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So at nearly 6pm today AZ controlled entity RTOP released shocking results. Blaming challenges on the partial performance of the TAG loan. It’s almost a cliche that AZ the shadow director and majority owner of RTOP actually released results just before the long weekend - now what’s he trying to hide……..
AZ in a lot of trouble if you ask me.
What’s the plan? To fill his bank account.
He’s going to court if you ask me, days numbered to how he gets out of this massive hole he is in.
says something when you need your main company to bail you out the **** which can’t deliver a **** on a plate 🤣
And honestly, I’m not laughing inside. I sadly have many shares in this shambles
If you read the Rtop rns , it will remind you of something…. more jam tomorrow, just like the Syme rns’s. What a mess Scamboni’s in 🤷🏻♂️
We will see what we will see.
RTOP is a straight start up..dud they not generate £40m on listing which will no doubt fund their gradual growth.
SYME is a more established fintech player, still very early days and operating in a completely different business environment than RTOP.
Hopefully the results when released will highlight progress made with Banoco BPM and WL IM moving to a mainstream lending product.
There are of course no guarantees of this and Banoco BPM could cancel at any stage for any reason..
Hence we could see good progress and the share price surges or crashes if the bank rejects the WL IM offering...I suspect its successful but will take time to slowly ramp up with a huge amount of share price pent up volatility expected in the coming weeks!
TG2D
That’s just plain wrong….
No sign of £40m being raised at RTOP… AZ may have made a paper gain on listing but no cash made its way to RTOP which is relying on TAG cash which like SYME has failed to arrive as per the contracts. Hence cash strapped RTOP is looking at alternative funding options.
They listed and TAG owned 65% , they never paid for any of those shares as far as I know.
Then AZ handed out warrants to oay debts.
RTOP is literally the proof of how dodgy he is.
Listed at massively over value and used as an instrument to make TAG money.
Except nobody apart from peak was buying any, hence the price is what it is now
Wiggy
The RTOP Prospectus states that £17.483 million shares were sold for £1 which raises the question why can’t TAG pay the cash owed to SYME and RTOP?
It’s a mystery.
Sorry isn't this the SYME BB?
TG2D,
Yes it is the SYME bb however RTOP is a related company and it management style is highly relevant to the discussions here. SYME has been the main customer of RTOP 8n previous years.
Now tell us more about the £40m?
AZ is linked to both and I believe it’s relevant because he has made a complete hash of both !
Make your minds up he either a scam artist and done everything on purpose.
Or tried and failed which makes him rubbish at hos job.
I would say he’s an aggressive share promoter - set on the path by DW. Desperate to keep the pretence going he’s now got so many plates spinning that it could all come crashing down.
RTOP was the final straw for investors and most aren’t getting fooled again…the end game is wealth from share shenanigans rather than genuine operating business. I’m surprised he is still at SYME, although probably can never leave in case others discover the bodies…
WiggyP
It he was a scam merchant why all the time and hassle working with Banoco BPM who no doubt would have done a significant amount of dye diligence and investigation of his business background no doubt involving TAG and RTOP.
Think you are over exaggerating things somewhat.
RTOP raised alot of cash on listing now sitting with TAG..I'm not familiar over why there are issues with funding RTOP, maybe there are tax benefits in not doing so, either way it's really not relevant here..You've been reminded this is a SYME BB nothing to do with RTOP.what matters here is whether Banoco BPM progresses with WL IM or not, and if so, when will expected breakeven point be reached ie c.€1 billion of WL IM deals be reached..
Do you guys know just how hard its is getting your product in front of a major bank such as Banoco BPM, how much background due diligence and investigation goes on by the bank into the suitability of applicant, their personal background, businesses owned and run by them, that's even before you get an initial bank/supplier meeting, and think of the thousands of eager suppliers who get turned down in the process even before their trial period commences.
Seriously you guys think you know the truth I would say seriously deluded!
Do you know how hard it is to get a small fintech off the ground you can't just rock up to any lld bank and say give me a funding loan and count private equity out they are only interested in getting as much control and ownership of any new promising business idea at a hefty price with many strings attached...hence your funding opportunities are very limited.
You seriously need to stop these unfounded allegations it's getting really absurd now.
What matters is if the WL IM concept works or doesn't and if it does what is the future growth expectations and timelines for adoption by other banks.
Just to make my opinion clear.
I dint think syme is a scam or a fraud.
I think it's a great concept that had a dodgy individual running it who over egged the pudding to get us all to buy shares then wasn't honest about the problems he's faced or the interest shown in it.
I think he's a chancer who thinks he can get away with doing whatever he wants and hasn't been proven otherwise and he deliberately set the company up in a way to make sure we couldn't do anything about it.
Everything rests on getting the WL deal done and then rolling it out very quickly to a point the company doesn't need financing.
Or getting that large deal done with thingy mbob, which will be the only significant revenue if he pulls it off.
But at the end of the day he's misrepresented the situation, the valuation of syme, the valuation of tradeflow, the valuation or rtop all for his benefit and at the cost of anyone who's bought into the story he sold us all .
Hence my opinion on the man is what it is.
LuckyBob23
Then why bother with Banoco BPM he could exit with the cash held by TAG and liquidate both RTOP and SYME..
He's going toban awful lot of time and trouble getting the business ideas to work.
Abd business, well, that's afterall 'chancing', in the same way you ploughed your hard earned cash in here expecting an over night multibag...Maybe both sides got it wrong, failed to understand the complexities and likely timelines for IM given the challenges with all he different jurisdictions, legal frameworks, tax laws, accounting rules in different countries, software timevand cost for development and deployment....maybe AZ did over egg his ramping of future prospects and it needed Albert to reel him in to a reality check, IM wasn't the holy grail and wasn't going to happen over night..
Hopefully we should get an update next week and see where we go from there..I think we need to see the outcome of Banoco BPM progress first before running around cloak and dagger in hand.
I wish people would stop using silly arguments like " expecting an overnight multibag"
I bought in like most on the 300m IM due shortly, as in months away.
As well as the huge pipeline, later discovered to be grossly misrepresented.
As well as "we've got lots of funders"
Basically the information we were given in RNSs and interviews.
That was approximately 4 years ago. 😅
Dont forget AZ’s private messages to investors who emailed him.
Reassuring them im’s were imminent!
IF the snowball affect takes place.
Over nxt few years could hit 0.1 per billion montetised via WL.
So the magic 1p at 10b monetised.
Tbh I think hes got minions doing his bidding, sharing private stuff to relay into telegram or twitter.
Either that or they're dense or making it up.
Same with that bloomberg screen , either AZ is using one of his many accounts to make it look like loan shares or someone's falsifying the screenshots for him.
It wouldn't be the first time someone's created fakes
Obviously I don't know the people in supposed contact getting private messages..
AZ stopped replying to my emails about a 3 year ago.
So if those are genuine people getting fed lies directly from AZ , then I apologise for my last comment.
I just think it's all a bit suspect , specifically one of those people relaying stuff on here
I had plenty of replies from him via email when i first invested and i saw a 400% rise, shame i did not sell!
Even remember him popping up in a telegram group one day 😂.