This is a company with no forward plan, no idea what the future holds, no clear balance sheet, new directors with dubious previous positions and all I see is posts like this trying to generate non interest so the poster can get his exit price and move on.
This post is everything wrong with retail investing.
Despicable
Layman Trading, you should be ashamed of yourself. You are trying to scam people so you can get out of an investment you no longer want to be in, and its so transparently desperate its sickening.
That's a huge bag of worms Xerxes
Conflict of interest, SOX control, I'm guessing both internal and external auditors in for a bit of investigation too, especially if recent audit was full scope.
I hope things get better for you, on a very small positive, at least this experience will enhance you professionally because very few will go through what you have. I'm sure after working for the sort of company you have you will be in sufficient demand as SOX skills in UK are very sought after.
Wow, apologies Xerxes, that sound like an absolute nightmare.
Whilst i fully believe you, I cannot see how a FC can do that (btw the people not aware of USA job titles, FC is normally FD level in uk).
Surely Planning and buying departments needed to be involved in that decision, I don't understand how a FC can be the one to use up all the RM?
Also, if listed, does SOX not provide controls to owner who should have seen that coming?
If an FC will do that kind of, well, pathetic work, they surely won't expense inventory though, because that would be a horrendous metric signal.
@rebel
JL are a terrible decision making business, and unfortunately a victim of slowly acting to the change in habits of shoppers, people go to stores to view the item they want, then stand there and google/amazon search where online they can get it cheaper. Now for JL to compete, they need to wipe out the expenses of the B&M retail stores, and realign to online and distribution. Footfall sales are down, and expenses of running these B&M outlets are up, inventory monetarisation wont help JL, closing stores and reducing expenses will. I think over the next 24 months, that JL will be solely online.
One business that has got it right is Primark, huge demand, but no online presence. You have to go if you want something from there, what seems like an archaic business model is providing unreal results.
Now what I don't agree with is inventory build, technology is moving so quick that companies will not be happy to build inventory, spend money on labour/capital needed to do that, and then an expenses of holding the inventory, because worst case, that product becomes obsolete from advances or competition. Manufacturers will only ever build a few months of inventory, this won't change.
An example of this is Jaguar land Rover. They were earmarked to build new EV vehicles, for resale approx 2023 (i believe they were called MLA Mid/Low), hundreds of millions have been spent on these projects, with suppliers installing capital, probably part customer funded capital, Prototypes would have been produced, engineers employed and so on. A few days ago, JLR decided to ditch these vehicles, and probably face claims of half a billion in damages. This is the reason companies don't produce stock levels above and beyond, because in the flick of a switch, everything can change.
However, start ups will always come around, they will always need funding, they will also be a little naïve to decisions the big boys make, this is where SYME bread and butter needs to be.
@DG73
Yes I think we are.
These boards are 95% cheerleading/booing - 5% informative. Both the derampers/rampers are equally destructive, to peoples wealth and to good debate too.
A good balanced portfolio, or the ability to invest some cash and write it off immediately with the hope of some return does help with the more risky shots, but if you get one correct, you certainly get the benefits. I remember Dragon oil being a risky play.
I have my own few punts out there, one being BOU which hasn't worked out well at all!
Good luck, i am following SYME daily for updates, I truly hope it goes well for people (i'd have a smile that TW is incorrect again)
@ DG - My point is, you are not going to get CEOs of companies who hold inventory, with free cash flow, happy to expenses a cost out when there isn't an immediate danger to the forecast health of the company. And you certainly won't get the buy in of a CFO. Now in most lean companies, the CFO is the number two and will be on disaster planning as head if anything should happen to CEO/Owner, the weight of finance does hold value.
@Rebel - agree, it could have helped out some of those companies, but the companies that have gone, were going anyway, Covid or not, for instance Debenhams, look at their stat 2018 and 2019 accounts.
My whole point here was, i agreed with a poster highlighting some goods points. I'm on the sideline, interested from a investing point of view (i would like to see some signed contracts/orders), i will happily buy in on good news, but my target for this wouldn't be in the double digits pence. Before anyone screams deramper, your still taking multiple fold increase on current SP. I'm also interested professionally and to see how it works in the real world.
We live in an era where people have found their financial footings rocked to the core. We should use more effort to educate each other and share experience and knowledge whilst new investors step into trading/investing. The stock market is a horrendous beast that can eat peoples entire savings in days. My point is, instead of listening to wild assumptions (such as this is going to £1 tomorrow, or this is going bust and everyone is going to jail next monday), people need to understand how a market works, how external fundamentals affect a SP, how trader use a chart, how to read a basic balance sheet. You need to arm yourself to the teeth to have a good income from the stock market.
@Rebel - It was a nickname from a sport I competed in, giving to me by an opponent many years ago and just stuck.
@ DG - Yes correct, i am fully aware how it works. But for large companies, inventory valuations doesn't matter, stock turns, maybe. Inventory amounts assist the balance sheet and a big well run company doesn't rely on hand to mouth inventory movement. Most do not build inventory to levels above and beyond what is needed to service near term orders, they work hand in hand with suppliers to ensure inventory is right on time.
For wine makers, and other small companies, yes, they may need SYME (but other finance providers also provide this service, and their profits from activities such as this, whilst are good, do not substantiate any of the £1 valuations/even 25p I see on this board). That was my point, SYME is needed by companies that need cash flow from inventory in quick turnarounds, big companies do not fall into this category, ever. And having worked on this kind of management level decision making, i would never recommend any company i worked for go down that route. Also, you need to look into the financial principles of long term accounting, which ensure payments on orders at staged levels before product is handed to suppliers.
