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Hi peakhope
(1).."AZ may have been over confident and over egged it at times but we can’t prove he has lied 🤷♂️.."
Was he lying or just misleading (and, in terms of outcome , is there a difference?) when he
(a) supported a valuation in the RTO that -on further reflection- he was happy to write down substantially a few weeks later ? The valuation was based on illusory human capital and a business plan : who could honestly find that credible, least of all a self-professed expert on regulatory and accounting matters?
(b) when he approved release of a Prospectus that singularly failed to mention (save by implication) that the TAG Concert party would be offloading £ 40 m worth of shares at the same time it was seeking £ 2.2m from the public?
(c) justified the pledged shares for loans in a Proactive interview stating that the funds raised would be used by 1AF2 to provide security margin for a first IM (this was back in 2020...)?
the same feature of being 'economic with the actualite' has been the hallmark of practically every subsequent RNSable development.
(2) with this track record, it beggars belief that you can then write " I’m not so much bothered about the past as it’s gone and there’s NOTHING we can do about it .."
Well, yes, there is , actually : there's an an old adage to the effect that those who ignore the past are condemned to repeat it; another that 'history may not repeat itself, but it does rhyme; and a third that insanity is repeating the same action and expecting a different outcome.
[At least I'm self-aware enough to acknowledge the irony in writing this : that I've been quoting these clichés on this board for years, cliches that have stood the test of time....and it hasn't convinced you to change your mind yet ....! So maybe the joke's on me.]
On a different note, Warren Buffet saw things this way : “When a management team with a reputation for brilliance joins a business with poor fundamental economics, it is the reputation of the business that remains intact.."
We can maybe still argue the toss about SYME's fundamental economics, but it's surely beyond doubt that any reputation AZ may once have had for brilliance hasn't stood the test to time.
ATB and GL
Do you know what a front man is?
Like when someone's property or business is under somebody's name but they aren't the one making the decisions
Luckybob
I thought TAG was essentially AZ and no/one else
There could well be some truth to RNSs re Nasdaq and pledges and however unsavoury they might be so long as we benefit from it eventually I’ll take it - AZ and partners are always going to be at the front of the queue and get their rewards long before we do - we are just discussing it atm in TG - loaned shares and is it best for AZ lower sp or if he needs to sell some of his shares to settle a higher sp might be better 🤷♂️
I'm not even sure AZ is anything more than a puppet on a string as far as TAG goes
I do agree with the majority of that peak.
But to me the past is important.
Things like Nasdaq and share pledges are enough for me to say he's deliberately put out RNSs to enable other to offload.
Which was my reason for saying nieve investors. Because not for one moment do I think those RNSs were anything more than part if a cunning plan
I agree LB - but again we don’t know the reasons the aforementioned did not materialise - stormharbour went bust - we may have had funders who were interested at one time only to find out regulations prevented them - look how long it’s taking WL AZ and team have been working on it for a year before it was RNSd and we are still waiting for it , financial sector is very strict and hard enough to navigate through at the best of times without introducing a new asset class - AZ may have been over confident and over egged it at times but we can’t prove he has lied 🤷♂️
All listed companies use other people’s money it’s why they list it’s what we’ve bought into - I have a list of questions to put to AZ the 1st being Nuburu and why especially as it left syme exposed without funding , I would like to know the reasons for this decision and how LTH will benefit from it - I’m not so much bothered about the past as it’s gone and there’s nothing we can do about it , I want to know the plans for moving forwards and when will we see significant revenue generated 🤞🙏
Peak, most of us invested off the back of information given.
Some of that information includes
True sale being bullet proof
Storm harbour being close to completion
The pipeline which turned out to actually be just people who'd said they might be interested
The fact AZ insisted we had multiple funders, multiple times.. ect
I won't go on about the captive bank and 8bn funding because that was after I invested.
