Member Info for Brighterfuture

I'll be honest Steve I bought here on a punt from a friend and I haven't looked into the fees properly as I can't get past the legal structure of the business. Given the changes neither can syme.

My understanding from the 'delivery model' which may have changed like everything else

The client pays syme a DD fee

If OK it pays an origination fee to start the funding application

Once IM has been accepted syme charges an annual license fee to the spv and the spv charges the same to the client for use of the platform

The remaining fees would be charged as the client buys back its stock

Twogood you're clearly the one who doesn't understand.

Taken from supply@me website...

Inventories are purchases at up to 100% of the purchase price and left 'on consignment' until such time you sell the inventory to your end-customer.

So they're not on consignment no?

Thanks for the response Steve but it still doesn't explain the entire process or how they'll account for the contradiction or true sale rather suggests they'll cross that bridge when/if an account flags it up. Seems like the whole process of buildings this business has been done in this manner

Exactly TA, the 'buy back', 'left on consignment' means if the company goes insolvent the products would not be deemed isolated and even classed as a sham finance as it contradicts a true sale as it leaves a credit risk, causing a whole bunch of issues.

Two good your chatgpt answered nothing only the bare basics of the term true sale and that securitisation exists, it has no mention of the structure syme is attempting.

I believe what Az Is offering is simply abcp with a new name, the same concept which caused the 2008 crash. A way to bypass credit control.

Sunshine would you care to explain from an accounting view how the goods can be sold as a true sale to make them off balance but be left on consignment?

Also how does an unsecured credit remove the risk for the funder in the case of liquidation?

Steve I'm sure an example can be found in any accounting firm, given they're a top 10 and audit for pwc (a top 4) they obviously are good at what they do.

Blanch they aren't liable if they don't sign it off, they'll only investigate when financial statements are submitted by a company not on day to day interactions so no.

Everything that Az has told shareholders would or should be summarised in a management discussion and analysis statement, that's where Az's web of lives will be shown. The fact that crowe won't sign it off and resigned tells you what they think of it

An auditor becomes liable to remedy from shareholders if they sign off anything that's classed as a misstatement/fraudulent. Given all the claims Az has made which havent come to fruition, the valuations of the business, the lack of transparency, they'd be putting themselves in the firing line by signing it off.

An auditor doesn't just look at money

Peak, poc should've only be claimed AFTER auditing, not on signing a contract. I could sign a contract to take people to the moon on a pushbike... Simmons & simmons give a good summary of the legal and accounting standpoint with similar examples of past cases (no this isn't a new concept). Its simply recharacterization

As set out in the Group's 2024 Interim Results, which were released on 30 September 2024, the Italian neo banking group and SYME decided to prioritise a programme of plain-vanilla inventory financing (up to €35million) receivables financing transactions (up to €100million) using the Group's Platform.

Not IM but should keep the lights on. I expect the sp to contine to be subdued till atleast August 2025 given loan notes maturity date. As for off balance IM, I still don't believe it's possible so I'm hoping this new programme will get us back to my break even

I wouldn't be expecting any share price improvement until July 2025, if the 'company' hasnt shut up shop.

0.00085 is the bottom I predict

Yes savvy we're all in on it to con you, we're all AZ.

How's the court case going?

I thought the original plan was to buy part of a bank not to partner with one. Nothing proposed now is remotely similar to what was originally spewed.

2g2d do you ask random questions to chat gpt and post the reply?

That was a very Az reply savvy, has a case been opened, has evidence been put forward and is their open dialogue with the bod regarding it or are the tg group just venting to each other?

I have no interest in joining tg, any information/ progression with a case should be openly shared to save any potential future investors

Or maybe it's that you called people 'losers' for still being here calling the company out, yet here you are crying over a post being deleted... big L

18 months since execution of the first IM, was it successful? Has it been accounted? Or is it part of a court case?

Avantgarde listing non material businesses is his only profitable one

You have to have a business that works to start one or it won't start.

Syme model is disguised loans, no sensible funder should touch it or prepare to face alot of civil litigation costs

He can't because nothing he does in the eye of the law changes the fact his business model is simply recharacterization.

That's probably why we can't get funders and why we've still had no accountancy updates regarding previous IM's.

The clowns here who bought into and argued that the pnp legislation was syme relevant didn't take note that its only relevant for finance securities, not a true sale

Divvy, after a quick glance at the link provided the 5 transactions today you talk about are 2x rewards (someone has deposited money).

Sass is merely a renamed protocol/mechanism for contracts so if any company chose to use the platform its used. I'm not sure of the relevance of pointing this out

Zero involvement

Crowe specialise in insolvency and liquidation, they were perfect for the job. What's not perfect is Az trying to simply change wording and call it true sale.

All the platform changes, placing spv's, partner companies in the middle won't get around recharacterisation from a legal standpoint.

Why have we never recieved feedback from previous IM's?

Why haven't pipeline IM's come to fruition?

Nothing was ever ready to go and the crooked italian banker knew it all along, he was hoping the law would change to suit his needs

27th March 2020 more like