Member Info for Theanalyzer

Trigger

The charge owed to Eight Capital and other DW entity is €72 million and its owed by TAG not SYME.

Unless DW agrees to extend term he could end up owning all of AZ shares in SYME and RTOP.

Personally I think he will extend term and roll the dice hoping AZ can create a miracle at both SYME and RTOP.

The size of discount to net asset value, a lot of which is now in cash, with even in cash more after year end is crazy.

Potential further upside on Paladin sale of £17.8 million depending on performance.

Exited LEBC post year end which was once one of their largest holdings but struggled to due pension misselling now valued more conservatively.

I am content for BP Marsh to hold cash as their investment track record is strong.

Ns 20

SYME started life with 32.7 billion shares and now has 71.7 billion.

SYME has only diluted shareholders excluding warrants just over twice. Rookie numbers.

Iconic went 1.5 billion shares to over 46 billion shares in under 4 years, did a 1,000 for 1 consolidation down to just 4.6 million and is already up to 11.million shares again.

Mister Green

It’s not difficult to ramp very small market cap illiquid AIM and Standard Listed companies.

The ramping squad buy in, then start ramping on boards and social media. They sell out as other punters buy in to the story concocted by rampers.

In RTOP case it’s look how cheap it is versus history and it’s a recovery play.

The bubble won’t last as on fundamentals it’s a loss making dog of a business where the CEO has resigned which is hoping that AZ will keep to his latest funding promises of money due by next Friday or it’s game over.

It will catch out some naive investors or those who get their timing wrong.

TG2D

You are overstating things in your attempt to support SYME Directors.

The audit report is the sole responsibility of the auditor not the company. The SYME opinion a standard long form audit opinion albeit one with a material uncertainty paragraph over going concern.

The detailed financial statements are those required by IFRS accounting standards.

As to your it’s all very complex comment why did AZ state that SYME ready to fly years ago?

The RTOP IPO fiasco of stating in a Prospectus signed off by SYME Chairman and AZ that 12 independent Italian investors are going to pay £17.483 million and then they pay £0 to date is a massive red flag for me. SYME is going to help companies effectively borrow money and part of their process for funders who can do their own credit checks is to check credit worthiness but he didn’t properly ensure 12 potential investors in his IPO weren’t poor credit risks. He then took from August 2023 to May 2024 to fess up that this was why TAG wasn’t paying SYME and RTOP their working capital funding requests on time.

AZ promises a lot but is very poor at delivery and when things do wrong he either doesn’t admit to the problem e.g Stormharbour administration or he is slow to fess up to the problems like U.K. IM announced in July but AZ only fessed that deal still wasn’t completed until early 2024.

Bond

The sale of Korean assets delayed next bailout placing.

JP Mustang

I note that RTOP is a standard listed company not AIM so there is no NOMAD asking questions and it was a Direct Listing so no broker asking questions either.

Jim1971

At IPO price of £1 Reg Tech was valued at £60 million, a multiple of 60 times revenues.

Some punters bid it up to over £2.

I highlighted it was over valued at the time and I was right.

Cristal

A material uncertainty over going concern is bad news.

You might see it a lot but it’s a clear warning that more funding is required and that funding hasn’t been secured at date of signing accounts.

The placing shares were due to be admitted on or around 8 am on 28 May.

Looks like another deadline missed.

I wonder if all cash has been received?

Jonahb

As I am not an investor I can’t attend the AGM.

I suspect AZ will give his usual jam tomorrow promises.

TAG had 3 businesses per SYME Prospectus being

SYME

RTOP

Darwininsurance

SYME and RTOP haven’t increased in scale, remain loss making and technically insolvent and Darwininsurance is already in liquidation.

Not a great track record for an entrepreneur.

Amusingly in US filing for Nubaru, AZ stated that he was an entrepreneur citing sectors he was involved in but didn’t provide any names of companies for obvious reasons I.e his track record is dire.

Janet2007

It’s an utter dog.

Loss making

Technically insolvent

Not even paying full directors fees to save cash.

Likely to go bust before June accounts are published.

First it’s a RNS reach so not a financially significant RNS.

Second chips in Parmesan cheese first cited in one article 8 months ago so it’s an established technique not a new market development.

However, it keeps enthusiasts happy and allows flippers in the placing still not out to exit.

A sign of a weak company is lots of RNS announcements pre deal.

Meanwhile SYME will burn another £10,000 of investors cash today.

Peakhope

Look at IAF2 Limited accounts describes the loan or look at Eight Capital Partners accounts who own part of the debt

Micky1

The 1AF2 bond is most likely to extended because no way will TAG have €72 million by end of June

Launch has occurred should put end to conspiracy theories that it will never happen

Sharebel

The biggest detractor is AZ with his constant unfulfilled promises.

Perhaps this time it will be different.

Meanwhile SYME remains technically insolvent with net liabilities of around £3 million. The £1.5 million raised will just about cover the first 4 and half months of 2024 cash burn and net liability reduction over the year end figure is due to subsequent TAG debt for equity swap of £800,000.

At least the cash raise will help pacify the creditors for a while.

tag is financially ****ed.

the £17.483 million due from all 11 buyers never arrived as they defaulted on share purchase. odd to put it mildly.

tag has been dumping those shares in market which is why rtop share price has cratered.

it owes syme £1.8 million and rtop about £4 million which is more than its stakes are worth.

The funding will ease short term cash challenges but with a £3.7 million equity deficit at year end even after this and £800,000 TAG debt for equity swap SYME remains technically insolvent even before last 4 and half months trading losses.

Perhaps this is why Hughes87 was so busy tweeting and ramping last few days.