Amazing AI plc (AQUIS:AAI) the fintech group listed on the Aquis Stock Exchange, has revised its financial strategy by amending a loan agreement with its chief executive and cancelling a recently announced retail share offer, citing changing market conditions.
The London-based firm, which specialises in online consumer lending and artificial intelligence-driven finance services, confirmed that it has altered the terms of a previously disclosed loan facility with Paul Mathieson, its CEO and the primary lender. The amendment permits Amazing AI to draw down funds for issuing consumer loans of up to $5,000 each at a strikingly high annual interest rate of 59.9% to borrowers in Georgia, US, a market known for its relatively permissive lending regulations.
Notably, the revised agreement eliminates the need for additional written consent from Mathieson each time capital is deployed for this purpose, effectively streamlining the company’s access to capital from the facility. Amazing AI also disclosed its intention to explore further amendments to the agreement that would allow the company to fund cryptocurrency acquisitions under its recently adopted Crypto Treasury Policy, again without requiring additional written approvals from the lender.
The firm plans to begin purchasing crypto assets this month, starting with exposure to Bitcoin. This move aligns with a broader trend of smaller fintech and tech companies experimenting with digital assets as part of their treasury diversification or speculative growth strategies. However, such strategies remain contentious due to volatility concerns and evolving regulatory scrutiny.
The loan facility, and its amendment, is classified as a related party transaction under AQSE rules due to Mathieson’s dual role as CEO and creditor. The board, excluding Mathieson, stated that it believes the terms of the arrangement are “fair and reasonable” to shareholders, following due diligence.
In a separate development, Amazing AI has cancelled its WRAP Retail Offer, which had been announced just days earlier on 29 September. While details on the size and pricing of that offer were not disclosed at the time, the company said it was abandoning the plan due to changing market conditions, though it left the door open to revisit a retail raise in future.
The back-to-back announcements point to a company recalibrating its capital strategy — choosing private lending and internal initiatives over public equity fundraising, at least for the time being. Whether the shift towards high-yield consumer lending and crypto exposure will bear fruit remains to be seen, but investors are likely to scrutinise the risk profile of these moves closely.
Amazing AI, which trades under the ticker AAI on AQSE, has not yet provided updated guidance on loan origination volumes or potential crypto allocations. The company continues to position itself as an innovator at the intersection of fintech, alternative credit, and digital assets.