RE: IP owners28 Apr 2022 17:21
A great RNS in respect of giving SYME the comfort of financial stability after some previous costly deals but then spoilt by news of IP transfer news.
The IP transfer is kosher as in legal terms only.
Quote “IP created by the director will belong to them rather than to the company”.
In real terms AZ has stripped out a high proportion of Intangible assets, Gross value at £1,236,000 as of 31 December 2020. Any subsequent IP work done will also be included.
In accounting, intellectual property is considered an intangible asset, and, when possible, should be recorded as such on the balance sheet. Copyrights, trade marks and patents should be recorded on the balance sheet and other financial statements at or below, cost price.
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(Taken from the Publication of 2020 Annual Accounts)
Innovation & IP rights
The Platform's innovation is a combination of technology (software, cloud components, blockchain infrastructure) as well as the following components:
· innovative legal & accounting framework (which allows the Client companies to recognise revenues in relation to the inventory monetisation transaction);
· proprietary methodologies aimed at analysing the inventory risk around each transaction;
· a new asset class (a financial instrument in the perspective of the Inventory Funders) with underlying marketability of the inventory monetised.
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What's disappointing is the main man asset stripping when loyal private investors struggle to hold firm.
As previously posted, it was always going to be a choppy ride but on the plus side still believe it has legs.
I apologies for my emotional posts yesterday. I was furious, and for myself ruined what should have been an uplifting day.
ATB
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