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It needs a material amount of money to fund an spv to buy the inventory. The IPO raise, much of which went out of the door in expenses and is going out of the door in opex, isn’t enough to acquire inventory. Have you read the prospectus? Do you actually know what this company does? It needs to raise money to fund spvs to acquire inventory and says it will issue bonds in spvs. None have yet been issued. There is lots of froth about funding, there is as yet no funding.
The finishing price is all over the place in many sites.
They dropped seconds after the close.. like that 16:35 trade isn’t a late trade hahaha,
Got to say though Friday despite the drop was more an orderly market.
Funny game this,
The company has not announced any material revenue in any RNS, which it is obliged to do in circumstances where such revenue exists. Sign on fees for eager corporates are very different from margins on funding plays. AZ is signing up folk hoping to be funded - he needs his own front end funding to be able to deliver on his objectives. Do also remember this company floated back in March!
It has access to it over 4 years. Cycling and will have for the next 4 after.
Front end funding? Can you explain what you mean a bit more, what exactly are you calling "front end funding" and why is needed over €8bn over 4 years and all the other funding and client avenues SYME have opened?
I mean, it raised money in the placing for Front end financing to set up the platform.
It is already seeing working capital coming in from clients as its an upfront payment
Cuffme .. err because it says so in a RNS “couple of days”
Give me strength .
Wish I just logged off and never seen Redbox’s direct question
Ffs lol
He said it in an interview that they are generating revenue in July august and September. You would know this if you did some research or just listened to his interviews!
And you know this as fact do you? Are you a company insider? If so then you should not be posting such messages on this platform, if not then you are guessing, pure conjecture on your part. Good luck in la-la land, try not to tread on any bunnies.
I don’t understand your post and don’t care to do so.
It doesn’t have access to 8bn in front end funding.
A ground breaking week is coming @FB @AP
There is no question the company’s offering, assuming it works as a matter of law, regulation and accounting standards, is beneficial to corporates, the current issue is the lack at present of any revenue whatsoever being booked by the company as it has still not been funded at the front end. If it’s funded it’s off to the races, if it isn’t it’s off to the liquidators.
@Cuffme, What a f**kin name for one! haha
Lets see how the €8bn pans out.
Also, revenue reported by CEO June, July, Aug. Upfront payment don't forget ;)
Redbox, there is an unwritten rule, like a good practice code for directors. We got the DW RNS on Friday, this good practice is two days after director sell . Depends on how they view the weekend. Could be Monday to Wednesday but the RNS will come,
They will do all this by the book now and they always have IMHO
The indirect ii in the Joint venture will make sure of it.
Haha, I was just messing @BG
I too find these boards very amusing. They are great entertainment and eductional at times.
However, I think a lot of so called "business" experts, are missing the points of why this is beneficial.
Highly covered by @Futures last posts.
Cuffmegently
Filtered 3 post boy
Adios.
Futuresbright. Your getting it, companies will line up round the block . Why? Because it’s good business practice..lol .. nothing to do with covid or banks not lending pre bank crash levels ..
Got to say brilliant posting and thank you futuresbright..
Over and out
Futuresbright. I just read the lines, know the RNS’s and laugh now.
Soon we will be over the line. Just one figures RNS
And I will be gone.
As that will prove up the model and everything else that matters like efficiency and client turn over has been addressed in the 10th and 21st RNS lol
I'm getting tired now.
It's not designed to be invisible. It's designed to be completely visible. Just easier on the eye than debt!
It's not about swapping assets for cash, it's about having cash rather than sh*t loads of debt and bucket loads of illiquid stock. It's an engine for liquidating hard assets.
This company’s financing platform is interesting, but it has not booked a penny in revenue yet. It has no funding at the front end and it has not set up an spv which has bought any inventory yet. Yes, there have been many RNSs about the MOUs and so on and so forth, but the hard fact remains it has not been front end funded and cannot fund anyone. This is not a dermal, it is fact. Fact, fact, fact a concept with which many posters here have at most a passing acquaintance and in several cases, none. This company has a great idea, the CEO is a visionary, is it worth the current market cap? Get some front end funding and yes it is. No front end funding, it’s bust.
I hope everyone here understands it’s not 6% of the total final sale value, it’s 6% of the materials used
Which is a massive difference.
@weathergeek
just have to respond to that! Brilliant as usual!
No such thing as an ex accountant! You are either one or you are not. I know plenty that have 'qualified' but will never be one at all!
However, it was not a challenge, well, not meant to be one. It was, as the title said, a serious question. The complexities of corporate financing are vast and beyond belief (and certainly beyond most on this BB). My only point was that ANY financing/fund raising etc, is not 'invisible'. On or Off balance sheet funding is perfectly visible to the serious analyst. Each have pro's and con's dependent upon the company's financial structure. There is no magic bullet which seems to be the prefered belief on here (That maybe a misconception on my part)
I'll check back in during the week. Really, really off to bed now!
Have fun
I'll entertain him for now AP - he's actually the reason I've got the tenacity to put people back in their boxes tonight. I love some negativity, I have some myself and have openly said. What I hate is 'babygyal818' or 'bigdogKevinfromyorkshire' making poorly structured one-liners about a topic they know f*ck all about!
Wg I realise that it is not a loan by the way .
At the end of the day companies will be raising funds at a cost of 6% for said companies - the question for me is is this the most cost effective way for companies to raise funds - I dont reallly care so much on what the balance sheet is perceived to look like - but the real cost to any participating companies - I am holding here
I actually think it appears to be a good rate
Futuresbright that extrader is a one, he’s been in and out of my green box a couple of times
Look at his posts In more detail. He will quote all sorts of info, regulations etc .. then states either no authoritative entity such as auditor will approve this .
That argument is long past valid, because of this
“ is pleased to announce that it has entered into a strategic agreement ("Agreement") with a leading European Alternative Investment Firm (the "Financial Partner") and SYME's shareholders, 1AF2 S.r.l. and The AvantGarde Group S.p.A. ("Co-investors"), to acquire a bank in Europe (the "Bank")”
So in the green box he will stay
Holly, you've come and said absolutely nothing, like every late evening (just before markets open, maximum effect).
I'll humour you in a way you'll understand.
I have ten penny sweets (10p). I sell ALL my penny sweets to a penny-sweet-backed financing company for 8p. I paid the upfront charge and now have 8p in my bank. Luckily for me because I'm a super smart boy and did my research (i knew this in advance), I handed 8p to a popcorn maker. I sell the popcorn for 15p (ooooh yeah check me out - it's called business). I now buy back my penny sweets for 10p and and i've banked some money, I'll let you get your calculator out and work out whether that was a sustainable endeavour.