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Xinja investors told shares worth 'close to, or actually, zero'

Xinja investors told shares worth close to, or actually, zero
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Shareholders in fallen neobank Xinja are bracing for the company to be placed into liquidation after a memo sent on New Year s Eve warned their shares could be worthless.
In an update sent to investors after 4pm on December 31, Xinja said it had enlisted an external party to explore options to recoup value after the company made the shock decision to exit banking only 15 months after receiving its licence. This is without doubt the toughest letter that any member of the board has had to write in our professional career, the email, obtained by ....

Bob Pratt , Kai Ansaari , Eric Wilson , Sergei Sergienko , Brett Caldwell , New Year , Will Rosewarne , பாப் ப்ர்யாட் , எரிக் வில்சன் , ப்ரெட் கால்டுவெல் , புதியது ஆண்டு , விருப்பம் ரோஸ்வர்ன் ,

Investors told Xinja would make $138m profit by fiscal 2026

Investors told Xinja would make $138m profit by fiscal 2026
Investors told Xinja would make $138m profit by fiscal 2026
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Potential Xinja investors were told the company would surpass $100 million in profit within five years and expand globally, despite the fallen neobank s losses multiplying since inception.
A confidential investor presentation, obtained by
The Age and
Sydney Morning Herald, made forecasts that Xinja would be in the black within two years and post $138 million in profit by fiscal 2026.
Xinja’s financial records show its losses have multiplied since it launched three years ago and auditors have consistently warned of insolvency risks. In 2018, the company reported a loss of $6.5 million, which subsequently increased by more than five-fold to $35.8 million this year. ....

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