WISR Ltd V.WZR

Primary Symbol: WSRLF

Financial Services Credit Services

Wisr Limited is an Australia-based neo-lender company. The Company provides a collection of financial products and services. The Company is engaged in writing personal loans and secured vehicle loans for three, five and seven-year maturities to Australian consumers, and funding these loans through the warehouse funding structures. It provides a Financial Wellness Platform underpinned by consumer finance products, the Wisr App. The Wisr App helps Australians pay down debt, multiple credit score comparison services and Australia’s first money-coaching app Wisr Today. Combined with content and other products that use technology to provide better outcomes for borrowers, investors, and everyday Australians. The Company’s products include loans, credit scores and round up. Its credit score is a summary of financial habits, and helps lenders get to know its customers. Its loan products include debt consolidation loans, car loans, medical loans and others.

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WISR Ltd

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Post by algroveon Oct 17, 2011 11:17am

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Post# 19155714

No more liquidity issues

In note 22 to the Q2 financial statements, the company advised they will need $70 mil. to cover their commitments i.e. 100% of the cost of Mil Qasim and 60% of the cost of Kurdamir. These are the commitments they have over the next 12 months. As at June 30,2011 they already had $50 mil. in cash. With this new injection, the total cash available will exceed $100 mil. Thus they will be able to fully fund their commitments and still leave $30 mil. available for contingencies and other work they decide to do. When the KRG assigns the 40% third party interest, they will recover the 40% of the costs they incurred in the Garmian block, adding more to their liquidity.Therefore, once this deal closes on or about Oct31 their liquidity worries will be behind them.

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