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Don't suppose everyone could stop engaging with this idiot Chalker, report his lies and then filter him could they????
Just giving him more air time is slowly do majoritys head in. Much more pleasant experience when you bin him.
I actually think he's a banned poster called inthegame. Same writing style and stupidity
Just a thought
@Chalker just to understand your issue could u analyze and complete IFRS15 checklist for Syme business model?
1 Identification of contract with client
2 Identifying performance obligations
3 Determining the transaction price
4 Allocating the transaction price to performance
obligations
5 Determining the timing of satisfaction of performance obligations
@Chalker, yes stock company (I was simplifying re SYME).
This is the bullsh*t bit you stated as 'in your opinion'
'But if the client company has the inventory in its possession and the right and expectation to buy it back then the auditor will likely conclude that control has not transferred (IMO)'
'Regardless of inventory location and right to buy, the stock company own the inventory, they have given the right to buy but that isn't the same as the right to control the inventory in any way they want. The client company couldn't throw it away or use it for anything else as they could if THEY had CONTROL. They only have two options, to buy it back or not, that is NOT control.
You can argue 'IMO' for ever. The model has been scrutinised by cleverer brains than mine or yours
@cahoodle. It's the "stock company" not syme that is the "buyer". But if the client company has the inventory in its possession and the right and expectation to buy it back then the auditor will likely conclude that control has not transferred (IMO). The stock company can't even sell the inventory during this period - see bottom bullet on page 38 of the prospectus!
Chalker
If your not invested go to a forum where you are and leave the board pal
Or let me guess, you simply have nothing better to do .. Sad individuals, doesn't concern you but still feel the need to get involved.
MORON
Chalker it's not a sales. It is a 'loan' in essence against stock/inventory that a company may have, a way to free up cashflow. I am no expert but even I know how important that is in business and how it works, so how is it smoke and mirrors???
Chalker I've just put you on filter.
Good bye as we know your sort.
How many multiple aliases are you going to hide behind?
I think the big problem is still the accounting for the sales. Given that the client companies will have the legal right and expectation to buy back the inventory and this inventory is still on their premises I can't see how they can record a sale. The accounting standard ifrs15 is a control based model and control has not transferred. It's all smoke and mirrors. A reputable client is going to want to do robust due diligence on this and their auditor is going to raise all kinds of challenges.
Not looking at the detail chalker
"syme is keen to complete the signing of binding contracts
See , binding contracts .. plural
So they are Keen to finish the whole process .
Many clients lol
Chalked. See this is what I meant . Key work complete.. as in they are signing clients now
As I said the devil is in the detail..
@apunter2 and @Weathergeek
Thanks for keeping this bb sane and informative,I’m sure your input would help a lot of people.
@apunter2. Thanks. Good post. Looking at the 10 September RNS I can see what you mean. For example they state "syme is keen to complete the signing of binding contracts with regard to client companies forming part of the securitization portfolio by end of September". I.e they don't say they will. Just that they are keen to do so. Therefore they can't be held to anything. As you say the devil is in the detail.
I wish the RNS grammar hasn't been reviewed by Alessandro...we know AZ is not a mother tongue :)
Very useful post apunter2!
Sometimes it's just the fear of losing money that make people skare and doubt..
But in SYME we trust
apunter2 Great advice thank you and makes a lot of sense
Firstly you should keep in mind that RNS’s have to be true
Directors are under legal obligation to announce only true facts.
That is why company announcements made via the Regulatory News Service is a collaborative effort with lawyers involved.
Every statement has to be held up to legal scrutiny.
So how can a directors, who need to inform the market or need to support the sp manipulate the RNS to his advantage,while keeping it truthful and legal
They will affect both the timescale and actions of the company contained in the RNS
How do they do this, the use non specific phrases or words
For example, in the near term, soon, could, would. These are just examples but it is anything non specific
Say an announcement contain “the board of directs are pleased to announce they are in talks with x company and a further update will be released soon.
You will of probably thought, Great we are going to have new contracts or whatever.
I read that as nothing concrete, and soon could be until the next update saying talks are continuing and we will update the market soon ... eg BS
I am not saying sell sell sell, but I am saying look at the small details contained in the RNS to help you, along with your research, make better investment choices.
Now with all that in mind look at the 10th September RNS and look for those non specific terminology.
Remember these RNS’s need to be true and be held accountable under legal scrutiny
I said I love the RNS, today I picked a paragraph to prove my first post and then even referred to two words
Now the examples of specific wording from RNS
First line, As planned, company has received ...
which are requesting exclusivity... note- are not might or may ...ARE
UK Capital markets organisation have been positively completed.. not soon. HAVE Been. Past tense
Company have agreed the key terms ..... fact
Open market transactions as recent trading has proved... not conjecture.. proved
Please read RNS in detail look for non specific wording... there is NONE
Read everything twice I keep saying. I read that RNS 10/12 times.
The devil is in the detail, in every RNS announced by every company