Thanks for this. I invested in them (not a lot) and noticed the oddity in the way they declare customers. The big takeaway I got from that report and the numbers on their website was that the company is growing exponentially. If they continue with exponential growth then they will be massive in a fairly short amount of time.
Pandemic and job losses probably play in pension bees favour as well. Means there are more pensions that need consolidating.
I’m in it at £1.82 (probably should have waited a few weeks - maybe 40 shares…) just based on the exponential growth. The company’s fairly new, I like the vibes I get from the website and management.
Did not do the numbers you’ve done above, if I had I wouldn’t have invested at the price I have. That said I don’t think it will be a loss and I plan to hold it and add to it (might re think that) for a long time.
The risk factors I found interesting and it makes pension bee seem more like a sales platform than an investment vehicle (imho) and I wonder what tech they have that’s proprietary. Is it just the app and logo? There’s not much IP in a database and a MVC type app (I’m arguing that anyone can do it)
As I said it’s the exponential growth that won me over but that seems to already be priced in for a while (from your numbers above)