thanks @selfmaderichesYou did a great job so Ill try not to...

thanks @selfmaderiches
You did a great job so Ill try not to repeat what you said.
Klue, I love your cynicism in general and its a great quality for a spec investor to have mate. Appreciate the thoughts you shared. My view on them

1, Are they still offering the ability to buy things $400 or less through 3 instalments via a Debit Card. If not, why not.
YES. They are clear on allowing DEBIT cards as well - they are targeting millenials and quite aware of wht that market entails

2, How many of the 15.9m shares obtained by Simpel at 13c will be available for sale on day one. Same for the 25.7m shares issued at 11c. Nice to see funds used to buyout stale existing holders though.
Agree, would rather have Simpel there than old holders who wanted out so cheap. Who knows? At 13c likely to be some escrow applied by ASX but we need to wait for that announcement before listing.

3, The business model extends the time it takes for Visa and MasterCard to get paid. What happens if this upsets them and they somehow disallow it through their platforms. This is a major concern of mine.
Splitit allows greater number of customers to afford purchases thru their credit cards which increases revenue to both CC companies and merchants. This is viewed favourably by cc companies therefore is my understanding. Prospectus mentions discussion with master card around some initiatives so they may well be on-side already.

4, A very strong team of Directors, but until those with none buy some shares I'm not convinced they care.
Directors super strong indeed. Just cos they don't hold shares (at time of prospectus) doesn't mean a) they don't have the knowledge and perspective to get the company going on track., and b)  doesn't mean they didn't participate in the IPO  - that it would not yet be released to market. Guess we need to wait for announcements to know.

5, This will burn through its raised cash in quick time. As an investor I'd be waiting for raise number two, what price it is and how much.
Answered above. IMO next raise more likely higher than IPO price but that's just my view. Time will tell. invest or don't.

6, They have shown the graphs of Merchant growth, I would like to see one of Merchant departures.
Growth = merchants joining minus merchants leaving. Overall their growth rates are enormous (as expected in the beginning when small absolute increases would create large percentage increases). since its merchant numbers (and customer numbers) that drive revenue, the growth rate is what matters ultimately.

7, They average 12.4 users in each country, which I think is pretty average. It's a similar number to a statistic used once by GetSwift.
They are fledgeling in most countries and are showing rapid growth so wouldn't read too much into this. Doubtless there is fantastic room for subsequent updates showing large increases in this metric

8, Will it be too expensive for small Merchants. On a plan where a Merchant is paid in instalments over 12 mths, a $120 sale would be $19.80 in fees(BAD), $1000 would be $33(OK). My math wrong?
Its a matter for each merchant to work out. Small time merchants may have cash flow considerations when being paid over a few months rather than all upfront - but it would be from extra sales they may not be getting if it weren't for the interest free payment terms split-it allows them to offer. A matter for each business to work out but small businesses wouldnt generate the same revenue for split-it as larger ones so not a concern. Larger ones generate the revenues and cash flow less likely to be same impediment for them. increased sales likely to counteract this anyway.

9, I'd like to know the fees for the other two options the Merchants have for receiving their funds.
fair enough

10, Point 8 makes me want to see Point 6.
11, It's Armada as lead manager. Not a fan.
I think each business should be seen on its own merits. No advisory can get them all right all the time. Having said that, I would wonder at the fund firepower Armada can bring to the aftermarket. This is a question for me, but I suspect there will be a lot of enthusiasm for this on market - a question for each investor to himself I guess.

12, Why is Miranda Kerr's hubby in this. Intriguing.
Yeah! Founder of snapchat.  He simply wouldnt waste his time on junk so whatever the connection it can only be a good thing.

13, The number one shareholding of 58m shares is owned by an entity connected to a quitting director. Do they want out.
Founder shares are almost always escrowed by the ASX, we will need to wait for that announcement nearer to listing date.

14, The targets of the performance rights are outstanding. BIG targets. If they get met, this thing will fly......EDIT. looked deeper and realised $150m in transactions is around $2.7m (gross) to Splitit at the 1.8% they seem to average. It's really what they should have now to justify the $42m odd EV they have.
Patents, IP, peer valuation and growth potential (plus the sweet blue sky ) all count for a lot of valuation - again a judgement for each investor. SPlit-it metrics are ahead of where Afterpay was at IPO, and there were heaps of criticisms of Afterpay too, but it got on with the job and showed its critics to be fools (at least so far). Id say there is a fair bit of riding on those coat tails for split-it.

15, No late fees as the automated payment schedule and hold on card should not allow it, but no interest! Is this a clever workaround? What happens if the charge to the person's CC is not paid by the due date? Is this just 'No interest charged by Split-it but you may incur interest from your card provider'
SPT allows you to pay over several months without interest rather than all upfront - but you do need to pay as agreed. Obviously people who default on credit card payments are charged interest by CC provider - that's a given and should be well understood by all reasonable people.

16, Has the company already addressed this possibility in the prospectus. The only way to be unable to re pre-authorise already pre-authorised amounts would be if the CC had attracted an interest charge right? Or I guess if it's maxed out and they charge the installment before the new pre-auth.
Dont understand your question Klue - hopefully answered above altho I cant see the post as I type here.

19, They list all the reasons that shopping carts are abandoned, their main selling point to merchants. They actually shoot themselves in the foot on this. 85% of carts are abandoned due to lengthy checkout times. If they can already check out with their credit card, is that extra step to check out with Splitit what pisses of 85% of us.
I disagree completely. As inferno31 already showed, to use split-it you just accept T+C's and click on the button "pay using split-it." its super easy and quick. Afterpay has shown that people are willing to get credit checks and go through involved registration's to get terms on their CC spend - how much more so will split-it be able to lure consumers with a simple click "buy with split-it button" rather than "buy without" button. No credit checks, no pplicatins, nothing, just click this button rather than tat one and enjoy interest free terms adn pay off the purchase over few months rather than upfront.

20, $100 Amazon gift cards to people who have complained online! Hmmmm.
Yeah, consumer relationships and customer service very different overseas - much higher stds. Any compliant or whine and you gotta make amends. Remember the US etc are its major markets, not Aus.

21, "Today, over 800 merchants have registered for Splitit" RewardExpert June 2018 interview with Gil Don.
22, "over 1,000 merchants are selling their produce on his website and over 100,000 consumers are making purchases through Splitit" Forbes October 2018. Why is the highest figure quoted for merchants in the prospectus 310. Saving it for the staggers pump?
Might depend when that section of prospectus was written but agree, if not up to date then perhaps makes for a good after IPO update

23, I assume on top of the fees mentioned by Splitit are the transaction fees charged by Visa/MasterCard. If these include a % PLUS a 10c (or so) fee PER transaction it is a worry.
As I understand the fees are Split-it 1.8%, the payment gateway fee as usual.

I think there is an excellent story here with massive potential. Like any business it has to deliver operationally but after IPO they'll have funds and the board with the pedigree to deliver. All specs are risky long term, but a worthy short-medium term prospect at very least?