POSaBIT Systems (XCNQ:PBIT) Effective Interest Rate on Debt % : 27.60% (As of Dec. 2023)

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What is POSaBIT Systems Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. POSaBIT Systems's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was C$1.49 Mil. POSaBIT Systems's average total debt for the quarter that ended in Dec. 2023 was C$5.41 Mil. Therefore, POSaBIT Systems's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 27.60%.

POSaBIT Systems Effective Interest Rate on Debt % Historical Data

The historical data trend for POSaBIT Systems's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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POSaBIT Systems Effective Interest Rate on Debt % Chart

POSaBIT Systems Annual Data

Trend

Oct17

Oct18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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16.10

44.68

69.80

125.08

34.33

POSaBIT Systems Quarterly Data
	Jan19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															128.93	17.34	25.36	36.83	27.60

Competitive Comparison of POSaBIT Systems's Effective Interest Rate on Debt %

For the Information Technology Services subindustry, POSaBIT Systems's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

POSaBIT Systems's Effective Interest Rate on Debt % Distribution in the Software Industry

For the Software industry and Technology sector, POSaBIT Systems's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where POSaBIT Systems's Effective Interest Rate on Debt % falls into.

POSaBIT Systems Effective Interest Rate on Debt % Calculation

POSaBIT Systems's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -1.128	/	( (0.425	+	6.147)	/ 2 )
=	-1 * -1.128	/	3.286
=	34.33 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.425	+	0
=	0.425

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	5.982	+	0.165
=	6.147

POSaBIT Systems's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Sep. 2023 )	+	Total Debt (Q: Dec. 2023 ))	/ count )
=	-1 * -1.492	/	( (4.663	+	6.147)	/ 2 )
=	-1 * -1.492	/	5.405
=	27.60 %

where

	Total Debt (Q: Sep. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	3.935	+	0.728
=	4.663

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	5.982	+	0.165
=	6.147

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Dec. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

POSaBIT Systems (XCNQ:PBIT) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

POSaBIT Systems Effective Interest Rate on Debt % Related Terms

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POSaBIT Systems (XCNQ:PBIT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » POSaBIT Systems Corp (XCNQ:PBIT) » Definitions » Effective Interest Rate on Debt %

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POSAF:USA

Address

11915 124th Ave NE, Kirkland, WA, USA, 98034

Website

https://www.posabit.com

POSaBIT Systems Corp is a financial technology company. The company involves the point-of-sale arrangements designed to offer consumers an easy way to purchase goods and services. The company offers Payment Services and Point-of-Sale (POS) Services. The majority of its revenue comes from Payment Services, which generates revenues via setup costs, hardware costs, transaction fees, and convenience fees. Its geographical segments are Canada and the United States, of which all of its revenues come from the United States.

Executives

Alex Sharp

10% Security Holder

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