RE: Napalm0126 Jul 2021 18:52
"1. You all dont care if the whole concept can’t actually go anywhere at all because it’s ruled out as being not permitted in the accounting standards that govern all companies. If confirmed Syme has no business
2. You all don’t care if the IT system on which the whole company is based and which no one ever talk about is actually not anywhere near ready or is not fit for purpose. Are there really no IT professionals invested who are questioning this properly.
3. You all dont care who valued the company you have just paid £4m for even if it was a company with no background in doing this specialist valuation work….or that the true profitability of the company you have bought has never been shown in any audited public accounts
4. You don’t care if the people who are running the company have changed the level of their investment up or down"
1. The company has already stated in both RNS and multiple QnA interviews that the True sale concept is bullet proof and has been signed off by auditors and accountants of the client companies including two of the big four.
2. No idea why a couple of people have suggested the platform isn't ready, it seems to be just guess work.
But I don't remember barclays explaining their systems of banking either online or otherwise , nor do I remember amazon having to explain in depth how their stock monitoring systems work.
Let's face it its not a particularly complex platform.
If the company says they have a solid platform then that's good enough for me until someone can prove otherwise.
3. I don't know enough about acquisitions to know if it's common to put every detail of the valuation in.
But even if it is I seem to remember ex trader valuing it at the same as this unknown company did and I know none of you trolls pulled him up on it. Infact you were happy to bleat on about it because it suited the "massive dilution incoming" line of attack .
It may well be over valued, that tends to be what happens when you buy something on the never never , the account due some regarding TF will enlighten us no doubt.
Ultimately though we have bought something that helps us move forward and seemingly suits both parties.
If the alternative was not moving forward then its an easy choice is it not?
4. As of May there were no changes in major holding.
Before you start down the DW line again, he sold shares, he is entitled to and given the difference in timescales between last year and now then perhaps that's why he sold shares. He Is after all a business man and if he felt other opportunities were open to him then that's his perogative. But nobody will really know why he sold other than him.
So there you go.
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