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Or should I say lack of ! The guys a chancer …. End of 🙄
The whole thing is an example of Alessandro Zamboni’s ego ……..imo !!
And were these difficulties not highlighted in the interims?
An interesting question that no one is looking at, at the moment..
Today’s RNS states 2023 was a very very hard, difficult year. Wages cut etc.
So, why was last AGM so positive of the future? Just one to ponder and I’m sure it will be ignored..
Richred_uk
Can you be more specific in sharing the link where it claims there was a 99% shift from UK to Italian clients, cheers in advance!
The LOI is a new initiative that they have brought in that’s why - it’s only been very recently introduced as an extra DD methodology hence the included figs (new LOI) as opposed to previously mentioned figs (pre LOI required)It will catch up. You’re focusing on the wrong thing there Rich. IMHO DYOR
‘For this reason, in order to support the inventory funding processes managed by the CH Trading Hub, to date during 2024 a new process has been introduced where client companies are asked to sign a Letter of Intent ("LoI"), which going forward will be the catalyst to inclusion in our pipeline numbers, this new operational KPI is referenced below.
For the purpose of the Annual Report and Accounts for the year ended 31 December 2023 and this announcement, we include reference to the pipeline KPI used in previous years which represents the current potential value of warehoused goods inventory to be monetised rather than the pipeline revenue to be earned by the Group as well as this new measure which is underpinned by those client companies who have signed an LoI or term sheet ("New LoI pipeline number"). The new LoI process has been very recently introduced and the associated numbers are currently low, we anticipate being able to provide a stronger indication of the pipeline in our next market update.‘
And this was removed too just a reminder what certain agenda driven people on here only want an echo chamber of doom and gloom!
What was also removed and now reinstated!
‘Bless them just look at the pathetic Telegram crew trying to start endless negative thread titles - at least co-ordinate lads! This is 4 long years in the making and 2024 we reap the rewards. I think the ii passengers and funds with blockchain and fintech partner experts partaking have way more experience than yours! From this level it is one hell of a buy. Back in 2020 similar negative hounding and I bought and bought and what suddenly happened then a 1000%+ bounce! Take your positions longs it really won’t be long before we see this again and we can already see those naked and exposed shorts algos (we see you) trying to do so. You will get very little from the pi now as the WL drums I hear is coming up your rears! Ouch! IMHO DYOR‘
Thread reinstated below - a reminder what THEY wanted removed! A lot of effort guys. IMHO DYOR
‘That was a read and a half - critics can’t claim there’s no detail, they covered every single facet! 2024 is kicking it all in to place to reap the rewards; with so much volume of work completed and built in terms of the IP and first mover advantage platform & full working multi models & now full IM deal. There is no way any rival could in any way do what @supplyme have achieved albeit it’s taken far, far longer than any of us anticipated but in doing so they have actually built a better future proof model which will revolutionise global trade inventory management and monetisations on many levels! IMHO DYOR
In summary-
‘Alessandro Zamboni, CEO of SYME, said: "I am pleased to report that SYME has made tangible progress during 2023, and following the announcements we have made already in 2024 regarding the commitment for the first White-Label transaction and the opportunity to commence work with the investment banking industry, we are excited about what lies ahead in 2024. The first two successfully executed Inventory Monetisation transactions confirm our model is an effective solution for our corporate clients. Additionally, I believe the Inventory Monetisation transactions are a safe asset class for inventory funders, and those who have already joined us on our journey are receiving attractive returns on their investments. This leads me to conclude the Group is better positioned now than ever before in terms of commercial opportunities despite the challenges we have experienced with our corporate funding in recent months.
The team are now prioritising the completion of the first White-Label transaction, the implementation of the security token and the IM securitisation programmes. Alongside this, we are focused on ensuring our corporate funding is sufficient to implement these priorities as the Group moves towards the breakeven. Looking further ahead, we hope to be able to generate sufficient returns for our loyal shareholders which includes both institutional and retail investors."
Albert Ganyushin, Chairman, SYME, said: "The progress with the White-Label IM in partnership with a leading commercial bank, tokenisation backed by leaders in digital asset finance and now the agreement with a neo bank to fund companies from our Italian pipeline, clearly demonstrates the market relevance of our innovative product, which is evidently gaining traction with leading players in their respective market segments. The team managed to overcome many challenges in 2023 and put in place foundations for SYME to start delivering in 2024 on its tremendous potential of reaching a large addressable market."‘’
Why did you feel the need to get both my positive posts taken down why did it need removing with 12 recommendations? That’s a lot of effort guys! WL is coming down the track to spank you! Ouch! IMHO DYOR
The pipeline details had some interesting notes:
" Client companies from the UK included in the overall pipeline KPI have inventory equivalent to £1.8 million as at 19 April 2024, (£212.1 million as at 21 April 2023). " A 99.15% drop.
