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Morning Tex, I'm not going to discuss the RTO seeing as it has been discussed to death and I bet the majority of holders and those who occupy this board were not invested at the time. Robrin's comments just came across as someone who spent 30 seconds looking at this BB, saw the number of shares and came to a conclusion without any sort of in depth research. That's assuming he is not an associate of some other accounts who only posted to stir things up.
Robrin if your comment around the company screwing over shareholders is purely based upon the number of shares in issue, that is an error. Syme RTO with 32 billion shares, so therefore shareholders have only been diluted around 12.5% since the RTO. For a new start up and main companies on AIM, this is nothing. The lack of revenue generating news is where the issue lies.
Initial draw down of £5 million, with a further £2 million available within 60 days subject to certain conditions precedent;
· 12 month term, with an interest rate of 10%; and
· Warrants will be issued representing 20% of both tranches. The warrants will have a term of 3 years from issue and an exercise price of 130% of the lowest closing VWAP over the ten trading days immediately preceding the issue of the warrants.
They were only additional terms attached to the extra 2 million which were the warrants issued to mercator and seeing as each CLN conversion we were notified of the warrants being issued it was abundantly clear the additional £2 million was being taken.
Then ex you are one of the few who may way be telling the truth. Anything i post is the truth or at least what i believe is the truth. The problem is too many people don't, both here and twitter, which can make any sort of reasoned discussion next to impossible. Its just the bature of these bbs.
Oldapache - hardly pathetic making a point that kf you want to know an answer to a question ask SYME not a bb full of anonymous accounts.
To what purpose ex? I could write anything i want and the only way you could validate it would be if you asked AZ yourself. So you might as well skip the part of asking what i was told and move right on to asking syme directly so you know yourself. Anyone who actually cared about the reason behind this would have done so already.
You could argue that it is expanding at the cost of more debt which has SO FAR not generated enough revenue to make a profit. Hence the high risk nature of a start up, will we eventually start generating meaningful revenue to actually make a profit or will this not happen.
Up to you whether the risk is worth the reward. It is for me and the more these accounts tell me its a dud the more I will dig in, not necessarily invest more. To many accounts whose stories don't add up or appear out of no where to only do one thing and attack syme, coupled with the fake websites and then dodgy ramping article (purposely done to put others off imo) just shows to me there are individuals who are determined to undermine SYME and are certainly not doing it our of the goodness of their own heart. No AZ hasn't done us any favours, made some rather poor choices and clearly we were not "ready to fly" last year like he said. Was it intentional? Personally I think not and each time he made these comments he firmly believed they were true, but lots of things changed and SYME had to adapt causing the delays and issues. A harsh lesson for him and the comms reflects the change in this area. I do hope SYME starts to deliver for us PI's but will be a giant middle finger to the naysayers.
Good post Knowles. I didn't expect the contract to be signed otherwise we would have heard about it sooner so today's news and price drop was expected. The issue around the 10% of the FB bank is an interesting one and could be viewed in either light. SYME no longer have the funds in order to complete the purchase or as you have said that the FB no longer want to sell. The FB not wanting to sell I would take as a positive (if that is indeed what has happened) as it means the bank wants to keep more of the fees generate or part of the initial agreement was for SYME to buy to provide some safety for the bank which is no longer required as they are happier with the risk. That being said its hard to judge without knowing the initial rationale for SYME buying 10% of the bank to now not doing so. Clarification around this would be helpful.