Member Info for richred_uk

"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*.

I'm trying to come up with a reason to buy these - the total transaction gives the right to pay 2.14M for shares you could buy today for 731k. The first 2 tranches would need the SP to go up over 4 times, tranches 3-5 by 2-2.5 times, tranche 6 close to doubling - only tranche 7 would seem worthwhile considering as it would only need a 12% rise to breakeven, but that's only for 150k purchase. If the SP went up to 0.09 12 (about a 20% rise), the buyer could make £10k excluding costs and spread on 150k - it doesn't seem attractive to own these.

OTOH, if Mercator held these at value on their balance sheet, do they need to dispose of them to crystalise a tax loss? If they think there's no chance of making profit, sell them to someone for a notional £1 or whatever and book a tax write-off? That would make sense to me.

The Key words are "Like-For-Like", some properties were sold, so (very rough maths, not data pulled from the RNS other than start and finish):

Portfolio Was: £828.8M

Sell properties (£25.5M)

L-f-L gain 1% of remaining portfolio £8M

Portfolio IS: £811.3M

So portfolio goes down, but the bits they kept went up, so no, not error,

Thanks luckybob

Am I remembering correctly that demo used to claim he was a barrister? Just wondering while trying to follow his English in that last post.

IIRC, the Vechain 8.5m got rolled into a supposed pot of 50m (I can't remember if both were gbp, usd or a mix). The balance was supposed to be made up by other crypto or more vechain, peak keeps posting that vechain have promised 50m but that's not my reading, and seeing as it hasn't materialised, I suspect it was a way of vechain backing away subtly waiting for other funders.

It does worry me somewhat that people can spend £16k on a share not understanding if they will get the dividend from it or not (I guess it's only £400 which may not be a worry if you can drop £16k in one go).

"MM camped on the Bid!!Today 14:36

we will be going over the pivotal 10 parapet this afternoon mark my words. Last orders under 10! IMHO GLA"

Your words marked = 0/10

(well maybe 1/10, there were 2 trades at exactly 0.10 for 2.10 and 1.20)

We should. Not in my account yet, but I expect it sometime today.

Yes, mine cam in on Friday (ISA with AJ Bell).

They pushed the 3rd divi back - iirc it was declared the same day as the final and explained away as to do with accounting delays due to the recent acquisition.

AGM is 20/9 - expect a Trading Update and (fingers crossed) a small divi to be announced.

Fear of Global Recession

High Interest Rates hitting leveraged companies (not applicable to GAW, but dragged down by the market sentiment anyway)

High Interest Rates making risk free investments more attractive leading people to feel comfortable pivoting away from risky equities.

Above all IMHO of course

"Why an error 7m"

because it should be 0.1196 = £70k trade, not £7M. point 1196 of a penny. not 11.96 pence per share.

They have reduced the # of shares that they own versus the last TR1.

They have increased the CFD's that they have.

You have to hold shares before the markets open today (basically you have to buy them by 4.30pm yesterday). If you buy them at 8.00 AM (or later) today, you have bought them ex-div (excluding the dividend).