I haven't posted on here in quite a while, mostly due to the increasing number of trolls that stockhouse seems to attract to most forums these days.
However, despite what some of you who are newer to the mint story are seeing as a rapidly progressing and nimble company with this new remittance deal, it has now turned into small potatoes and in the end will add very little to their bottom line. That is where the real problem with MIT seems to be forming, in almost 2 years they still don't have enough cards to for MME payroll processing to be profitable on its own (by my math they need around 600k), not to mention the fact that they seem to be losing cards as fast as they're signing them, and on top of that over half the cards under contract aren't even producing any revenue. I'll chalk the second part up to them waiting for Mastercard TPP approval for MGP which has finally been approved. If the payroll processing on its own can't become profitable it will continue to be a massive anchor on the expansion of the rest of the businesses. Money to borrow for expansion is hard to find when you can't show you're making any to start with, which I believe is part of the problem for Mint Finanace and why no major institutions have stood up to back this project.
Now with the loss of what would have been the largest margin part of their business, Speed Remit falling through is a another major blow here and I'm starting to get tired of hearing about the delays and mis-steps. A company of this size can't afford any more mistakes.
This was my favourite stock to watch last year, but unfortunately I no longer see the massive growth potential and huge margins the company keeps predicting ever coming to fruition.
I'd love to hear some opinions to the contrary.