Member Info for extrader

Hi LondonInvestor,

You too.
'Life is too short to be small'

ATB

.."What exactly is the relevance of the Phoenix reference extrader..."

That's the area where the FCA reports a backlog - the vetting of a certain type of company that has re-invented itself, Typically post bankruptcy or CVA, sometimes causing losses to creditors, after 'doing a runner'.

Commonly seen amongst restaurants and in the textile sector, for some reason.

A different ball of wax from a lifting of suspension, as is the case with SYME.
Where others have pointed to the timelines of various recent resumptions of trading that make clear that there's no similar 'backlog' in this area.

HTH

.."The fact that they have paid for and released thr accounts is a PLUS for me.."

You regard it as somehow noteworthy that a company has met its legal obligations ?

Not exactly a very high bar, is it ?

Neither your link nor Londoninvestor's actually supported the claim about FCA having a backlog relevant to SYME.

Hi Slippytoad,

From your link, the bit you 'forgot' to quote :
..."Exclusive: FCA drafts in outsiders to tackle authorisation backlog
Concerns have been raised about the impact on the regulator's battle against phoenix firms..."

"A phoenix company is a commercial entity which has emerged from the collapse of another through insolvency, the new company is set up to trade in the same or similar trading activities as the former,..."

Never let the facts get in the way of a good 'story'.
HTH

Hi all,

Andrew Bailey, currently Governor of the Bank of England, kicked upstairs from his previous role as Head of the FCA , is answering questions at Treasury Select Committee today - 3.30pm, the 'public' bit - over his/its mishandling of supervision of London Finance Co.....and his attempts to duck responsibility.

See https://committees.parliament.uk/event/3679/formal-meeting-oral-evidence-session/

It's SYME's bad luck that its various issues arise at a time when the FCA is doing a lot of CYA (because it previously did FA)....and will be doing things 'by the book' and wanting to be seen to be 'squeaky clean.

Might be interesting to watch, to get a sense for how the FCA sees its job.
HTH

Hi Londoninvestor,

You claim ..""Yes and FCA has a back log this is a fact as well.".
I ask for a link.

Your reply :
.."@extrader reported by the FT last week, I posted it earlier.
But you don't care about facts..."

Your earlier post :
".....Investors warned of Covid delays to UK company reporting season
Auditors may struggle to verify financial data during lockdown, regulators say..."
https://www.ft.com/content/37748ac9-c47c-41ae-bc64-8c2c81dcab79

Delays at company/auditor level in 'reporting season'.
Nothing about delay at FCA , which doesn't have a 'reporting season.

As a moment's thought would have made obvious.

But clearly not to you or anyone who mindlessly rec'd your comment just because that's what you / they WANT to believe.

HTH

Tks for the feedback !
That would be the 'going concern' comment raised by Crowe, then, at a guess..
Popcorn at the ready.

LSE regs - spamming.

"Yes and FCA has a back log this is a fact as well."

Can you provide a link to this 'fact' ?

'They have not done research in the company..'

You're havin' a larf.

Londoninvestor, pls :

.."The amount of 3rd party checks SYME has gone through recently with new clients, it wouldn't have signed any if there was something wrong..."

Firstly, most of SYME's activity has been Its checking on THEM, not them checking on SYME.
Secondly, if THEY were checking on SYME, you say that ' they wouldn't have signed if there was something wrong.'

Please name a single company that HAS signed.
I'm not saying that there IS 'something wrong', your logic fail ' proves' nothing either way.

'Absence of evidence is not evidence of absence'.
HTH

.."I don't mean to be pedantic but the wording is very important.
No-one knows what will happen but there is zero evidence to suggest that the company won't be relisted..."

SYME can't be RElisted because it hasn't been DElisted.

It's been 'suspended' and it has asked for the ' suspension' to be LIFTED.

Your confusion is understandable, less so SYME's, because they got it wrong too :

The 4 Feb RNS is actually titled 'Update on RElisting', and starts

.."Update on Restoration of Listing and re-commencement of Trading
......before getting it right :

Immediately following publication, SYME made a formal request to the FCA for the "lifting of the temporary suspension of its Listing and the resumption of dealings" in the Company's Ordinary shares. The FCA is currently performing the regulatory steps required for the "restoration of the Listing and re-commencement of dealings."

