Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
I have been trying to see through the fug to understand the logic & reasoning behind decisions made and paths taken. Most to be honest have left me baffled, feeling I have a thousand piece jigsaw with only fifty pieces of it. Staring at the pieces straining( nearly to the point of) to see the picture.
I see and understand the business model and how it has great potential to help SME's release cash tied up in their inventory. We had Stormharbour and clients all lined up for £300 million tranche ready to roll end of 2020, the Quadrivio 8bn over 5 years with CB. Epic, Lenovo etc... Where does all this still stand?
It always seems to come back to the 'Model' fails in meeting implementation. Is the problem acceptance of the 'Model' as a standard that fits for all . Meaning is it a provenance issue (security and guarantees of the inventory ownership covering all jurisdictions) that cannot be agreed on? There is obviously at least one problem. We need to know what they are and the actions being taken to find solutions to resolve them.
Maybe its me and I am looking at it wrong? Maybe some of you have more pieces and can see the picture better.
If everything is going to plan and all is fine (It's just delays) then why the delays, what is the hold up?
Answers are required either way. The last minute mediocre RNS releases are also not helpful.
Get your finger out AZ/ SYME and talk to your investors.
Just to add this in case anyone forgot https://globallegalchronicle.com/ceo-alessandro-zambonis-e91-million-repurchase-of-100-interest-in-the-avantgarde-group-s-p-a/
The current market SP for the last two months and the loaned shares of Wed, 29th Jul 2020 12:18
RNS Number : 4985U
- 1,615,253,000 SYME shares transferred to High West Capital Partners LLC 0.075 pence
- 778,571,429 SYME shares transferred to Stock Loan Solutions LLC 0,09 pence
- 3,500,000,000 SYME shares transferred to Union Pacific Capital Ltd 0.07617 pence
Upon repayment, all 5,893,824,429 SYME shares will be returned to the borrower. (later RNS added the cash option*)
Tue, 29th Dec 2020 07:25
RNS Number : 9730J*
(*) The percentage stated does not include the 17,99% of SYME shares related to the collateral transferred in accordance with the three stock-lending transactions announced by 1AF2 S.r.l. on 29 July 2020. At the end of this stock-lending transaction or on the repayment date (in July 2022), the collateral will be returned to the AvantGarde Group in shares or cash (this option has been negotiated in order to avoid any take over risk), at the choice of the borrower.
(**) The percentage stated included the 17,99% of SYME shares related to the collateral transferred in accordance with the three stock-lending transactions announced - on 29 July 2020 - by the AvantGarde Group' shareholder 1AF2 S.r.l..
Worked out conveniently for some with options.
Wed, 27th Apr 2022 07:01
RNS Number : 5031J
In March 2022, the Company appointed an independent adviser to prepare it for its next phase of growth, which will focus upon the delivery of long-term business objectives and its governance system requirements. Likewise, the Capital Enhancement Plan forms part of the Group's new 2022 Strategic Plan (the "2022 Strategic Plan") the Board will present to shareholders.
Following consultation with its auditors, the Company now confirms that publication of the Accounts will be slightly deferred to allow more time to complete the audit process. It now expects to publish these *Accounts no later than 31 May 2022* utilising the FCA' two-month temporary relief from reporting deadlines due to the impact of the Covid-19 pandemic. Such relief was updated by the FCA on 23 March 2022.
As a LTH, does SYME along with Tradeflow appear to be able to reach a financially profitable goal and be a success and produce a good return? (From the outside @ the moment as a PI it is hard to judge one way or the other, not helped by everything being clear as mud with SPV use and overly convoluted, vague, this in return feeds even more negativity from the naysayers).
Anyone wouldn't be blamed at some point to think 'Is this all deliberate?'
Patience of the LTH's has been and is truly being tested with SYME as we all STILL await (kept in the dark) on AZ for the allusive green light of the (rare as rocking horse dung) first IM.
Answers are in need now with clarity, not vague 'could be's' or 'maybe's' regarding past RNS releases covering all parties mentioned within them for investors to learn WHO IS and WHO ISN'T still apart of , and WHO remains onboard this 'UNICORNS' journey?
What is the CLEAR full (Business plan) picture of the companies present state with existing partners and their commitments? Where do we stand as a functioning business and what is being achieved now?
Show us some concrete progress towards becoming a UNICORN.
No more 'soon to this' and 'on the verge of signing/funding/partnering' on the never going to happen train that produces no results and no substance!
I would like to see a modular map of progress achieved so far and what remains to be completed to reach SYME's business objectives.
Rant over, follow the links below for info involving SYME.
The pilot in Italy- latest requirements relates to;
https://www.osborneclarke.com/wp-content/uploads/2020/03/the-draft-regulation-of-the-italian-ministry-of-economy-and-finance-mef-on-the-fintech-sandbox.-1.pdf
Other links-
https://www.gtreview.com/news/fintech/exporters-have-12-18-months-to-prepare-as-g7-paves-way-for-trade-digitisation/
A lot going on out there ; UNCITRAL Model Law on Electronic Transferable Records, Global Financial Innovation Network (GFIN), Italian Ministry of Economy and Finance (MEF)
https://uncitral.un.org/en/texts/ecommerce/modellaw/electronic_transferable_records
https://www.thegfin.com/
https://tradeflow.capital/service-partners/
https://www.bolero.net/category/news/
https://ffnews.com/newsarticle/monetago-provides-first-ever-global-solution-to-duplicate-financing-fraud-in-trade-finance/
Lth, dyor yah lazy boogers, AZ we've had your back, prove you have ours" LTH's will be rewarded!"
