High risk investment6 Feb 2024 08:11
SYME is a company that has an ongoing material uncertainty over going concern because its major shareholder owned by the CEO isn’t paying its working capital requests on a timely basis .
It had a deficit on shareholders funds of £2 million at interim stage, which is growing at around £400,000 a month.
It may shortly complete its first label IM for €10 million which will generate €150,000 before costs but the bulls believe that will snowball into a huge revenue stream unlike the VeChain deal back in June 2022 and U.K. IM deal six months ago which to date haven’t moved onto next stage.
Time will tell .