"Client companies from Italy included in the overall pipeline KPI have inventory equivalent to £318.6 million as at 19 April 2024 (£162.5 million at 21 April 2023)." A 96.1% increase. This global funding platform seems to be VERY Italy-centric right now.
Total pipeline down from £374.6M to £330.7M, an 11.7% drop. And of the remaining pipeline, 91% has not signed an LoI or term sheet, so could have lost interest in the entire thing! Might be a good thing that the "€135M" funding will be released in €35M tranches, as 1 tranche would seem to cover the entire committed pipeline on current figures.
Why would we be bothered about that on a Syme board 🙄
'"Ah yes the dastardly telegram shorting group.."
We live in a victimhood culture : it's always somebody else's fault.
57% of pipeline is 1 customer, unnamed...
At the date of this announcement, approximately 9% of the £330.7 million current pipeline figures are supported by either signed term sheets or the signed new letter of interest.
It turns out that getting release from existing banks' floating charge has been an issue..
Quelle surprise. Not.
GLA
Ah yes the dastardly telegram shorting group..
😂😂😂😂
Silly bùgger
Syme on the rise our white label news be next good look all serious holders
Headline news
https://www.telegraph.co.uk/business/2024/04/30/lithium-miner-submits-plans-to-drill-in-durham/
So my positive overview post and this thread was removed WTF clearly the disgraceful Telegram shorting group are getting worried. Admin WTF nice work - complaint going in to LSE! IMHO DYOR
"I regret buying back into this again and should have known better"
----
Unfortunately typical PI mistake...hope your average is not too high. I expect some sort of re-rate once we get IM execution news plus any financing news (ideally non-dilutive). SP unlikely to get back to even half the previous highs though which is tough for LTHs.
I regret buying back into this again and should have known better and trusted my instincts. Az knows himself that they are struggling and he is also hoping for a miracle.Reading between the lines he is saying they need money and he is using the word hope, more like wishful thinking. The next RNS will be begging for money or shutting up shop. Companies like this are living in cloud cuckoo land. I guess we can only wait and see . Good luck to everyone that has put money into this thing.
Looks like there still Is a heavy seller , smashing the price lower so they can repay some of the money owed…
Our year, Really? I suppose only a 6% drop in SP since RNS is a good thing then is it
Https://www.researchandmarkets.com/reports/5766554/tokenization-global-market-report
As already stated plus indicated by numerous token testing over the last 12 months. Heres an explanation.
Tokenization is a process where a company issues digital tokens, which represent ownership or a stake in an underlying asset or project. In this context, "tokenization efforts" refer to the act of creating and issuing these digital tokens.
By partnering with leading companies in digital asset finance, SYME is likely leveraging their expertise and infrastructure to facilitate the tokenization process. This could involve various activities such as token creation, smart contract development, compliance, and marketing to potential investors.
The mention of an agreement with a neo bank (a digital-only bank) further suggests that they are exploring innovative ways to fund businesses, possibly through the issuance and sale of these tokens. The neo bank may be involved in providing banking services, managing transactions, or facilitating investments related to the tokenized assets or projects.
Tokenization can indeed be used as a means of raising capital. By issuing tokens, companies can attract investments and generate funds for various purposes, such as project development, expansion, or funding businesses in their pipeline, as mentioned in the statement.
It's important to note that tokenization and the use of digital assets are relatively new and often subject to regulatory considerations and compliance requirements. Companies venturing into this space typically work closely with financial experts and legal advisors to ensure the process is secure and compliant with applicable laws and regulations.
Zen there is a lot to read in the rns its the longest one I have seen yet we need the deal signed and binding to get revs in to give them some cash. At Dec they had 5k's worth of cash. They have made the effort to cut wages and admin costs which defo needed to be done. But right now they need a few more million to keep going. So the question is where are the funds coming from a raise or a deal.
Zen,
Why is todays RNS / 2023 better than expected?
In two days two RNS, yesterday was good and today's RNS better than all the pessimists expected. I believe that the next RNS will be a great event for shareholders and long-term shareholders will be rewarded for their patience