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I’m incline to agree and weather you believe Albert or not he did state one of the issues was clients/funders “thought it was too good to be true “ however if you look at how the model had to be changed from using spv’s to stocking companies under the advice from one of the big 4 to gain true sale status I believe they have , further more if you compare symes offering to reverse factoring or similar products offering off balance sheet financing , symes model is not only cheaper but also 100% value of the inventory where others offer considerably reduced value for the inventory ,

As stated on many occasions it’s not totally unique as falcon group have been doing it for years the uniqueness of symes model is its the 1st to offer it to SMEs - a multi trillion $ untapped market than needs to be filled - its been tough for sure no one can deny that but still 100% positive AZ and team will deliver 🤞🙏

Nice one Stevo 👏🏼 think most of us believed it was

“ true sale “ only those who wish to cast doubt will never accept it , thanks for sharing 👍 time for the new asset class to get up and running 😀

Stuff Nobby - Stuart Nelson is retiring through ill health , really nice guy and will be missed , below are his words , well done Stuart 👏🏼👏🏼

“ it is with regret that I have to announce my retirement from Supply@ME due to ill health. I will be around for the next few weeks and will work with the Board over that time to ensure the smooth transition of my role and an appropriate departure date.

I would like to place on record the privilege it has been to work with the management team – Alice Buxton, Amy Benning and Mark Kavanagh as well as Alessandro Zamboni - and the wider SYME team over these past four years. It is only frustrating not to be able to see it through.

I remain a loyal shareholder and will continue to support the Company going forward.

Thank you all.”

Also before the introduction of stock co’s 😉

Contact us directly via:

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Contact us - Integrated Reporting - IFRS Foundation

If you are accepting this law you have to also accept the need for it and in doing so you must accept there are cases where the goods being kept on someone’s premises no longer belong to them and they have been sold .

“The PNP law establishes security rights over movable assets.”

Taken from IFRS 15

Note in brackets ( which is when the customer obtains control of that good or service ) and NOT when it takes possession of - symes platform constantly monitors the inventory making use of AI , applying barcodes as and when neccesary to track and monitor ( control ) the movement of the inventory

“recognise revenue when a performance obligation is satisfied by transferring a promised good or service to a customer (which is when the customer obtains control of that good or service). A performance obligation may be satisfied at a point in time (typically for promises to transfer goods to a customer) or over time (typically for promises to transfer services to a customer). For a performance obligation satisfied over time, an entity would select an appropriate measure of progress to determine how much revenue should be recognised as the performance obligation is satisfied.”

I presume you are not aware that Falcon group already offer “ true sale “ status - The only difference is they buy the inventory and only deal with large corporates -

Symes model is the 1st of its kind dealing with SMEs and it’s the stock company that buys the inventory

Below taken from Falcon groups website - today

Outbound

Achieve true sale of goods, immediate cash inflow and improve relationship with customers. Falcon purchases from and pays the client upfront and provides extended terms to end customer.

I did say it was imo just as all other posts are opinions yours included - back when it was 1st an hot topic I did write to IFRS seeking clarification siting that if they had no legal obligation they at least have a moral obligation as people were investing money on the strength of true sale usp - I received no reply - as far as I am aware IFRS have not challenged syme on this matter - the pegno non possessorio law passed recently in Italy protects assets owned by entities not in possession of those assets from receivers should a company go bust - this is now law so it’s accepted that you can be the owner of assets that you don’t have possession of - true sale imo

True sale or not true sale - I don’t think anyone can claim 100% either way - IFRS are not the only accountancy standards used globally - IFRS have not given any indication as to true sale status either way - I do believe it differs from country to country and in Italy the true sale status is accepted - originally syme were using spv’s to navigate around true sale status but IFRS viewed this as financing - syme moved then to stocking companies to overcome the true sale status - I think it will come down to how the accounts are submitted and if there is a contract in place , an invoice and sales receipt which corresponds with the sales ledger it will be classed as a true sale it will be at this point IFRS may decide to challenge it or not - so still a bit of a grey area imo - also things do change and accountancy treatment is not exempt from change - think it’s still a case of wait and see .

I’ve got a life jacket and an inflatable dinghy - think I’ll stay till the end and jump off at the last minute 😀

There’s a difference between ramping and feeling positive imo - unless people are in a consortium investing is an individual activity and anyone can and has the right to change their mind/opinion .

Crazy - I could double my holding for £2.5k and get average below .10 - do I feel confident enough 🤔

Hell yes 👍

A positive move - hopefully we see charge settled and WL September. - come on AZ push on with business

Steve Ward - 👏🏼👏🏼👏🏼 same here but got no pop corn so got through a packet of custard creams 😀

AZ not batting an eyelid and will probably be reading posts on here and laughing - it has become both quite comical and entertaining - we’ve heard everything from AZ going to take it private , going to jail , going off on his yacht, going off into the sunset with suit cases stuffed full of pi’s money , Albert Amy Alice DW TW Mark Alexandra DB Jacob all involved in this elaborate scam/fraud which not a sole in the world has cottened onto - LSE also involved local Bobby action fraud etc all involved - Elon musk Donald trump oh and don’t forget uncle tom cobbly n all , savvy mistergreen Analyser , myself , Micky , and the whole world is involved in this elaborate scam which no one knows or is talking about - I think they might just get away with it 😉😂😂😂🤦‍♂️

In the same way Jacob won’t say anything incriminating either I believe he’s in enough poo as it is - nothing you could say on here would incriminate yourself - it’s their bad not ours/yours - some have threatened legal action for months or say “ I know something you don’t know do da do da “ much of it is pure negative speculation - a novel based on some facts but more fiction imo

What has Jacob told you ? - and can you believe a man who is already being sued multiple times - if you know anything spit it out - the practice of loaning shares out is not illegal and is probably more widespread than you think - there are always two or possibly more sides to every story - no one knows anything certainly not enough to do anything about - I’m sure Jacob would confide in people not known to him and fess up about is shenanigans - I think not 😀

Savvy - just to add - I believe it’s Albert that has put a stop to all comms and will not allow any comms other than through the official route ( RNS ) one of the reasons I don’t buy into “ it’s a scam/fraud “

For what it’s worth I do believe AZ was genuinely trying to help a pi who was having cash flow issues but did not want to sell any syme shares , it’s easy to paint a bleak picture without the full facts of which none of us have , AZ did also try to help the pi sell his fathers business for him - I don’t have all the details ( none of us do ) but like yourself and others believe it will come good 🤞🙏

My mistake Micky I wrongly assumed he was in the discussion group early on - if that was not the case I do apologise it must have just been on here I had comms with him 👍