SYME expects to make a further announcement regarding the "lifting of the temporary suspension and resumption of dealings" in the Company's shares as soon as possible....

HTH

.."There will be no RNS before resumption of trading..."

If you just google 'fca resumption of trading' , you'll see that you're wrong.
People then know what value to place on anything you say subsequently.

HTH

And another afterthought :

Apparently, the relevance of having passed the 10m customers on the database threshold for the 23 and me tie-up with Virgin is that this number delivers 10,000 reference points for diseases down to a 0.1% incidence in the population ie meets the requirement for statistical validity purposes.
(Their point, not mine - I'm not a numbers person)

HTH

Me again,

A follow-on Q :

Could ORPH include - in its future data-harvesting - info that wasn't necessarily of interest to the study-in-hand, but which it knew (because it had been asked ) might be of commercial value to others ?
What are the ethical/legal guidelines ?
Could the 'customer release' be framed sufficiently generously to accommodate ?

A question for CF, perhaps.

ATB

Hi Trader_3,

I've just received a mailshot from 23 and Me announcing its tie-up with Virgin in a J/V with enterprise value of $3.5 billion where they intend to monetise the 10.7million customer genetic database that they've built up over the years using the 'ancestry + learn fun and maybe useful facts' hook....

Invite to the 50 min presentation is here https://mediacenter.23andme.com/company/investors/?utm_medium=email&utm_source=23andme&utm_campaign=2_1_22_announcement_1_cx_gb&utm_content=j_61289172_p_f94ee9440f5d689e&utm_kxconfid=ux4f100ru
I think you can sign in as a (potential) private investor.

Takeaways with maybe read-across to ORPH :

- they have a 50/50 cost/profit share arrangement (or simple royalty) with GSK covering at present about 30 studies using their genetic database to refine research into oncology, immunology, cardiology, metabolic and neurology;
- targets are to reduce avge time to get to clinical trial from 7 years to 4; reduce failure rate from 90% to 80% (!); and thereby bring down portfolio 'successful new product cost ' (including failures) from its current AVERAGE $ 2.3 billion.....
- v interested in wearables applications (esp. given potential to update regularly from their 'warm' existing customer base), but of course they don't have any clinical data.....

Upsum : no direct read-across, but interesting illustration of how fashionable the area is....and the $$$$ numbers involved.

HTH

Hi PeterS23,

SYME is currently suspended whilst the FCA reviews its recently-submitted accounts.
I've read Winnifroth's 'teaser' headlines but am too tight to pay for the sub : I had some dealings with him around iGas/IQE/Quindell and Globo a few years back....but he gets a lot of calls wrong, too.
Rather than clutter the board here, pls go over to ZIOC and dig out my posts from 24 and 25 Jan where I shared my thoughts with someone else.
Upsum : I'm not invested. It's n exciting concept.I think it's Harvard Business School case study material, just not sure in which category.

HTH Let me know what you think !

Apols to others for O/T, but it IS the weekend ;->
ATB

A lifetime ago 90s ? 00's? I was in Mercator Gold (precious metal in a 1st world country) who had good prospects in Oz.

They were ramping up production and did the 'prudent' thing - at their banker's request - of selling future production forward.
So far, so good.
Price of gold shot up for some reason. '" Oh, well. Pity. But at least we're locked in at a fair price for our production."

The production growth was based on expansion of the mine, which unfortunately ran closer to the local (only) highway , in Western Australia, I think it was.....
Cue 'cease and desist' order. Kiss existing AND future production good-bye...

And what about all those future sale contracts ? Mercator bled out having to buy in at higher-price spot to meet its obligations....

It morphed into a metals (cables etc) business in Thailand, a solar power project in the States and various other ventures elsewhere. I think it's still around as ECR.....

Good luck with Norseman : may it turn into the next Poseidon !
ATB

Some info re Champion here https://www.championiron.com/.....now up and running......https://www.championiron.com/wp-content/uploads/2021/01/fq3-2021-investor-call-presentation-january-28-2020-vfinal.pdf

ATB