Post by
BCdude on Feb 25, 2021 1:24pm
Some Observations
Nice to see the Dec 2020 financials today, including the dramatic increase in TTV and revenue. I think it's safe to say BNXA has a current annual run rate of $20-$25 million.
Interestingly, if BNXA traded at the same valuation of VYGR it would be ~$56.40/share.
I hate to make that kind of comarison, though, since VYGR is overvalued by many multiples.
I have an accounting background, so s few cautionary notes too:
1) While the cost of sales have been decreasing as a percentage of revenue, the salaries and G&A expenses have been increasing in lock step. Loss from operations is only a little less in 2020 than in 2019. It will be interesting to see if there's a meaningful change in the next quarter, when we are expecting even higher revenues.
2) The listing expenses were offset by a gain on value of inventory + foreign exchange. While these are legal accounting measures, investments and foreign exchange can work against a company, too, and is qualitatively different than actual revenues.
3) The cash flow statement also indicates they are not out of the woods yet, despite revenue increasing by a huge percentage. While part of this can be attributed to the listing expense, factoring that out cash flows were still minus $2.5 million vs. minus $1.0 million in 2019. This was largely offset by $2.5 million in loans during the quarter.
I'm a BNXA investor and plan to hold long term. I comfortable with placing a fair value on the shares at 10x revenues, which I know is less than competitors, but I'm conservative. That would put the market cap at ~$200-250 million. With a fully diluted float of 45 million, that suggests a fair value of between $4.40 and $5.60 per share.
That is my two cents. I agree that we COULD see a much higher share price, since many investors in the current environment won't be inclined to look at the numbers so critically. I wouldn't be surprised to see a share price of $10.00/share this year, perhaps higher.
I only offer my numbers as a check on overexuberance. Feel free to plug your own numbers in.
GLTA
Comment by
StockGuru454 on Feb 25, 2021 2:41pm
you lost me at i"ignoring all the facts below... lol Facts are the worst case scenario...this is a $5 stock, best case scenario $55. Which ever way you wanna look at it it's a win in all directions even before the ridiculous earnings of febuary about to hit The PR.
Comment by
Vancity1 on Feb 25, 2021 3:00pm
Also Banxa Hodling 158 BTC helps especially if it keeps its course to the moon ahah
Comment by
Averagewhiteguy on Feb 25, 2021 3:36pm
As frustrating as it is to see that share price is being obviously manipulated. It's good to see the bright side of it and accumulate as many shares as possible.
Comment by
Urbani on Feb 25, 2021 4:02pm
Yes, being manipulated.... and at end of day again.... VYGR up today... right they have marketing Oh well, it gives me some more time to pick up more at a lower price I suppose. I was complaining that I didn't hae enough this morning when I saw that BIG press release...