Banxa Holdings Inc V.BNXA

A move to Profitability. Best Long term play for Banxa

[Short0This]

Despite lackluster share performance and the haulting of the shares public markets.

I do believe Banxa is moving in the best interest for the future of the company. 

At this stage in the market cycle getting profitable is a number one priority. Banxa has restructured the business and their plans. So they may survive the current state of the market. 

Companies who got profitable and changed their businesses to survive the duldrums of the .com bubble came out on top at the end of the day. If Banxa can change their business to become profitable in this stage of the market it will give it huge lengths when crypto markets eventually do turn. 

Raising capital, dilution, and taking on debt at this stage where interests rates are high and valuations are low is not the greatest of ideas. Unless of course it's for the survival of the company.

Enjoy your Weekend Everybody.

[Abedim15]

It is my understanding that they have money transfer licence applications pending for October. Unknown the stage at which any of them are and whether or not fees have already been paid or are outstanding. There is, of course, a cost to expanding into the US. But, it is my understanding that some people are already in place and beyond licencing fees and some admin stuff, there business model is

[Abedim15]

List of states they hope to be servicing clients in October https://banxa.com/wp-content/uploads/2023/08/BNXA-USA-MTL-Inc-_-Website-Licenses-as-of-08.04.2023.pdf

[Short0This]

Good Post!  Missing California and New York understandable though. Despite having the largest populations and most likely best earnings, they are probably the most expensive and difficult. No Texas yet either, atleast they have Florida.  But Rome was not built overnight.