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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 Feb 27, 2024 5:09pm
85 Views
Post# 35902500

25% apr loans from insiders LOL

25% apr loans from insiders LOL

This is the same thing that Dom set up Banxa for failure giving 25% interest to arms length lenders. 

it's not rocket science.. Banxa can NOT afford to give 25% interest when they only make less than 3% on there transactions... 

The company can't raise money from anyone that is not an insider and predatory. The insiders don't really have much risk to lending money at 25% because the apr is a gigantic return. If the company fails to meet its liabilities they can go bankrupt and the insiders will get paid back first in a liquidation event because it's debt. 


clearly the writing says, too risky and brankruptcy is very probable. 


there is no liquidity in the shares. There is no way for insiders to exit there is no way for anyone holding a large amount of shares to liquidate without tanking the price. 

the only hope for Banxa is a buy out but I wouldn't hold breath for that to ever happen. IMO the rumours before the halt about a buy out in 2022 were fake news meant to prop the price of the shares before being halted... 

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