Made up financials ? If you read the thread you would see the...

Made up financials ? If you read the thread you would see the angle in which i am coming at. The angle that by calculating bad debts against underlying merchant sales (which APT does) or against revenue, is misleading and somewhat useless. These companies are in the industry of collecting money (receivables) over a period of time and thus the bad debts % should be calculated against its gross receivables as it shows that out of the money which is owed to the business, how much of it has not been paid back after the set time period (reflects the companies lending criteria, customer base etc). As I said before, APT bad debts when calculated against the same method Z1P uses (against the receivables), is a whopping 8.15% vs just 2.28% for Z1p. This is not sustainable.