So I have a few shares I received for
free from this company called Iconsumer.
They are one of those cashback companies. You buy stuff online and
they give you a small amount of cash back. One of the methods they
pay you is via bitcoin, which is why this post is on this blog. They
recently released financial statements and of course, as an
accountant I had to look over these.The statements are quite telling.
Let's look at Gross profit:
So the company gives out more money that it makes from its commissions. This seems like a really good product to use. This simply is not a sustainable business model, and I think the idea is to attract users and then lower the payback rate once they have more users. But that means the time to use this service is now when you will get the most of it! Check it out here!
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