The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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
Unicorn
Tradeflow was sold for only £2 million and TAG is paying. There is £2m debtor in interim accounts and TAG have paid £0.5m since 30 June 2023.
The scale of cash burn in last six months of almost £2m versus current market capitalisation £2.5m illustrates the scale of the fundingchallenge.
If VRS can sell business that will lengthen cash runway but buyers don’t appear to be that keen and if they are smart they can see that VRS is short of cash.
Outlook looks grim
Smokey
VRS has net assets of £10.5 million which is about the same as intangible assets.
So VRS gets ready for next placing at sub 1p.
The year end results will show another big loss. The Graphene goodwill and intangibles will get written down and group will I suspect show liabilities exceeding assets.
Graphene commercialisation is simply happening too slowly and VRS has run out of time as a listed entity.
As market cap declines, each placing becomes ever more dilutive.
U.K. government will lose the £5 million innovate loan it gave VRS and shareholders will get nothing.
Elltel
SYME is standard not premium listed on the main market. Same. AsRTOP. Many of investor protections on premium list don’t apply to standard lidt,
Surely the Chairman and CEO who look after Tintra Trust have good idea of deal status so why did they just sell 10,000 shares below muted offer price?
Still overvalued
I wonder if AZ’s TAG ponied up the £500,000 cash it was supposed to today.
Chewy
Interest costs are down a lot because SYME replaced expensive Mercator debt with a lot more equity.
Administrative costs are up a lot.