Member Info for Theanalyzer

Latino

One of the reasons I was so negative about RTOP as I posted the day after IPO was the toxic combination of AZ and AG as seen on Supply. Another major factor was the ludicrous IPO price of 60 times revenue for a loss making company that didn't raise any cash on the IPO. I was deeply sceptical that anyone body would pay 60 times revenue. This was only fessed up to months later by AZ when it transpired months later that no company had because none of the £17.483 million was ever paid over and AZ stated that was why RTOP hadn't been paid its loan capital.

AG failed to protect RTOP investors just as he has failed to protect Supply's shareholders. He is either complicit with AZ or simply too trusting. I don't rate David Bull as NED because of his blow up at another public company where he left under a cloud and Alexandra Galligan lacks credibility due to lack of plc experience.

I think Amy Benning is a technically strong CFO but the fact that she isn't on the Board five years later tells you something.

Basically I don't think AZ faces any effective challenge from his Board. Even worse Supply's business is inter connected with AZ via related party entities like TAG, SFE and now Nuburu.

TwoGoodToDie

Do you understand how death spiral CLN’s work?

As it is a loan it’s common to have a stated maturity but the reality is that the lender flogs shares in the market on a forward settlement basis and then issues a conversion note to obtain shares sold to deliver them to the buyer, As the lender is selling before conversion and price is linked VWAP share price formula the lender has very little risk of loss. The biggest risk is share suspension before lender recovers all the cash lent.

CLNs of this type crater share prices. You still get a few naive investors who think the lender is taking genuine credit risk on the company but the reality is that CLN providers make a lot of mon3y from desperate companies who use this form of financing.

Looks like Nuburu has raised $3.4 million so might be able to pay a bit more of Supply financing.

We should know shortly from Supply as to whether that is the case or not.

Having said that AZ would have known the money is coming because Nuburu issued Press Release on 22 April about the raise.

Barry Downes interview on TW's site is worth a listen

Savvy

The first claimed pilot according to the May 2020 Proactive Report still on SYME website, was 2016 so around 9 years ago.

That report also forecast revenues of Euro 65 million and Euro 35 million of profit before tax for the year to 31 March 2024.

Eight stated in an RNS of 6 December 2024 that SFE Equity the purchaser of $40 million 1AF2 bond and it was a subsidiary of the now defunct SFE Finanacier and was controlled by TAG. Why would it make these statements if there weren’t correct?

SFE Equity is also the provider of financial support to Nuburu and according to Nuburu owes majority of $3 million April 2024 investment.

Only AZ really knows what is really going on as he promises cash from private entities affiliated with him or his business colleague Matteo Richebuono.

TwoGoodToDie

True you didn’t say that the Swiss entity was owned by Supply but you said shutting it down would save cash. Why does that matter if it’s not owned by Supply? What point were you trying to make then?

TwoGoodToDie

The Swiss entity is not owned by Supply. However, the Italian Stock company which it owned has performed the only inventory monetisations to date so I don’t see it being in liquidation as being that positive.

Another fund raise at big discount to interim net asset value of 2.5 pence.

I make that five fund raises since interim results, all at big discount to the then published net asset value.

Any gains in net assets due to investments are being eroded by endless fundraisings.

No instant need for cash

No new acquisitions in short term

Existing acquisitions integrated and performing well

Possible high street launch of products in new future

Idea of Zenakine initial sales in next few months

All looks very positive

TwoGood

Supply always has large potential funders but only ever lands a few mini sized deals which lose money after the costs of sales involved.

All from a company that it said had one or was it two pilot IMs albeit on a different dates, if you read broker notes on Supply website. It’s almost as if someone couldn’t remember when the pilots occurred and how many there were.

Roll on end of the month for update on state of finances and a dog ate my homework excuse from AZ about why Nuburu failed to pony up the $500,000 on due date.

TwoGoodToDie

The annual report was issued on 10th May. It’s not uncommon to issue annual report slightly after year end numbers.

Audited numbers and were issued on 1 May at 7.00am to avoid suspension as Main Market companies have to produce audited numbers by 30 April.

Accounts are due by 30 April which will include update on current state of play

Gatekeeper

Even a cursory look at Companies House filings for 79th group entities reveal numerous subsidiaries with million pound losses like 79th luxury living limited . Losses up from £15.5 million to £21.76 million in one year. It has almost no assets apart from inter company debt. Hardly evidence of a thriving group.

Basically FCM were desperate for cash.

As to the FCA 79th Group isn’t regulated by the FCA and the track record of FCA on mini bond lenders think London and Capital Finance, Blackmore Bond, High Street Group etc is very poor.

Given 79th have stopped paying bond holders and are now sacking staff there is no chance of getting second round of funding and a risk that administrator or liquidation will want to get what they can for 50% stake.

Torino

The AI partnerships simply mean that company can interact with the big tech firm’s open platforms nothing more.

It designed to spoof the gullible and naive.

The target AI company website is a joke static website devoid of almost any content.

Punters aren’t even told how many employees or contractors the target has, how many current customers.

B Positive

On what basis should cash be 10% of market cap?

Amused by all the rampers promoting CTAI as an AI play which will by end of June as stated in RNS have no interest in Klarian.

CTAI will get back £567,500 of cash from which it will have to pay off debt recently taken in January 2025 and then try and find a new AI play.

It you want a real AI play look at Mindflair which just realised £2.6 million from Getvisibility and has stake in Infinite Reality and other AI companies.

It also trades at a discount to net assets unlike CTAI which trades at premium to net assets.

Quant

CTAI made a loan to Klarian which is being repaid in cash and not converted into Klarian shares.

That is what matters.

Punters are paying twice book value for a loss making company with a bit of cash and no ongoing AI exposure.

I wonder how much punters have worked out that post June 2025 CTAI won’t have any interest in Klarian either a loan or option to acquire shares based on last CTAI RNS

Unless Croda gives financial forecasts for a new product which I don’t see happening, I really don’t see how Skin can make sales forecasts for product which would essentially amount to a profit forecast for Skin based on pure guess work.

Skin investors may get a better idea of sales volumes when year end accounts emerge.

The claims made for the product sound pretty strong but it will take time for cosmetic industry to respond to launching products.