Post by
arh0070 on May 06, 2021 2:29pm
Banxa reported results
I did look at thier 6 month unaudited results on thier website IN DETAIL,have you??.Reported in Australian dollars .The critical number is "the cash used in activities" ie the cash burn rate .Nothing else matters in a company that is not making a net profit .For the 6months ended Dec 31 2020 cash burn rate 5 million AU ,for the comparable period the previous year 1 million AU .So as they expanded they burned up more money ,this not altogether unusual on an emerging compoany that is growing rapidly .The cash burn resulted in a doubling of the number of shares last year with a further capital raise this year (which was way below what was then the share price), not so much now with the recent stock price decline .
There is no point calling/emailing the CEO ,he cannot divulge/discuss any financial information not in the public domain .
So the evidence suggests an increasing cash burn rate .Anyway we will see what the next quarterly financial statement says ,it must be due imminently .
Comment by
Noscams on May 06, 2021 2:39pm
I was unable to find it on their website . Thankyou for your imput. I was just surprized to see the SP down so much only a day after positive news . Sell on the news I guess...