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Fundamental
Even at today’s price RTOP trades at 9 times revenue which doesn’t sound like a bargain for a serial loss maker with material uncertainty over going concern because it’s majority shareholder hadn’t paid it the working capital it promised at IPO in the Prospectus.
The CEO hasn’t even issued a statement to explain why 85% share price drop since IPO in August was overdone.
Antman44
I trust you were wearing you tinfoil hat when you wrote all those smears and conspiracy theory nonsense..
Let’s see how SYME pans out.
So far my views that it’s not a great investment appear to be correct.
The same is true for RTOP.
Extrader
Thanks which makes my point that shares don’t have to be returned despite what Antman44 or is it Savvy makes
Antman44
Given you still haven’t answered about stock loans shares not needing to be brought back and are now accusing me of being someone else and fraud, I leave to continue to make your unsubstantiated conspiracy claims.
Antman44
I note you ignored my point that SYME confirmed the Stock Lender could choose either shares or cash at their option to terminate arrangements in Dec 2020 RNS.
I suggest that the Stock Lenders after entering stock lending sold shares and will return cash at their conclusion.
Why was they no RNS when first two stock loans matured indicating an increase in TAG’s holding? The
Antman44
No regulator will let a technically insolvent group like SYME buy an even 10% stake in a captive bank.
As to your loan shares point and lack of progress is a stupid conspiracy theory.
The stock lenders biggest risk is that shares go down in value and when they return the shares they don’t get their cash back. How does depressing the SYME share price mitigate that risk.
The stock lenders are also unlikely to sell the shares unless the deal can be settled in cash because if the shares take off in value they could lose a fortune through a short squeeze.
Antman44
The loan shares don’t have to returned. This was confirmed in SYME’s RNS of 24 December 2020 which clearly states “the collateral will be returned to the Group, in shares or cash, at the choice of the borrower.”
Also the loan between DW’s Eight Capital Partners and IWEP and 1AF2 Limited has a nominal value of €72 million repayable in June 2024 and has a charge of 8.3 billion shares.
So you theory isn’t confirmed by the facts.
DW is no longer a Director and sold nearly all his shares to TAG
Ria20
You have gone a bit quiet.
RTOP hit a new low today 14 pence.
Shame it’s down over 50% in last five days.
One wonder if TAG will pay the £515k due today? No news on two previous instalments.
Ria
Apologies your are right it does state 60% market share in Italy in interims but on Open Orbit website it’s states only 25 banks and regulated financial institutions as clients.
The Prospectus in late August stated a similar number.
That is rather odd when there hundreds of Italian banks.
Ria
Italian has hundreds of banks per any credible data source.
The RTOP Prospectus said it had 14 financial services customers across Europe.
Yet you claim a say 60% market share in Italy is right that would imply that there only are 23 banks in z Italy.
Looks like either your research is wrong or you just making stuff up.
Ria 20
You say “DYOR, I have “ LOL
What research have you done beyond saying RTOP looks cheap versus its grotesque historic overvaluation and constant usual ramping statements.
Ria
Mate no institutional investor will invest in a sub scale £1 million revenue, loss making company that has a material uncertainty over going concern on a multiple of 10 times revenue.
Only a low grade trader who ramps multiple times a day would make such naive comments.
RTOP is a dog.
It’s still valued at 10 times revenues which for a serial loss making company with a material uncertainty over going concern.
It’s only “cheap” compared to when it was more overvalued.
Traders might grab some money if they get timing spot on.
Profitable, dividend paying group where net assets of £200 million exceed market cap of £138 million.
Ignored by loads of investors.
I continue to hold my 20,000 shares.
The CEO should be commenting on whether AZ has paid two instalments of cash promised.
The alternative plan is to use AZ warrants instead of paying up in cash is a dead duck as the exercise price 30 pence.
A real disaster of an IPO
Gordonbennett
Icon has £1.5 million of debt in convertible loan notes so it’s hardly debt free is it?
What a dog down from IPO price of 100 pence at end of August.
Feel sorry for punters who paid up to 250+ pence.
Unicorn
£14 million for Tradeflow was the headline sale price cited by SYME from which they deducted £12 million of future earn out payments. There is also a £352,000 investment being remaking 19% of Tradeflow still owned by SYME