Member Info for Peakhope

DP World #digitalfreight TradeFlow Capital Management

The point is some will refuse to accept
“ true sale “ status whatever is put in front of them - ive had confirmation from syme that the IFRS for SMEs is how we are achieving this also some geographies do not accept IFRS so we already have “ true sale” status in large parts of the world - it’s funny how these supposedly in the know and without bias did not point out there are a different set of standards for SMEs - must have conveniently slipped their minds - and now they are experts in the IFRS standards for SMEs :)

Directly from IFRS website

The need for implementation guidance
4 The International Accounting Standards Board (Board) issued the IFRS for SMEs Standard in July 2009. It was a new Standard expected to be applied throughout the world by small and medium-sized entities (SMEs) that do not have public accountability. Many of those entities had not been applying IFRS Standards.
5 The IFRS for SMEs Standard is based on the principles in IFRS Standards, but is a separate Standard with simplified requirements. The simplifications reflect the needs of users of SMEs’ financial statements and SMEs’ technical and financial abilities to produce those financial statements. Such simplifications include:
(a) omitting topics in IFRS Standards that are regarded as not relevant for most SMEs;
(b) allowing SMEs to use the easier option where IFRS Standards allow accounting policy choices;
(c) simplifying many of the principles in IFRS Standards for recognising and measuring assets, liabilities, income and expenses;
(d) requiring substantially fewer disclosures; and
(e) simplifying wording.
6 The Trustees and the Board established the SMEIG to support adoption and implementation of the IFRS for SMEs Standard.
7 In June 2020 the Trustees revised the Terms of Reference and Operating Procedures to recognise the role of the SMEIG in also supporting application of the IFRS for SMEs Standard.

There are a different set of IFRS standards for SMEs - the audience syme are targeting
Source - IFRS foundation
I believe we have “ true sale “ status:)

The IFRS Foundation has appointed four new members to the SME Implementation Group (SMEIG) for a three-year term starting 1 July 2022.

Established by the IFRS Foundation Trustees in 2010, the SMEIG is a consultative body to the International Accounting Standard Board and works to support the international adoption, implementation and application of the IFRS for SMEs® Accounting Standard. Its responsibilities include considering the need to update the Standard and considering application questions that could require educational materials. SMEIG members participate in a personal capacity.

8. To what extent are required disclosures reduced by the IFRS for SMEs?

There is roughly a 90% reduction in disclosures in comparison with full IFRSs.

9. Have all recent new and amended IFRSs been incorporated into the IFRS for SMEs?

No. New IFRS standards and amendments such as IFRS 9 Financial Instruments, IFRS 15 Revenue from Contracts with Customers, IFRS 16 Leases and IFRS 17 Insurance Contracts have not been incorporated into the IFRS for SMEs.

The Financial Reporting Faculty answers some frequently asked questions on the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs), covering which entities are eligible to use the IFRS for SMEs, the benefits of using the IFRS for SMEs and some of the key differences to full IFRSs.

Gaap ffs and not gasp although it’s that hot tonight you may also want to gasp :)

Thing is with true sale is it varies from region to region so we are guaranteed true sale in some regions already - also IFRS although widely used it’s not accepted everywhere - US will not adopt IFRS and use gasp they did try to integrate the two and found them incompatible - so imo the jury is out only in some regions but not all
1st IM is imminent and is a real transaction and not a PR exercise generating real revenue using a groundbreaking method of funding :)

Bye then :)

Watch the AGM - Venus are partners , funding arrangers and will be funding directly - it’s all in the AGM - I specifically asked about Venus and it’s powerful echo system of investors :) let’s see who funds the 2nd IMs :-) oops forgot to say and let’s see how quickly they come :) plus WL this summer to name but a few :-)

Just to add shareholders voted 95% in favour of all resolutions and it was a unanimous decision :)

As opposed to the unemployed afternoon shift putting a negative spin on old news which genuine investors voted for - your only repeating what you said before the AGM that you did not attend :)
Not to worry things will all change soon enough :)

Whilst some think next IM is for coffee beans :) the rest of us know todays RNS is just confirmation of what we all voted for remember :) get the mundane business out of the way before announcing successful completion of 1st IM and OO followed by further tranches of IM from UK , Italy and Mena regions - only 10 trading days left this month and a lot to pack in :)

Best wishes all LTH

Proof of concept :)

The one thing I’m looking forward too the most is poc which should in theory lead to a silencing of the none believers - it’s getting quieter by the day as we draw closer to 1st IM poc and OO offer which imo may come together or at least will overlap and the predicted sp of OO value will be less likely as poc will be the catalyst for a rerate - don’t think we will see the boom some have predicted either more a sustainable rise that will continue as more IMs are announced - at least we will be out of the starting blocks :)

If that’s what you think will happen put it out there - my bet is there’s no OO yet because they might want to release both bits of news in one RNS it does not matter if the IM confirmation comes through at the same time as OO It could possibly work in symes favour uptake of OO and with poc and revenue generated less likely a retrace back to what some have predicted :)

Napalm - I respect your honesty :) and there’s no laws against trading - that’s how you earn your living - it does mean you probably look at syme from a trading point of view and not from a LTH perspective - as previously stated syme was my 1st ever investment and every day is a learning day - as you rightly point o dyor read the RNSs news articles points of view on here and TG
I have and continue to do all the aforementioned on balance I still believe I have picked a winner and no one knows the outcome - I’ve said many of times it’s a 3 year hold from 1st IM for me - a lot can happen in 3 yrs let’s See where it takes me - I will enjoy the learning warts and all :)

To be fair Rosie has not been disrespectful as she used to be and I welcome the new Rosie if she can maintain it and remain civil and respectful of others views and opinions - likewise without contributions from Napalm and the Analyzer there would be no discussion - it’s not good to be stuck in an echo chamber and I don’t mind hearing the negatives so long as they are balanced and the posters have no agenda - that said I would still welcome their posts if they were honest about having an agenda or a reason to spend so much time on a penny share they have no investment in :)

There are indeed Hallowed - good point :)