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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 Vancity1on Dec 13, 2023 5:35pm
211 Views
Post# 35783240

Woof about to get Venezuelan cheap.

Woof about to get Venezuelan cheap. As I said before the auditor doesn't want to sign off on Banxas stubborn and ridiculous revenue recognition policy. I mean it's kinda crazy they are so stubborn to hold onto this policy that has caused the company so much trouble and public relations issues. They want to say that 100% of off ramping is revenue whic is clearly not the case because the revenue should be the net take. Now they will need to change the 2022 numbers and redo the FY 2023 #s which imo should have already been prepared as a plan B. No doubt this delay will cost a halt past the December 29th deadline. 
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