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The CEO should be commenting on whether AZ has paid two instalments of cash promised.

The alternative plan is to use AZ warrants instead of paying up in cash is a dead duck as the exercise price 30 pence.

A real disaster of an IPO

Gordonbennett

Icon has £1.5 million of debt in convertible loan notes so it’s hardly debt free is it?

What a dog down from IPO price of 100 pence at end of August.

Feel sorry for punters who paid up to 250+ pence.

Unicorn

£14 million for Tradeflow was the headline sale price cited by SYME from which they deducted £12 million of future earn out payments. There is also a £352,000 investment being remaking 19% of Tradeflow still owned by SYME

Unicorn

Tradeflow was sold for only £2 million and TAG is paying. There is £2m debtor in interim accounts and TAG have paid £0.5m since 30 June 2023.

The scale of cash burn in last six months of almost £2m versus current market capitalisation £2.5m illustrates the scale of the fundingchallenge.

If VRS can sell business that will lengthen cash runway but buyers don’t appear to be that keen and if they are smart they can see that VRS is short of cash.

Outlook looks grim

Smokey

VRS has net assets of £10.5 million which is about the same as intangible assets.

So VRS gets ready for next placing at sub 1p.

The year end results will show another big loss. The Graphene goodwill and intangibles will get written down and group will I suspect show liabilities exceeding assets.

Graphene commercialisation is simply happening too slowly and VRS has run out of time as a listed entity.

As market cap declines, each placing becomes ever more dilutive.

U.K. government will lose the £5 million innovate loan it gave VRS and shareholders will get nothing.

Elltel

SYME is standard not premium listed on the main market. Same. AsRTOP. Many of investor protections on premium list don’t apply to standard lidt,

Surely the Chairman and CEO who look after Tintra Trust have good idea of deal status so why did they just sell 10,000 shares below muted offer price?

Still overvalued

I wonder if AZ’s TAG ponied up the £500,000 cash it was supposed to today.

Chewy

Interest costs are down a lot because SYME replaced expensive Mercator debt with a lot more equity.

Administrative costs are up a lot.

Ria

Even with a 50% growth rate in revenue for the whole year RTOP trades at 20 times prospective revenue for a loss making company with a material uncertainty over going concern.

What a joke of a company.

Year end accounts due by Friday which will give news update

So Board get approval to issue more shares but at what price…

Strangemartian

Even 10 pence equates to £6 million or six times revenue which shows just how overvalued RTOP was at its IPO.

RTOP is now down to only 80 times revenues.

Revenues which have remained broadly static for last three years as set out in the Prospectus.

Excluding related party sale to SYME revenues in last year would have dropped 30%

RTOP is simply overvalued and in a crowded market.

One for traders who ramp after they have brought in and whilst they are selling.

Avoid

Valuing a company at 100 times revenue (if you include SYME revenue which were for a non RegTech project) is highly optomistic.

When you discover that is has big powerful rivals like Recnology where new CEO used to work makes it look even more optimistic..

The new CFOs salary in his last job equates to 15% of revenue unless you think he moved a pay cut.

One for traders and eternal optimists.

maidit308

you really should read the august prospectus.

iconic never owned any of joe media which was and is wholly owned by greencastle.

greencastle are running *** star news and up to £25,000 of monthly revenue they keep 100%. iconic get 20% of any monthly revenues in excess of £25,000.

david sefton has got a convertible loan notes in iconic worth £750,000 as part of the cva settlement.

so your making stuff up when if you had read the prospectus perhaps you wouldn’t have lost so much cash.

Newuncle

Tintra still has some around £240,000 of convertible loan notes owned by Tintra Trust I believe which can be swapped into shares at a 10 pence price. So 2.4 million shares at 140 pence profit for RS if deal proceeds. I think 5hese are the two be issued shares.