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Post by tomas on Mar 3, 2018 7:20:20 GMT
According to Mintos statistics the loans outstanding for Mogo are around 60 mln. Euro. So the interest expense could be 5 mln. Euro annually, as normal interest for Mogo loans is around 12% on the platform. The interest expenses as in 2017 financial statements are stated as 2.8 mln Eur. As I understand these expenses include also interest for issued 10% bonds in the ammount of 20 mln. Euro now. What happens? If somebody could explain that? Mogo did not start from zero last year, so I do not think that this increase in loan outstanding was in the last few months. Mogo finanicals: blog.mintos.com/mogo-condensed-financial-information-12-month-period-ended-31-december-2017/
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Post by zeverare on Mar 3, 2018 10:00:20 GMT
who is paying interest to us, mogo or the borrower? The outstanding 60 million is not on their balance either.
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shimself
Member of DD Central
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Post by shimself on Mar 3, 2018 10:49:28 GMT
According to Mintos statistics the loans outstanding for Mogo are around 60 mln. Euro. So the interest expense could be 5 mln. Euro annually, as normal interest for Mogo loans is around 12% on the platform. The interest expenses as in 2017 financial statements are stated as 2.8 mln Eur. As I understand these expenses include also interest for issued 10% bonds in the ammount of 20 mln. Euro now. What happens? If somebody could explain that? Mogo did not start from zero last year, so I do not think that this increase in loan outstanding was in the last few months. Mogo finanicals: blog.mintos.com/mogo-condensed-financial-information-12-month-period-ended-31-december-2017/The same statement shows loans outstanding of 23M, which fits very nicely with the 2.8M interest. Where do you see 60M? Also noted 2.4M "impairment" (written off I suppose) and 17M "loans to related companies"
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Post by zeverare on Mar 3, 2018 13:01:16 GMT
the 60 million are in the mintos statistics
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Post by extremis on Mar 3, 2018 14:19:43 GMT
The 60 million (65 actually) in Mintos statistics is for the whole Mogo group. The condensed 12 month financial information is for Mogo, Latvia i think; it says 16 million loans from non related parties, while Mintos' statistics reports 22 million (today), which is of course higher since Mogo has listed several loans on Mintos the past 2 months. So, imho there is no discrepancy between Mogo's financial report and Mintos' statistics.
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