I probably should add some thought behind my reasoning:
Bartercard makes it money from convincing naive business owners to pay a sign up fee for their virtual currency. Once they get their hands on this said currency they quickly realise a few things:
1. Its incredibly hard to actually use any barterpoints
2. Vendors that are willing to take barterpoints are forced inflate their price
3. Commission fees are extremely high (total transaction fee for both parties ranges from 2-11%)
A trade or exchange system that does not provide any benefit for its customers will not last long
I wont get into the risks associated with a segregated currency or tax implications but they too are not favourable
There are also major red flags within the prospectus - be sure to check how growth and revenue forecasts are used/derived
BPS basically boils down to a 30 million dollar IPO for a company that only is valued around 15 million (but i wouldn't even go near buying shares around 50c)
BPS Price at posting:
93.0¢ Sentiment: Sell Disclosure: Not Held
