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...