RE: 72 BILLION SHARE IN ISSUE24 Sep 2024 12:58
"I was not invested in SYME in the early days but it was always going to be difficult to access finance from the banking community. Notoriously conservative , Supply were effectively pitching an idea, a "new asset class" which could on first glance endanger existing banking processes and business. Asking a Turkey to finance Christmas dinner !"
I'm not sure that's correct.
Symes client base are people that can't get finance via traditional methods because of the way a bank loan would be assessed.
As in they don't have the background information to qualify.
In the same sense many self employed are turned down for a mortgage by some banks, so go to a broker and are successful.
Symes part in making it possible for their clients is to go into a deeper due diligence , using sales records kpis ect.
Least that's the way it was sold.
Obviously funding must be a sticking point or we'd of done the things announced, however we were explicitly told by AZ from the beginning that there were multiple funders lining up..
So it's a question of how much of what we were told to get us investing was actually true.
Personally I'm leaning toward very little.
But due to a massive lack of explanation we can only guess