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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 FmrAnalyston Dec 12, 2011 7:49am
399 Views
Post# 19312301

Reality Check

Reality CheckIt is quite amazing that so many of you are grasping at draws to attempt to read between the lines in the news releases or speculate why the company required an additional $500,000 of debt. None of you seem to read the financial statements to glean relevant information. Even though Q3 information is at Sept 30 you can tell that the company needs cash. It's ludicrous to suggest that the additional loan was to pay an M&A specialist or close the anticipated transaction. But before you slam me let me give you the good news. The Windsor Bancorp group who are obviously in receipt of monthly statement must be satisfied that the company if living up to their loan covenants. Loan covenants are requirements set by a lender that often stipulate levels of profitability, limits on spending and even management remuneration. I take great comfort in the fact that they must be satisfied that the company is living up to all the loan covenants. That's a really good thing.
Bullboard Posts