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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 Sep 25, 2022 11:05am
182 Views
Post# 34984971

Bnxa

BnxaNot much to say in the absence of release of financial data .
The annual report will be released 4 months after the end of the June quarter,rules from the Canadian regulatory authorities do not permit any additional delay.
No further news about private financing through sale of stock ,seems likely it has fallen through .One could speculate that they had the financial records of bnxa and didnt like what they saw.
Sale of domain names for 3 million cash cannot necessarily be viewed as good news ,they obviously need the cash .
No news about whether they are using credit line to fund operations.
Every week it hits another all time low ,albeit in terrible market conditions .Now well below price of stock available to sophisticated investors prior to listing in Canada.
Crypto markets remain very poor with the exception of XRP which popped up in the last week.
BNXA,S market strength was in Europe but economic conditions are so bad there courtesy of Mr Putin can't imagine business is too good there ,things in Asia not much better either.
Lynn Alden who is a really good macro market analyst gave advice this week"dont buy anything"
Article today in WSJ about attempted bottom fishing is not turning out too well.
Worst bond market since 1949.
I am not going to attempt this again in BNXA until they release financial data which will enable one to decide if bnxa is going to survive or not.
BNXA management simply not interested in telling shareholders what is going on with thier company ,not exactly a reassuring sign.
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