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AJ Bell on the 12th
Technically it doesn't actually say AZ is putting $3M in - it says "investors" (plural) are putting $3M in and that AZ "has led the charge on this strategic investment, as he seeks to bring his knowledge and past successes to NUBURU."
Could mean he has put in $2.99M and others have put in $0.01M, could be flipped around or even that he has put in zero but has put together a consortium of other people that put in $3M. I'd suspect the truth is somewhere in the middle and will come out with later filings if people want to check.
Dividend, not benefit - senior moment
IIRC last year's cash/ benefit benefitted from a French VAT refund that was in the low 10's of millions.
Aldermore do Invoice Finance (and I think Asset Finance) too - I used them for factoring invoices at a job about 20 years ago.
Now down just under 12 per cent.
From the dividend announcement :
"Dividend Declaration
The Company's Board of Directors has approved a dividend of 2.0 pence per share for the September end quarter. The ex-dividend date will be 28 December 2023, and the record date of 29 December 2023. The dividend will be paid on or around 12 January 2024.
Any such dividend payment to Shareholders may take the form of either dividend income or "qualifying interest income", which may be designated as an interest distribution for UK tax purposes and, therefore, subject to the interest streaming regime applicable to investment trusts. Of this dividend declared of 2.0 pence per share, 1.15 pence is treated as qualifying interest income. "
I *think* if you hold outside an ISA, the 2 'types' of dividend can be treated differently. For the trust, I think it allows then to get tax relief on the "interest" part of the divi, in the same way as if they were paying interest to a bank.
Maybe that was vagabond's piggy bank money?
"All you need to know is the debt now is insignificant to the potential coming"
The debt is irrelevant, the break even point is highly relevant (Balance Sheet versus P&L). SYME will go deeper and deeper into debt (or more and more diluted) until it breaks even. Looking at the break even point and whether/ when it can be reached is the key to whether this company/ model can work or not.
True, but the CoS is a very murky figure in SYME - in 2022 it was 338k GBP but a year earlier it was 804k - who knows what they are charging to it? I assume a large chunk is staff salaries, and one would *hope* that especially for WL business, those costs wouldn't rise in a linear relationship with turnover.
I'm being an idiot - that's a 6 month loss. so double to T/O's needed for full year break even - 640M GBP of WL or 320M GBP of traditional IM to break even on an annual basis.
From the half year report 29/9/23, Loss from continuing operations was 2.4M GBP (this excludes the losses from TF).
Assuming Savvy's 0.75% margin is correct (and it seems about right), then SYME would need to do 320 M GBP of white label to break even if it did no traditional IM's on top.
If it did no WL and just traditional IM, then it would need to do about 160M GBP of IM's. £2 of WL = £1 of traditional as regards earnings for that calc.
So it will increase in value 14 times within the next 12 months? Making a Market Cap of 612M?
That would have to be some hell of a plan to go to!
Or you are spouting your usual ...
Where are you getting the ex-div on Friday 15th from?
According to my notes and the investor relations part of the GAW website, the last div was paid 3/11 and went ex-div 28/9, I can't see any divi having been announced since that.
"Syme will succeed its up to u to decide just my opinion"
But according to you on 2 Oct 23,
"Zamboni companies never produce profit"
So were you wrong then or wrong now?
THGROCKET 16 Oct 23 on the RTOP board - "No one trust zamboni after what happened to syme true vale 2p"
THGROCKET 6 Dec 23 on the SYME board - " this is going to happen, rockets ignited finally"
So what changed your view of Zamboni's trustworthiness in the last 2 months?
So SYME is charging TAG 15% interest on overdue payments - on an annualised basis, is is just over £143k on the 2nd Tranche of the Debt Novation Deed and the Top-Up Shareholder Loan Agreement. If no further monies are received by 31/1/24, then the 3rd Tranche of the Debt Novation Deed will be overdue and the annualised interest will be just over £218k.
Per the Half-Year Report on 29/9, SYME had IM revenue of 77k (154k annualised) which was split 37k IM fees and 40k due diligence. I've always admired the brilliance of SYME charging due diligence fees for services it then doesn't provide, but it seems that "not receiving monies from our parent company" might be an even better business model, at least as far as the P&L is concerned, if not the cashflow.
"Has AZ - wearing his SYME hat - asked AZ wearing his TAG hat - about the reasons for non-payment, so that he - AZ wearing his SYME hat - can offer an explanation to his shareholders ?"
I wonder whether AZ wearing his employee hat has told AZ wearing his SYME hat that AZ's employee wages didn't have to be paid until AZ wearing his TAG hat sent the overdue money over? Or whether he just pocketed them regardless.
"Mercator never executed the warrants as far as we know therefore they won’t have parted with any money for them so they should be on their balance sheet and no loss has occurred"
It's not inconceivable (but not my area of expertise) that when Mercator did whatever they did to get the warrants ( I can't remember if it was a convertible loan or a straight share purchase or exactly what) that they assigned some of the costs to the warrants as opposed to the main shares/ loan that they were issued - that is what could generate them a tax loss - if they are a zero value/ cost asset on their BS, then I can't see why they would want to sell them except for a material value, and I can't see why any purchaser would pay Mercator a material value for them right now.
We know that the warrants weren't executed by Mercator, as they still exist - if they were executed, they wouldn't exist to be sold.
You might think he *should*, I doubt you think he *would*.