Member Info for THE_CHAIN

This new accounting structure achieves a lot of what the RTO would have done anyway.

Yes terrible decisions, share price decimated. But with things now changing, therein lies the opportunity.

I suspect Brundle will be gone from TM1 before year end, and Alex will be working his socks off to mend relations with shareholders.

What Miller is saying is true, the BOD have flogged the life out of tm1, to support recyclus at all costs. IPO investors have been badly burned.

As mentioned by someone else earlier, this is often the case with startups. Doesnt excuse it though.

With all that said, it doesnt detract from the current investment case from these levels. Recyclus has got to a point now where it is generating revenue and scaling up.

Tm1 has two new directors, will be debt free, owed 9m, and has some large cornerstone shareholders, whos holding massively out weighs the current BOD. The winds of change are a blowing.

My point was revenue didnt start until april. I was highlighting that a 179% increase is impressive, that was all.

They didnt have a tfs until Feb 25, and first shipment of black mass was end of march 25.

The plant has been operational since April 2025, and revenue has increased 179% and will continue to do so.

Recyclus revenue was 550k up to June 2025, so 179% increase on that.....£1.5m

The new beginning I alluded too, relates to current and future TM1 investors.

Potentially clean slate regarding debt. Potential to oust bod. Large percentage of the co in sticky hands. 9m owed to us. If recyclus continues to scale up, its becoming a very different beast indeed.

I very much doubt that Swanny and Atlas would be accepting shares as settlement if they didnt see future value creation.

Not to mention the two new directors. All will have done significant due diligence before committing.

I understand the bitterness from ex investors. They have no doubt been burned.

But we are being presented with a new beginning. And potentially enough shares in the hands of those that may fancy mounting a coup on the current leadership.

I wouldnt be at all surprised if Brundle stepped down before being ejected. But we will see.

Updated terms on cln settlement. Creditors still playing ball.

Placing letters by next Friday 20th.

To add some balance, tm1 owns 48% of recyclus, and now will report recyclus revenue on tm1 accounts, recyclus is subsidiary of tm1, to say the two companies have nothing to do with one another is absolutely incorrect.

If you dislike the directors so much, perhaps pay attention to the fact we have two new guys, and swanny taking 25% of the co as payment and a place on the board. For the first time, investors are going to have a major say as to who stays on the board come the Dec 26 agm. Ponder that.

Pass the popcorn....

To get 60 tonne of black mass they have to process 120 tonne of feed stock.

120 x £700/4600 gate fee, variable by battery quality.

60 x £2100

At present likely making £4-500k a month or there abouts. Will look a lot better when they are shifting 100 tonne of bm a month.

The 60 tonne figure is from the recyclus crowd cube prospectus:

Achieved first monthly profit in July, now ramping up from the current 60 tonnes per month. Indicative production levels show revenues in the year to June 2026 of £5.1m with c.1,100 tonnes of battery feedstock, rising to £12.8m in the year to June 2028. Gate fees modelled between £700/tonne and £4,600/tonne, depending on battery type, and are currently achieving this. The main recycled product “Black Mass” current offtake price is modelled at £2,100/tonne, which is expected to increase significantly following feedstock optimisation and stronger metals market conditions. Off-take for the other recycled materials secured: Copper, aluminium, ferrous and non-ferrous.

They are doing 60 tonne a month at present and ramping up.

My second name is Marks-Thomson, clue for you wkw 🤣🤣🤣

This is all very amusing to read. Looking forward to the next update.

Read down you muppet, i was one of the first to comment this morning 🤣

Still dont hear that fat lady? Do you? 😂

It aint over until the fat lady sings 😜