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Funki
If the Directors didn’t believe in the company and its projects why would take salaries in shares?
Wiggy spread it’s 99% at present.
Very weak trading update. Revenue down 50% year on year.
RTOP only received £600,000 of £2.9 million owed at 4 January.
RTOP needs a refinancing soon or it will go bust.
Two good
SYME debt on balance sheet already..
It owes BPM a €1 million secured over group IP.
It also owes SYME £800,000 from 1st working capital facility.
I just don’t see BPM lending millions more to a group with revenue of around £150,000 last year, losses in the millions and a deficit on the balance of £2 million at interims which is probably £4 million by now.
SYME needs an equity refinancing and I think one will occur before 2023 accounts are signed off in late April 2024 to enable auditors to sign off their opinion.
In the RNS TAG admits that it is seeking new finance to pay up the £1.76 million it still owes SYME.
Of the 4 IMs announced Venus only did first $1.5 million out of $10 million and over a year later we still haven’t hit phase 2. The first U.K. IM announced in July 2023 still hasn’t completed almost 8 months later.
Which leads me to view that speed of execution of; deals is slow and thus I don’t see a rapid scaling up.
Too Good
SYME is owed £1.76 million by TAG being £500,000 due under Tradeflow sale and £1.2 million requested but not paid under TAG finance facility as clearly set out in the last paragraph in the summary.
RNS also mentions that SYME is looking at alternative finance to TAG so I don’t think that rules out a placing as you suggest.
Visit Timor
Your wrong about the Iconic CLNs as they include a fee feature whereby if conversion price is below nominal share price then they get additional shares to make up difference as it clearly shows in conversion RNS notes.
Also if you look at AGM it shows that there is still £3.9 million in unconverted CLNs and a liability for £665,000 in unpaid management fees so potentially epic dilution.
Good luck.
I hope punters recognise the scale of CLNs that Iconic has waiting to be dumped at any price to gullible buyers
Look at Ria desperate ramping for a trader who picks all the smallest companies just after a drop and try to ramp them to make his trading profit.
He was previously ramping this to get back to a £1 and it hit an all time this week.
Davey
The new part time CFO at Opti needs to step up.
Providing an overall unaudited revenue number for year would be a very useful addition to this word salad of random percentage increases, indications of monthly revenue of £20,000 to £50,000 per month in China Ecoomerce and stock taken of £417,000.
Reading between the lines it looks like revenue and gross margins will be up but by how much and what to - I couldn’t begin to make an estimate and that is poor.
Many of the UKs largest groups and all the major banks have published their full audited Dec 2023 results and yet Opti can’t tell us unaudited revenue.
Some strong and positive messages in this RNS
SOH seems to have turned the first products business around and appear to be on cusp of something major with 2nd generation products
Sweetbiotix looks a potential game changer if they can get it formally launched
Chewy
TAG’s last accounts are for 2021 and showed very little cash and net liabilities. 2022 accounts well overdue and still not filed.
RTOP last funding RNS TAG had to borrow money to pay a mere £100,000 to RTOP of the £1 million promised.
Chewy8uk
Cash crises is evident from RNS announcements.
Material uncertainty over going concern in interims and scale of cash outflow from interims
No material new revenues announced from IMs since interims
RNS about TAG not paying up requested cash funding requests
It isn’t that hard.
Steady
TAG is strapped for cash and can’t pay either SYME or RTOP their requested working capital payments, so I don’t see TAG repaying the last outstanding stock loan to get back the shares which were almost certainly sold by lender at much higher than current price.
I suspect that Stock Lenders sold shares into the market and have offset cash proceeds against loan and made a nice profit. Notably there was no change in TAGs holding when first 2 loans expired.
Stargate
The return on equity is a positive because the loss, a negative, is also divided by a negative, ding deficit on shareholders equity.
Mitchman
If an inside party was selling why would the company want to hold up good news?
The reality is that the share price simply reflects sustained under delivery .
WiggyP.
Companies House filings show that £1.92 million of shares were given £1,520,000 to Holiday International Inv SA, an offshore company possibly from Panama and £380,000 to Parzival Partners as SYME advisors for Tradeflow purchase. We also know that Parzival is a tiny outfit with only a few employees.
It is also known that the acquisition fees were over 16% of stated purchase price of £11,545,000 including deferred consideration, way above normal fee ranges charged by well known professional advisers.
We also know that the £31 million and £14 million valuations given at time of purchase and sale of 81% of Tradeflow were both very different to actual purchase and sale prices.
I am sure it was all legitimate and above board though.
Chewy8uk
BancoBPM aren’t injecting €1.5 million into SYME.
Its AZ and some investors investing €1.5 million so the Stock Company can buy the inventory.
If this is the standard of your research no wonder you love SYME.
Wyld share price off 12% today so far. Wonder if Tern is still selling shares?
Gas
SYME year end accounts don’t have to published until end of April 4 months after year end. AGM will need to be after accounts so meeting can approve the accounts.
Is it Black Rock or Warren Buffett loading up nope it’s only £7,200.
Mitchman
I see you have a day off as well