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Is SYME abit like the WEIMAR REPUBLIC ?
Sharebel: Tradeflow Capital utilised p-Chip's technology years ago after engaging in case studies along with Walmart, Merck, IBM, FedEx etc. Disappointed as asset monitoring and asset tracking through IOT was on the list years ago. Major IM Capital won't commit without authentication, whether E.G. agriculture to track and monitor location, temperature, humidity, and other environmental factors in real-time. Basically, its boils down to accountability through verification. Shame it’s taken so long...
HI, key words in the following sentence are a) aimed at establishing a framework i.e. no framework exists at present, b) to study the integration of technologies - not integration to occur. "by signing a Memorandum of Understanding (the "Agreement") aimed at establishing a framework for collaboration between the parties to study the integration of the respective technologies." So, IMHO it is a RNS full of waffle.
Rns is full of waffle , I'm a share holder and I say after reading it ,it is months if not years away from implementation if ever. And one again in wafts Sharbel like a bad smell bigging it up. Based on what?
I like others very much want things to improve and news of a deal and company actually for once in its existence making some actual money ffs........
Allaboutbucks: Can’t disagree with objective analysis apart from “waffle” LOL. IMHO Syme’s have always been too keen to drop big names to early into RNS when their platform is not meeting all the criteria required by partners. It all seems back to front. I’d Prefer to have named criteria, completion and compliance publicised. Only when the platform ticks all the boxes should they release named financial partnerships. SYME would then demonstrate structure and generate confidence rather than the current stick a patch on it approach.
Still believe it can be done if they can stop chucking out the baby with the bath water.
GLA
Completely pointless announcement yet again. An MoU to study integration !
Not to do.
Over the past two years, the Consorzio del Parmigiano Reggiano has conducted extensive testing of the p-Chip/Kaasmerk Matec Casein label and approved the label’s technical use for the authentication and digital traceability of Parmigiano Reggiano cheese. “For more than 100 years, we’ve worked with artisan cheese producers to deliver casein cheesemarks that provide an invaluable level of protection for their recipes, helping to safeguard the passion and craftsmanship they bring to production of their cheeses,” said Winus Sloot, Managing Director of Kaasmerk Matec. “We are pleased to collaborate with p-Chip to develop this smart digital label that will track and trace CFPR the Consorzio del Parmigiano Reggiano ’s bulk cheeses from start to finish, providing additional protection and to both CFPR and consumers, as the label is highly resistant to tampering.”
The new smart digital food labels will be added to 100,000 CFPR bulk cheese wheels in the second quarter of 2022. This represents the final phase of large-scale "testing" before evaluating the possibility of extending this technology to the entire production of Parmigiano Reggiano.
So who is the Italian cheeser?
The Company announced that SYME and the working group (as referred to in the RNS announcement made on 3 January 2024 and includes Banco BPM S.p.A. - "BBPM" - and the WL Client Company) have been working closely to draft, review and finalise the detailed commercial contracts which will implement the commitment received from BBPM. Alongside this, the working group has been progressing the onboarding of the identified remarketers, at the same time as evaluating the opportunity for one of the remarketers to undertake a separate dedicated IM transaction. SYME had expected the contracts to be completed by the end of March 2024.
As of today, SYME, the working group and the external legal teams are finalising the review of the commercial contracts and further meetings are planned in the month of April with the list of eligible remarketers identified by BBPM to finalise:
- the remarketing commitment with the leading producer of the famous Italian cheeses, that is also a client of BBPM, to underpin the execution of the IM transaction; and
- the signed term sheet with the same remarketer to enable an ad hoc additional IM transaction with the remarketer.
Specifically, to deploy the first White-Label IM, BBPM, the WL Client Company, the Group and a dedicated Stock Company (which is owned by the CH Trading Hub[2]) have signed a binding term sheet ("Commitment") (subject to the finalisation of the relevant definitive commercial agreements between the relevant parties) which envisages the delivery of an IM transaction with the following key features:
- the WL Client Company is within the Agrifood supply chain, being a leading producer of the famous Italian cheeses;
- the dedicated Stock Company will fund the WL Transaction through a combination of the secured €8.5million bank debt from BBPM and €1.5million of equity investment from the CH Trading Hub;
- specific remarketers have been identified who will be directly engaged by the Stock Company to optionally sell the inventory (up to €10million) in specific circumstances. In turn, the remarketers could potentially be a beneficiary of separate dedicated White-Label IM transactions in the future; and
- the WL Client Company has signed a commitment (up to €10million) to become a remarketer of a potential client in SYME's pipeline which operates in the same supply chain.
A secured €8.5M bank debt from BBPM. Secured against what ? “Loan” money
Micky1
"A secured €8.5M bank debt from BBPM. Secured against what ? “Loan” money"
Hmmh..let's see try WL IM, duh!
2Good, a secured bank loan.
It would appear that the Stock Company (owned by CH Trading Hub) is the client for the loan. Let’s hope so. So possibly secured against inventory ?
Needs to be made clear as to what it secured against.
Surprised it took that long for anyone to question that line.
Anyway, it's secured against the inventory. There's nothing else to secure it against unless they've bet the company on it and I doubt the bank would accept the valuation
I actually questioned it along with other details the day the RNS was released in one of the TG groups but was instantly shot down by the party-time “told you so” ramping crews. I’d sold out at that point so my opinion was not worth anything apparently. Bought back since but still don’t really believe anything written or spoken anymore so just happy to wait.
Jeepers seems that sone posters here clearly don't understand the business model ffs!
Which part of the business model do you think I’m getting confused about?
I think it's you 2g2d that doesn't understand the not so subtle difference between
The bank is the funder
Or
The stock company is the funder and is taking on a debt with unknown interest rates.
But considering you were on at silly o'clock this morning trying to pull the wool over people's eyes that WL had been done already , I'm not exactly sure you'd highlight any issue with the wording of an rns.