Read on Twitter
1/ $SZL out with an update that once again fails to disclose anything relating to:
- Costs - and in particular there poorly disclosed (and in there only audited annual report to-date not dislcosed at all) funding arrangement re: the "Merchant Interest Facility";
- Costs - and in particular there poorly disclosed (and in there only audited annual report to-date not dislcosed at all) funding arrangement re: the "Merchant Interest Facility";
- Credit metrics. Yes: A consumer lender that puts out updates that have essentially zero information regarding consumer credit metrics. I'm not kidding. They literally don't consider them "Key operating metrics". This is a joke:
$SZL
$SZL
Question stands @BakerTillyUS. Did you know about the MIF when you audited the report and it was not disclosed? Why was the rise in interest costs attributed to other things but not the undisclosed funding arrangements with merchants? $SZL https://twitter.com/ignore89039500/status/1339714022950596608
For anyone out there who is interested: This is a US based BNPL that listed in Aus and failed to disclose the apparent largest (and incredibly innovative) source of their merchant payables funding for ~a year (among other intriguing bits and bobs): $SZL https://twitter.com/ignore89039500/status/1334009778536792064
~Half of the stock of the entire company comes out of lock-up on 30 June. Sole Australian director sold ~half his stock that wasn't nailed down some time ago.
*their
