Member Info for Theanalyzer

TwoGoodToDie

Most people reading RNS would interpret the Banco BPM €8.5 million contribution to WL is now a dead duck it’s termed under review .

That means the €1.5 million that SFE were putting in as a first loss layer were putting in has also disappeared.

Usual some and mirrors as ever with AZ.

TwoGoodToDie

You’re confusing TAG and SYME.

I remember when you were arguing TAG’s liability to Eight didn’t even exist. LOL

TwoGoodToDie

There is no mention of cash or whether TAG are up to date on funding payments two serious omissions for a company with a material uncertainty over going concern.

If you had read and understood the interim accounts you might have spotted that SYME had net current liabilities of £1.98 million so it survives by not paying creditors and was technically insolvent both in terms of having net liabilities and also net current liabilities.

You carry on with your glitter rolling of the RNS.

Peakhope

Only 6 clients have signed a letter of intent or term sheet as set in the RNS. SYME do say they are talking to other potential clients.

SYME really should have updated on their cash position. If TAG haven’t being paying them and TAG paid very little after 30 June 2024 as you can from subsequent events note then then it’s only a matter of time before HMRC or another creditor puts in a winding up petition and it’s game over.

SYME were burning over £200,000 a month in first half of year and although it’s probably lower now as some expensive staff have left I suspect their net debt position has continued to grow.

TwoGoodToDie

The RNS specifically talks about the search for a new auditor and they clearly haven’t found one yet or they would have said so.

You keep on glitter rolling the RNS.

Weak update

No mention of cash position or if TAG have made good on previous commitments for a company with a material uncertainty over going concern and net liabilities that is poor form.

BPM looked to have walked on funding commitment promised at start of year.

No new auditor yet found.

Team departures now causing operational challenges.

Old discredited sales pipeline metric removed and Supply now have just 6 potential Italian clients who are prepared to sign a letter of intent or term sheet.

Supply have monetised a few million of inventory, so revenue will be tiny and probably loss making after costs like 1st half.

So it’s another guaranteed loss for second six months of year, increased deficit on net assets.

The spin about latest new deals will no doubt persuade the dwindling fan club to top up and shout about great prospects.

For me it remains

Cannot

Recommend

A

Purchase

Plenty of smaller companies attend investor days where they talk to the public, others companies pay promoters like Zak Mir and David Burton. Larger companies have paid for research articles. There is also investor meet company where Directors respond to questions. I think that most companies stay the right side of not releasing market sensitive information on such forums.

Sometimes these help formats help address rumours raised on bulletin boards where people try and micro analyse every word and reach wrong conclusions. Part of the issue is a lack of patience waiting for news and investors hoping for a level of commercially sensitive information they are never going to get or unrealistic expectations of when things will occur.

I suspect the annual cost of Elric’s services relative to most investors holdings in Opti, Skin or ProBiotix is tiny.

I hope Elric can carry on with his podcasts and found latest podcast to be interesting.

Old1

Cyk is run by Jonathan Bixby who also ran GILD and Cellular goods into the ground but not before he had sold most of his shares. Cellular is now an AI beauty play as it seeks to raise cash for punters investing in latest hot sector.

You probably lose all your money.

Mol42

TW commented that current segment analysis which is based on geographical regions is pretty poor and should be more aligned with product / divisions ie Axis Boitix, Croda, Dermatonics, Bio-Solutions etc

TwoGoodToDie

I am not Tom.

I still think SYME will fail as a business.

The Board should be providing regular updates on SYME’s financial position given its weak financial state.

TwoGoodToDie

We don’t often agree but your post on Savvy at 8.19 hits the nail on the head.

A very confident and upbeat presentation by team

Axis Biotix continues to grow with high retention rates.

Interest in Acne product

Dermatonic growing nicely with India roll out

Synergy benefits from Bio Solutions

Croda likely to be a game changer for group

Many AIM retail investors are short term traders chasing the next short term low cap multi bag opportunity.

Next year’s interims will be quite exciting as we get first indications of how Croda is starting to deliver

I’m a long term investor prepared to ignore short term volatility and purchased a few more shares today.

TwoGoodToDie

They will be SFE Equity Investments in listed financial instruments and we don’t know the names of the issuers.

PS ECP didn’t received €40 million in SYME shares due to the fact that SYME is only valued at a few million in total.

TwoGoodToDie

Only the insiders will know what listed instruments have been given in exchange for 1AF2 because ECP didn’t say.

What I do know is that it can’t be €40 million of SYME shares like you were stupidly suggesting.

Dispensa run by DW was similar, a main market listed company, where the auditor resigned, company delisted, all previous Directors resigned and still no accounts to 31 Dec 2023 produced .

PIs kept in the dark. RTOP looks to be a copy cat of that.

Once delisted the independent Directos will leave and AZ and AG will be free to wind down the former Plc out of public gaze. AZ might even buy back business at nominal amount as part of wind down leaving shareholders with nothing.

It’s a disgrace.

The FCA who authorised the dubious Prospectus for the IPO will I suspect do nothing.

TwoGoodToDie

The previous bond was issued by 1AF2 Limited a U.K. private company which was technically insolvent at last two year ends and reliant upon parental guarantee from TAG for most of its assets. Under sale ECP keeps the previous loan security package until it’s paid off and gets €40 million in listed financial instruments.

I think most people would think that is an improvement even if listed financial instruments aren’t very liquid.

TwoGoodToDie

Given ECP don’t disclose the details of the financial instruments listed how would outsiders know what they are.

There are over 21,000 debt instruments listed on London Stock Exchange.

So your being a total plank to suggest that pis can work out which instruments they are.

I doubt it’s SYME shares or RTOP shares because they are in the existing security package based on what ECP has stated in the past.

As for Peak’s suggestion of Nuburu share given AZ hasn’t fully paid for them yet and is being chased for outstanding balance owed under Share Purchase Agreement since April 2024 of around $2.4 million, I suggest that is a non starter.

I think it will be illiquid debt instruments in smaller companies or lower tranche debt in securitisation structures.

ECP won’t find easy to sell such poor quality assets

Strangemartian

Question if TAG is not strapped for cash why hasn’t it paid SYME, RTOP and Nuburu the millions they are owed?

TwoGoodToDie

ECP didn’t provide the details of the listed financials instruments it should have but it didn’t.

I suspect it isn’t high quality assets that can be easily turned into cash because it if was then 1AF2 could have paid cash months ago when debt first matured and the RNS wouldn’t say realisable into cash over time.

Meanwhile DW still has same security charge over assets as previously.

We also discover today that AZ owns SFE via TAG. This was entity which promised to invest €135 million to support IM deals but so far has delivered Nil.

Perhaps TAG might now file its 2022 and 2023 accounts to demonstrate whether it is solvent or not.

Strangemartian

The repayment isn’t in cash and ECP retains charge over 8 billion SYME share as spelled out in RNS.