Summary of Maha Capital (0GEA) Update / Briefing August 28, 2025 Company Overview - **Company**: Maha Capital - **Transaction**: Combination with Kyo, a fintech platform for B2B credit card business Key Points Industry and Market Potential - The fintech industry, particularly in B2B credit card services, is experiencing extraordinary growth potential, especially in the U.S. corporate market [6][7][8] - The Global Trade Card program aims to capture a significant share of the $170 trillion global cross-border payments market, with a focus on B2B transactions [34][35] - The B2B share of global cross-border payments is estimated at $165 trillion, with Latin America accounting for nearly $80 billion in formalized transactions [34][35] Transaction Details - The original debt facility agreement of up to $100 million at 12% interest has been converted into an equity transaction [10][61] - Maha Capital will raise $35 million in total, with an initial capital raise of $5 million expected within 30 days [14][16] - The total capital structure post-transaction will include approximately $155 million, making it attractive for senior lenders [12][29] Financial Projections - Potential to achieve $6 billion in total annual transactions, with projected revenues between $100 million to $130 million [30][31] - Expected net income could range from $40 million to $60 million annually, based on industry average net margins of 40% to 50% [31] - The program aims to leverage a 20% equity to debt ratio, potentially raising $500 million in senior lending [29] Competitive Advantages - Maha Capital's unique position allows it to issue credit cards in U.S. dollars across multiple Latin American countries, providing a centralized solution for corporate clients [67] - The combination of a robust balance sheet and proven credit card platform positions Maha to capture significant market share [18][34] Technology and Innovation - The integration of AI-driven analytics and data monetization tools will enhance client offerings and operational efficiency [8][56] - The Global Trade Card program aims to streamline corporate expenses and improve financial reporting through advanced technology [58] Management and Team - The leadership team includes experienced professionals from American Express and other financial institutions, enhancing credibility and operational expertise [41][44] - The partnership with Kyo is seen as a transformative move for Maha Capital, focusing on short-term credit issuance [43][44] Future Outlook - The company plans to dual list on the U.S. NASDAQ exchange to increase liquidity and attract strategic investors [17][77] - Operational milestones will be disclosed in upcoming press releases, focusing on cumulative transactions and growth targets [68][94] Risks and Considerations - The transition from a debt to an equity model is aimed at long-term shareholder value but carries inherent risks associated with market fluctuations and operational execution [61][62] - The competitive landscape in the fintech sector requires continuous innovation and adaptation to maintain market position [39][40] Conclusion Maha Capital's strategic combination with Kyo positions it to capitalize on the growing B2B credit card market, leveraging technology and a strong management team to drive growth and profitability in the coming years. The focus on equity financing and innovative solutions is expected to enhance its competitive edge in the fintech industry.