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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 19, 2023 9:05am
165 Views
Post# 35690525

Carosa is gone

Carosa is goneWell Mr Carosa is gone .He indirectly has a board seat and his investment company owns around 13% of the much depleted bnxa.He has not (as far as I can tell) participated in the new capital raising.
Mr Arians is the new Chairman replacing Carosa and he along with Mr Queresi are the main investors who have helped raise 1.75$ million for the Kitty.
It remains to be seen if they are able to raise the 6 million planned to help reduce the 25% interest rate debt.
BNXA has gone down from 8$ in March 2021To 50 cents currently .
Mr Carosas failure in the last 2.5 years was to recognise the bear market in Crypto soon enough.
Hopefully Mr Arians will do a better job.
Crytpos are doing better from the bottom of the bear market ,if past history is a guide with the 4 year cycle in Cryptos a bull market has already started.
Whether bnxa will be able to participate and prosper remains to be determined ,it has avoided bankrupcy for now, but is on life support .
Mr Arians is familiar with the company of course and I wish him luck.Quite obvious for a long time that Mr Carosa needed to go as the buck stops with him with respect to the catastrophic performance of bnxa and its share price since March 2021.
There has been very little reaction in terms of share price volume from Mr Market,it is taking a wait and see attitude.Whether any remaining retail holders will recoup any of thier lost capital remains to be seen.After all the debt and the new issue of convertible securities all of which take priority if there is a bankrupcy I doubt whether their is currently much equity left over for the retail share holders,It will be Mr Arians job to return bnxa to a healthy financial condition and build shareholder equity.

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