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No TW tweeted about it yesterday.
Trevor
SYME were late filing their annual report due by end of April.
TW reported them to FCA highlighting this failure including absence of published audit report an suggested FCA suspend them.
SYME scurry around and publish audit opinion in separate RNS and say annual report will be out shortly so still overdue
Big loss as expected
Minimal revenue as expected
Material uncertainty over going concern as expected
Net current liabilities and net liabilities which mean SYME remain technically insolvent as expected
Cutting staff in 2nd half of 2023 and is being fined by Italian authorities for late payment of payroll taxes.
How long until next bailout placing and at what price?
SYME is on verge of insolvency and it is owed over ÂŁ1.7 million by TAG which remains unpaid. Requested almost ÂŁ1 million in 2024 but paid nothing.
SYME still overvalued.
Too Good 2 Die
Yesterday’s announced announcement was clearly a big positive.
You are starting with highest margin of 3% and ignoring SYME’s cost of delivery of providing its service.
To date SYME has operated with a negative gross margin. I do expect that with a much larger volume of IM SYME will now switch to a positive margin but breakeven is still some way off.
Hard To Handle
I think you have identified the wrong company. Nubaru was reversed into Tailwind Acquisitions not Tailwind Acquisitions II.
Itsagame
Have you factored in the reserve deterioration charge in your calculated NAV?
Peak
Nuburu is loss making and it has written its inventory down by 50%, it’s just over $1 million, so I think your idea about IM is unlikely.
Possible corporate transaction involving NYSE listed group Nubaru
Details on their website
Upzeplums
Your wrong.
The Banco BPM loan is repayable over 5 years with final payment on 11 Oct 2027 see Note 16 to 2022 accounts.
Extrader
Banco BPM are of course existing lenders to SYME for €1 million secured against group IP in Italian subsidiary so they already have a relationship with SYME.
Camkite
Wyld need the warrants T04 and T05 to bridge the funding gap between and forecast profitability.
Based on low value raised today I suspect they now will need more funding.
Wyld T04 warrants exercise price just SEK 1.83 which is why share price has dropped.
Wyld needs a good Q2 and Q3 to get T05 warrants in autumn away at good price or it will definitely need a further fund raise.
Tern may have some exciting prospects but Tern still has quite a high expense ratio relative to its net assets and its 4 main companies still require regular cash funding as they haven’t reached profitability yet.
The result is that Tern consistently needs to raise cash.
I don’t see that changing that quickly.
Deacs1970
I think Standard List is marginally worse than AIM because there is no NOMAD that is supposed to sign off on RNS announcements although some NOMADs do sign off some right old pony.
Deacs1970
SYME is a Standard Listed not a Premium Listed company on main market.
Many Standard List companies have performed badly e.g SYME, RTOP, Dispensa, Iconic, Gild. Chill
Some really poor quality business have reversed into small shells and it’s the same as the worst of AIM.
TwoGood
It was extrader not me who raised gig point
Chewy8uk
When TAG announced recent debt for equity swap the TR1 for TAG’s increased holding is included in same RNS.
No numbers given for this or any previous quarter.
No indication if revenue was above or below revenue growth projections made byTM.
No indication of gross margins.
Old1
I hope your not heavily invested as RTOP just hit a new 52 week low.
What a ugly dog of a share.
TwoGood
Having read a few Heads of Terms, I know what they are. Of course the deal wasn’t going to complete over the Easter weekend but AZ set up expectations in the first place that deal would complete by end of March.
Meanwhile VE Chain Phase 2 first mentioned in June 2022 and then expected to be completed in Dec 2022 remains uncompleted in April 2024.
The first UK IM deal was announced in July 2023 but it wasn’t completed by 29 February 2024 and no update on that deal either.
AZ does seem to struggle to get deals announced completed.