Come on SYME & Tradeflow for the love of IM! And LTH PI's sanity.
I tend to avoid this board as it has turned into a total farce of point scoring nonsense that helps nobody.
For those of us invested or even interested in this share;
I invested back when AZ had a transfer of shares around 0.67 price.(Sept2020)
The history is of continued frustration of pi's including myself here, as we were led to think, (Back then)with the likes of the sharia compliance and the 5 year 8bn bank funding plan, ( Hello, what's happened with that?) that we were closer to take off than we actually ever were.
Reality check – this appears to have stalled at the stage of a startup company which entered the market @ the beginning of the pandemic launching its new disruptive business model, with the goalposts annoyingly moving at every key moment of what we were all led to believe would be the time of take off.
Having read, trying to decipher and keep up over more than a year and half, most would know that (keeping with the flying analogy) traffic control @ the runway had yet to be confirmed safe and ready for take off by all accounts. (Excuse the pun as we know they then got moved)
Of which SYME/AZ had zero control of the atmospheric (pandemic) conditions for that matter, ( We all get that)
This brought into play;
MEF, UNCITRAL MLETR, CB, FB, Funder demands being altered, a big thanks to Greensil.
(Making a great April fool of all us pi's)
You could argue AZ should have known better. I would argue he probably he did to a large degree being the expert he is in his field. But, what could he do?( Benefit of the doubt,caveat here) when you venture into uncharted territory things beyond your control or previous experience can and will come to the fore, delays coming with new rules/regulation/legislation to be written and implemented and so forth.
So, from my view all AZ could really do is comply, whilst continuing to work towards adjusting/adapting the current business model until all boxes are ticked. ( Then came acquisition of Tradeflow to muddy the waters)
Elephant in room time is the funding, What's gives AZ, multiple funding streams/routes/layers call them whatever you like - where are they?
Why do you continually help feed the negativity? Where is that 'Monster RNS'?
What is the big hold up? What is the great thing missing that remains to be ticked? (We are not being kept appropriately informed, which is not only damned annoying and frustrating all it does is fuel the naysayers).
Is this the hold up?
Does anybody know if SYME or TFC models have been verified or even accomplished/ completed to meet UNCITRAL Model Law on Electronic Transferable Records, Global Financial Innovation Network (GFIN), Italian Ministry of Economy and Finance (MEF).
I have read about the electronic bills of lading.
I would say they are too busy actually working to build a reputable business, not pandering to childish tantrums and antics and unfounded attacks on a BB.
Ps. No one give a flying **** what detractors say here, we have heard it all, over and over for nearly two years now, its boring, give it rest. Go get a life.
https://www.gtreview.com/news/fintech/dp-world-targets-smes-with-launch-of-trade-finance-platform/?utm_source=Linkedin&utm_medium=social+organic&utm_campaign=2021_launch&utm_content=AO_PROSPECT&utm_term=NA|NA
For those that may have not read it
CLN is the only straw you have to clutch at, as the HUGE positive partnership with DP World is a bitter blow to you bunch of low leeching charlatans. Quick better go call a house meeting, Sheriff TW is more akin to Commissioner Charles Dreyfus who needs his crayons and warm padded cell.
Whilst some form of progress update is appreciated, most of that is repeating what is already known- Personally I am only interested in what has been signed and sealed and guaranteed, such as funding and first IM coming in please.
Do not need more NDA malarky with we are in talks with xyz if they have no skin invested in SYME or TF etc type rhetoric, as it feels we are being held over a barrel since march 2021 to appease others @ PI's expense. Only need positive concrete news not any more fluff.
The SP may not be the company but its certainly reflective on PI's balance sheets and also feeds the constant negative attacks from detractors. Its getting harder to support a share when the other side keep getting all the ammo.
Rant over.
Syme is included and part of the site > https://www.trademeplus.com/inventory-monetization-supplyme
https://www.linkedin.com/posts/tgjames_tradefinance-logisticsfinance-inventoryfinance-activity-6859383824716054528-eBiD/
https://www.gtreview.com/news/fintech/dp-world-targets-smes-with-launch-of-trade-finance-platform/?utm_source=Linkedin&utm_medium=social+organic&utm_campaign=2021_launch&utm_content=AO_PROSPECT&utm_term=NA|NA
This paragraph 'It also gives financing options for logistics processes, receivables and payables financing, and invoice discounting, and users can boost working capital by using inventory as collateral. '
Wiggy81, here's the topics on the agenda through today.
https://www.gtreview.com/wp-content/uploads/2021/03/GTR-UK-2021-London_Guide_Oct19.pdf
150+ companies and 250+ attendees
In addition to an extensive programme of expert speakers, the event will include a full exhibition and that much missed opportunity for participants to 'network and connect with industry leaders, peers and potential clients'.
Global investment summit live from 9am
https://www.youtube.com/watch?v=13jFJItT84M&ab_channel=DepartmentforInternationalTrade
London Global Trade Review
https://www.gtreview.com/events/europe/gtr-uk-2021-london/