Absolutely agree @Wini,

And a big thank you @OUTSIDEcapital, I sold out this morning on your news, thankfully for a small profit,

Cheers

mmff

Hey @OUTSIDEcapital

As said previously, I really did appreciate your post.

I also understand your dilemma. Like this post of yours, your previous post was well thought and not at all made out to be sensational.

It is these type of posts that makes the Strawman site so invaluable.

I hope your it turns for your friend/acquaintance that has lost their job (and the others too)

Happy Investing

mmff

Hmmm...a very preliminary scan of the CEO overview doesn't point to any obvious mines.

In fact Daniel Riley states - quote "While it is too early to give specific guidance Earlypay has had a strong start to the new financial year

and expects an increase in earnings in FY23."

Indeed, this statement kind of dispels their inability to make advances - quote - "Earlypay established a new $30 million Trade Finance funding warehouse in April 2022 to support continued growth in this product. Although this increased costs in Q4 through negative carry of undeployed cash, it provides a runway for growth and will be close to full utilisation in 1H’FY23." - Undeployed cash!!!!

I think I will listen into the conference call to see if anything else gives.

@OUTSIDEcapital there was no mention of the equipment finance being wound up in the earnings call transcript that I could see. Only comments like, "At the current book size, the equipment finance funding structure is optimised", "It's about the right size at the current level", "So given all that and the more moderate outlook for growth in the equipment finance portfolio we made a few changes internally to maintain our profitability and protect our margins".

I'm assumming then management weren't willing to share this with shareholders?