We would love to hear your thoughts about our site and services, please take our survey here.
@davest100, thanks for this. A helpful reminder. If only everyone followed these rules all of the time.
I think that AZs background is in sales and marketing in the regulatory sphere (please correct me if I am wrong). I think his talents at sales and marketing are evident to all.
One thing that does surprise me is the continued fall in the share price given the clear passion that many have for this share (i.e. as evidenced in the majority of posts on this site - with many even stating they will not sell for years). I think that it can only be due to insiders and early investors selling. I find this whole MM manipulation theory unbelievable - that's just for conspiracy theorists. The same people who if/when the share price gets to zero would still be shouting "but that's not the real price, it's all those damned MMs".
I think it is quite telling that as the share price has fallen the posts of WG, AP etc have started to have a whiff of desperation about them.
Anyone who wants to follow the crowd just needs to follow the posts that are most recommended. Very easy to do. This is commonly referred to as the dumb money. But don't worry, I'm sure there will be plenty of opportunities to throw good money after bad.
Of course on a positive note it is always possible that at some point AZ does get a financing and securitisation away. But the time it is taking demonstrates that this is not an easy proposition to sell. Clients don't want solutions that require aggressive accounting.
A few of us had suspicions that the company was going to struggle to get away the financing and securitisation so this RNS is not too surprising. What does strike me is:
1. At the end of September AZ stated the completion of this transaction was expected by end of October. Now he states that the objective is to complete this in "the coming weeks". This initial timetable hasn't been delayed by a few days - but, by the sound of things, weeks. It suggests that little progress may have actually been made in the last month.
2. The positive spin around the onboarding will likely frustrate customers. If I was such a customer I'd be saying: don't tell me that I've been successfully onboarded, just give me access to my bloody cash.
@weathergeek, if they can get this done I will definitely post a very positive message.
I actually think they will do this. They just need to find 30 companies that don't mind the aggressive accounting that is inherent in this true sale model.
But I imagine that being a salesperson at syme at the moment is hard work.
@mick2 - do you really think a customer will be happy just to wave goodbye to this onboarding fee if Syme can't arrange any financing? Non refundable or not that customer is going to be extremely unhappy and looking for redress.
It's very important that the company gets this Storm Harbour financing and securitisation away to start building credibility and demonstrating that the business model works.
If they can't, and I was a company that had already paid an onboarding fee, I would be asking for it back. The company would likely end up with all kinds of legal difficulties in such a situation.
@Micky1, I disagree. If many of these parties are acting in a fiduciary capacity for others you can't know, and may never know, who may be behind all of this.
What we do seem to agree on is that it is the stormharbour financing and securitisation that is critical. If we don't hear confirmation on this by Friday something has gone wrong.
@Apunter2, the only thing that is clear from all of your research is that you don't have a clue who is behind this ownership structure or who is currently selling. It is all much too murky and opaque and most of these parties are simply acting in a fiduciary capacity for others. In my experience those who aren't in the know are those who end up getting screwed. But good luck all.
@extrader, no-one is ever going to accuse you of being slow on the uptake. Another piece of the jigsaw slots into place. I also noticed that when you replied a few days ago explaining the reasons for the IPO that you missed out this reason - i.e. for the early investors to have a route to exit.