debt which was impressive but what will they do with the rest of it. They will need funds to close out that debt, even if renegotiated. So I see them either needing to do a financial raise, or bringing on a strategic partnership with a big investment. Anyone have any insights into this or have spoken with them about their plan to handle this debt? If they can clear up the debt then they are a rocket ship waiting to launch with very limited downside risk
Bullboard Posts