No, I don't
Fully read RNS, fully read prospectuses, fully read website. I've been an industry chartered accountant and auditor with some of the worlds leading firms for 20 years, from firms on the whole spectrum of financial markets including FTSE 100 and NYSE.
You tell me how this helps any company with strong working capital and strong balance sheet, with good inventory management?
I'm not saying this isn't a good investment, if it works, it will be good, just not the sort of market cap £s per share we see from over exaggerating posters.
Great Post Glynbristol. I'm guessing your either operational management or an accountant.
You are asking questions every investor in SYME should be asking, investing isn't about blind punting, its about reading financial data, understanding fundamentals, and then putting yourself in the seat of the potential customer and understanding the demand and potential market cap.
I'm sitting on the sidelines of SYME, carefully watching, one for investment decision, and second, out of general industry interest.
I like the idea they have, it will not be anywhere near the market cap bounded around on these chat boards, but would be profitable from this price range. I do not see any strong companies needing/wanting the service on offer, its just not needed and no balance sheet requirement.
But for struggling/new companies, that's a different prospect altogether. As long as bad debt provisioning is sufficient/inventory valuations are correct and impaired correctly.
The FCA case is concerning, but in this covid era, things can take a little longer than before. I'm a little concerned by AZ, may have a good idea, but ideas and good management don't always go hand in hand.
Waiting on news, hopefully its good for all holders here and i'll jump in at the expenses of some potential profit.
Rob95, previous company directors feathered their own nests, business no longer viable
ICON now a sort of shell/but not a confirmed shell yet. Still a lot of rugs to be upturned yet
New directors coming in have a very dubious past, have not really given any previous company real value, would not be surprised to see this move more into an energy based company. They specialising in raising funds/placings, etc
BUT
They are renowned for pumping up prices for placing purposes, so if you have a big risk/reward appetite, that isn't based on dividends/Long term holding, there is a potential that if you get in early, you may make a tidy sum in return. But this will be based completely on hot air.
I would recommend if this does increase, making sure you top slice occasionally.
I'm on the sidelines, but watching closely as I think there will be opportunities to make money.
Not so sure on games, looks like quite a healthy chart at moment
Its been in uptrend for a long spell, looks to be ranging/consolidating at moment. To get higher, needs to break 34.88, but also needs to hold 33.57 or 32.76.
The RBL will obviously smash the current ceiling, although it looks like sentiment can do that alone with enough pressure.
With oil price, goods news, continuation of uptrend, this could be a very good Q1/2 for TLW.
Anyone else watching the charts on TLW?
RSI showing overbought, but stoch looking level.
I think this is about to range before continuing uptrend, but thats just a gut feeling.
Looked at Bollingers between SD1 and SD2 and just dropped out of the buy zone.
35 looks a tough break, but will smash it if it takes a breather and trend continues.
Oh the old gang at work already, good to see i'm getting posts filtered already, its like the good old days when they were in Sound Energy!
Your new director, linked to James Parson through AST, like Sarah Dees, linked to James Parsons through numerous roles.
Know the people you are investing in, dig deep and find the companies they have worked for before, even if they have tried to erase the past
SOU/CORO/ECHO/AST/SAFFRON
Another link to James Parsons through AST
He's coming! Sarah, Stephen, maybe a notification now about Marco, the Golden ticket (gravy train) gang are getting a new home.
I do not hold here, was looking when three previous directors left. Now I implore anyone to research these new appointments, talk to previous/current holders of SOU/ECHO/CORO/AST?/SAFFRON.
Do not invest blinkered, ensure who is running your ships hasn't crash and burned and picked the bones of all the passengers before!
No, she's the SOU one if the Linkedin profile posted is correct, i've met her twice and won't forget her face (i find it a good way to keep my equity), sure she had an impact in ECHO or CORO too. Hopefully she has broke free from the previous con men she worked with, will be interesting to see who else comes on board.
Sarah Dees - don't talk to any SOU holders about her, or any other company which her and James Parsons have teamed up together to completely fleece.
And i guarantee, this message will soon be filtered, she is really good at monitoring investment chat boards.
Don't you wish you could have a career where you actually take the shirts off peoples back, and then get away scott free, only to be allowed to go and do it multiple times again.
I do not hold here, was interested and looking yesterday and came to see if any RNS. Good luck guys, be very careful with this new CEO and ensure you keep some powder dry. If Parsons turns up here too, run, as fast as you can. Sefton has nothing on these guys.
No John. The birth of sarbanes oxley does not sound familiar to aim listed Sou. You are comparing two entirely different circumstances and accounting treatments are not in question with Sou, more the PR.
I'm finding it very very hard to believe you have anything to do with banking, even high Street customer service posting rubbish like this.
I was back in the gerry, bricky days
Buy buy buy.
I flirted with sou shares for a long time from the 2.5 days and still have a substantial holding, even though its a free ride, it hurts to see what has happened here. I'm trying to unravel the noise now but being very unsuccessful, I feel the deal isn't for PIs but I have been wrong in the past.
I am fully against threats and abuse. But this thread from Sou feels bad taste to me. People have lost small fortunes in what does appear to be an orchestrated climb down, and need somewhere to vent.
Let's hope the tide turns soon and people don't feel the need to vent.
Former iii poster, never wanted to log on here, until this post.
After watching the sou journey, trading up and down, still holding some skin in the game, remembering posters like crude and m33 from iii, viewing, listening, participating in fsc, conference calls etc, I just have one point.
There is no way Sou have a compliance department.