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Jay
Jay_P seems a bit obsessed with a fundraise, which the BoD has told us time and time again isn't happening.
They will need to sell the BTC treasury and they will obtain a Convertible Loan Note at 10% interest. Doubt a placing after the denials by management. Management will need to make sure the CLN is repaid in cash otherwise it will be converted to shares in the end. Depends on what the terms are. More coins is not actually as expensive to implement than you think. Lots of the hard work is done. It will generate revenue quickly too and an SP bounce of 100% is likely within a month after announcement. This review of the business is 4 months late. I think the affiliate program will actually generate a fair bit of revenue and i think people are not clearly factoring that into the equation.
It will probably be a subscription account. That is the only way to make it financially viable to offset the interchange fees.
MODE had/have great ideas but they have tried to apply too much innovation before they got the business off the ground.
Replicate e-toro, binance etc, but with regulation, and MODE will do very well, even if not really bringing anything new to the table.
Once that core is established THEN they can innovate, when they have solid turnover coming in that can cover costs.
At this point being a copycat platform would bring a smile to the face of the (1 year) long suffering shareholders
They are a bit further down the road, the open banking sysytem they are running will allow MODE card to either use your balance held in MODE or link to your own account, while earning cashback at all retailers.
Its a no brainer
mode card was one of the quiz questions - it's definitely an idea they're considering. as well as imitating binance they need to replicate / add their mode card onto the apple pay system so for day-to-day purchases you just hold your phone against a pay pad if they want it to take off.
Really mode card? How you know?
Mode card is coming
ha that was exactly my feedback in the quiz - i said they should imitate binance, keeping it above board with respect to the UK regulators to expand their userbase. It'd be very popular - especially if they approached from a 'more secure' angle to attach those of an older demographic, with a lot of spare savings who are interested in crypto but haven't yet taken the plunge. Barriers to entry of crypto are still very high which puts those less in the know off. If mode could sell this dream it'd be one of the most popular apps on the app store.
I think the ironic things is, in the short term if they had just turned it into a mini binance then that is cheaper, quicker and recognised by the market as the right place to be today and then move onto other areas.
The whole market is down, coupled with a serious mistake by the management. Communication to the market has been poor. I ran the numbers for the affiliate program. They could do quite well this year out of that if they get the execution right ie some retailers people use day to day. Access to funds is much easier nowadays especially in a world of QE. I think they could do between 4 and 6 million in turnover this year.
hmm confidence definitely low - anyone do the mode questionnaire issued yesterday? Very interesting items brought up for users of the app - possibilities to turn this into a hybrid trading, payments & cash storage facility for users including commodities, crypto & shares. Hopefully they're looking to branching out into these other lucrative avenues to bump up the number of users of the app & frequency of use.
Really do need a formal business update asap.
Seems to be pricing for going out of business! This is very strange, confidence lost???
Agree. I have a feeling that they are working on Ether in the background. The affiliates they are approaching individually since they are signed up through a 3rd party, may yield some extra results. I am expecting the big announcements in Q2 but they do need to pull something out of that hat within the next few weeks. Buying opportunity or a trade opportunity for some quick money? We are trading at less than tangible and intangible level IMO since we do have over 100k users and live merchants in use with the payments platform generating revenue.
I think at this rate it'll need to be a blockbuster announcement. But a steady flow of news should help here.
It will not take much to turn sentiment around.