So it's really nothing to do with "getting rich overnight" and more to do with facts been misrepresented
just for balance - some would say the naïve investors are those who thought they would become rich overnight by investing in a penny fintech start up with no poc and absolutely no revenue generated or think because of none delivery and awful sp means ceo has lied 🤥
personally i don’t know if az has lied or not it’s been discussed in tgs at length - if az has lied it’s market manipulation and illegal and must be proven - some say it can’t be proven so it’s unclear if az has 100% lied or not , i don’t know if he has or not and without proof other than the sp been on its **** it’s just unsubstantiated accusations - if you look at other shares -maru , prem , copl and many other shares where investors are disgruntled there are accusations of ceos lying - the common theme with all these including syme are lack of delivery !!
on the other hand - if sp wasn’t where it is and all shareholders where in profit i doubt weather anyone would interested in lies or not 🤷♂️
i can understand the frustration and anger i can also see the reasons why people might think az has lied but the clue is there , they “ think “ he’s lied but they don’t know he’s lied and for me this is where i will wait until it’s proven before i call someone a liar - it’s only my opinion and i realise it’s the negative posts that are top of the popularity rankings at the moment but hopefully not for long 🙏🤞
As in hear hear 😜
Here here 👏🏻
Well the thing is, there's those nieve people who just take AZs word at face value and then there's those of us who think he's a liar.
No amount of him telling me he's not a liar will make me believe him , because liars lie.
So there's absolutely no way I'm wasting a few hundred quid and days of my time going down London to have someone lie to my face. It would be the best part of a grand and he's already lost me 30k
I'll submit some questions and I expect they will be ignored like previous years. But I will still submit them.
But at the end of the day, everything AZ has done and said has been for his benefit and at the cost of us shareholders and he knows it because that's exactly why he's put out far too many deliberately misleading RNS and interviews to argue otherwise.
Though I wont bore anyone with the list, as we all know it off by heart.
Syme is a UK listed company so AGM has to be held in UK - it’s not as dire as you might think - a lot of genuine share holders meet up for a coffee and a chat before AGM and go for a pub lunch and a beer after - some very funny characters from all walks of life , the meeting up of shareholders is actually better than the AGM 😀👍
AZ will be attending AGM this year , I’ve asked and his reply was “sure “ also said he will answer any questions 😀
AGM is a professional event and legal requirement, most attendees behave responsibly and respectfully and I’m sure AZ and BOD are expecting some difficult questions they are probably also expecting it to be the same as previous AGMs where the most vocal shareholders don’t turn up 😉😂
Good point upzeplums , I think you may well be right about having a physical meeting where shareholders can attend - it would stand to reason. In any case AZ , Bert & co will have a much less bumpy ride IF they can get first WL done BEFORE the AGM.
I think it is fair to say that most of us have had it with all the flannel and chit chat and let's face it , that is exactly what you will get at the AGM whether it's online , in London , Rome , New York , Paris or Peckham!
As it's looking like an all male affair in daylight hours with no music , no alcohol and , I think it is fair to say , no shortage of unhappy punters I will be giving it a miss , in fact i think it all sounds positively excruciating and , given the choice, I would probably prefer to have my Knob sand blasted!
Just wake me up when they...
A) Have got WL done and...
B) Are following it up with multiple IM's in quick succession
Rant over..
Have a lovely day...
Bye 👋
I thought the AGM had to be in person with the only exception being during Covid. Of course they could hold it in Italy I guess
What, like the investor presentation where AZ seemed to be chairing the meeting from a bat cave ffs 🤦🏻♂️
Shocking if they do that. But then this is SYME..
...same thought had crossed my mind.
I doubt they would do it in person this year unless news was to be released.
I am going to turn up at the agm if I am allowed in but I got a habit of opening my mouth
I think the AGM needs a real kick from LTHs this year (including me) I don’t think any of us are happy (all differences aside)
At the end of the day we all bought in to this and no one can be happy. Even the sternest supporters.
I have let my view get in the way of who I blame and happy to apologise to anyone I have offended but the reality is the current SP and lack of delivery. It makes me sick how we have been treated. But we pays our money etc…
Thanks Peak. What did you take last year?
Proof of holding - contact your broker or syme once AGM is announced and you will receive details of what documentation you will need to bring 👍
I hope that everyone with a strong stomach are still holding on the their 'Golden Tickets'
... https://www.tiktok.com/@diane.cunk/video/7297948586900196640 ...
😂😂😂 😂😂😂
🚀🚀🚀🌛🌛🌛
GLA