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£1.5m funding provides around 4 months cash enough to get the first commercial contract across the finishing line with Gruppo Banoco BPM.
Look at it this way why wasnt the funding line based on a years upfront funding say £4.8m....
There was a very clear reason the board were aware that it would dilute the share price and being near to contract signage wanted to limit the dilution and minimise funding to the bare minimum.
.."There was a very clear reason the board were aware that it would dilute the share price and being near to contract signage wanted to limit the dilution and minimise funding to the bare minimum..."
(1) The board hasn't been so precious in the past, just consider its previous, highly dilutive financing efforts.
(2) The small amount is likely all they could get away with.
(3) You give the board too much credit/credence.
Occam's razor : the simpler explanation is usually the correct one.
AFAICS
Extrader
Wrong on do many different levels.
(1) The board hasn't been so precious in the past, just consider its previous, highly dilutive financing efforts.
Sorry what do you mean by 'precious', this is purely a business decision, its the future prospects that matters..your trapped in the past and ignorant of the future and deliberately stubborn to see a turn around because in your heart you want them to fail and go bust regardless!
(2) The small amount is likely all they could get away with.
Not really the funders would have measured risk and return versus what they could see from the track record to date and future prospects while the mgt team wouldn't just bother with a few months cash which wouldn't last long meaning further placement..4 months funding makes no sense to either party..its tiny!
(3) You give the board too much credit/credence.
You don't give them any justice, let alone credit for their efforts, the audit report was lengthy and transparent, the financial statements went far beyond what was expected explaining the business model in much detail. The fact that Banoco BPM and Neobank are negotiating heads of terms means contracts are nearing completion.
Occam's razor : the simpler explanation is usually the correct one.
Osims massage chair: the simpler explanation is you just want the business to fail regardless and will either give up and leave once progress is announced or continue whining while the business slowly takes off..There are way too many indicators SYME is on the up and you could end up with egg on your face!
TwoGood2Die: I traded some high quality banter with extrader in 2021, I seem to recall they educated me on the meaning of Curate’s Egg (a phrase I now endeavour to use regularly). I mocked them for their obsession to see SYME fail and remained steadfast in my assertion SYME would be a success and deliver a return on my average of around a third of a penny.
Two and a bit years and 90% down later, I wish I’d listened. DYOR WTFDIK DILLIGAF
(1) 'precious' = 'concerned', board obv hasn't been concerned about dilution in the past;
(2) you contradict yourself, you originally said the amount was kept deliberately small, now say it makes no sense....make your mind up!
(3) SYME's history is long on 'contracts nearing completion' , forgive me for taking a lesson from history. Maybe ' this time it's different'....maybe.
I've been following SYME since pre-IPO days, it's been very educational.
HTH
cant be ****d to read rns again so ill get ex or somebody to do it for me.
was this raise described as additional funding or as a replacement for the tag funding in the rns?
Ex - why? Whats in it for you?
I’m £20k down so if there’s money to be made in this sh*tshow, I’m all ears!
@TGTD...
I think you're making this up on the hoof mate...
I seem to remember you saying only a few short weeks ago that BBPM would be taking up a 20% equity stake in SYME and providing us with a working capital credit line...
I look forward to your next pearl of wisdom with eager anticipation 🕵️
Chewy, As previously announced on 1 May 2024 in connection with the Annual Report and Accounts for the year ended 31 December 2023 ("2023 Annual Report and Accounts"), the Company has been exploring alternative options for funding to allow it to meet its ongoing commitments and obligations. This New Equity Funding provides the Company with additional funding to that available under the Top-Up Shareholder Loan Agreement that was executed with The AvantGarde Group S.p.A ("TAG") on 28 September 2023, further details of which can be found in the 2023 Annual Report and Accounts.
So £1.5M to provide working capital. How much is RTOP dye from TAG before 14th June ?
RTOP
Subsequently, the Directors have been told by Mr Zamboni that TAG and RegTech Italy agreed in principle a negotiated settlement with the Purchasers and started the multi-phase execution process for such settlement on 4 April 2024. Accordingly, RegTech Italy and Mr Zamboni represented to the Company that phase 1 of the settlement process would result in RegTech Italy receiving and advancing to the Company US$1.5 million by 14 June 2024 and that in phase 2 of the settlement process RegTech Italy would advance a further US$1.0m to the Company under the SLA during the summer of 2024. Both phase 1 and phase 2 payments to TAG/RegTech Italy are subject to final approval and execution of completion documentation and activities.
AZ needs strung up.
Derampers getting desperate now that it seems SYME is about to turn the corner and make a success of things after so many false dawns and dashed hopes soon they will be silenced 🔕 😉
Hi y'all..
The need for a cash influx to keep this never-ending "start-up" business on track is not in question and doesn't give me cause for concern.
But what does slightly niggle is this paragraph in the RNS...
· Following the issue of the Subscription Shares, the Company will issue 450,000,000 new warrants to the UK investment firm, the exercise price of the warrants is 0.01725 pence each, with the warrants being exercisable anytime up to 28 May 2029.
Not much ambition there then for the share price in the next 5 years !!😱😱😱
Or am I being unduly pessimistic ?? 😂😂😂
GLA
🙈🙉🙊
There are 72 billion shares which no doubt will be consolidated at some point to 720m so 450k warrants is peanuts ffs!
You lot need to grow up and stop whinging its getting really pathetic now!..😊
I might exercise 10 of my warrants nxt week.
Get an rns issued for them.
Careful Chewy..
some on here are in need of a 'sense of humour' transfusion!!
As for the 2026 warrants ! Hopefully they will extend the exercise date to 2029 as well!!
My 'paper round' money falls a bit short !!😂😂😂
GLA