Member Info for Theanalyzer

Ashden
What makes you think I am invested in SYME, just because I post on that chat board?

I don’t rate SYME as a share as most people who read my posts would be able to spot.

It is clear that some punters in Iconic don’t understand the risks and you seem to be one of them.

The FRC remit is to look at U.K. listed companies accounts and the accounting treatment they adopt for their business in those accounts. It doesn’t matter which country the transaction took place it must comply with the IFRS standards.

Secondly Italian IFRS is same as U.K. IFRS so Italian law or Italian equivalent of the FRC is a red herring from a SYME plc perspective.

I expect the FRC to examine the first IM transaction that occurred if SYME keep pushing their true sale and no debt approach.

Brass

There was an independent accounting advice from one of the top accounting firms which the FRC say they have seen but don’t agree with the conclusion reached see page 66 of the 2021 annual report.

EHGOSF sell because despite their name the fund is really a credit provider not an equity funder.

Generally these funds try to hold only a small position and then sell it quickly.

The worst case scenario as happened with Iconic is that have lent money but can’t sell shares to recover the cash due to suspension.

That is why EHGOSF rescued Iconic to get cash back.

OTT helped and got a bonus of £365,000 for getting Iconic out of administration and now charge £50,000 a month for their services.

Yes there could be RTO but how many more shares will be in issue by then?

Poor investor
Funding isn’t the same as cash.

We can agree that funding only arises if EHGOSF sells shares.

At present the facility remaining is more than market cap so if utilised it could halve share price unless there is reason for Iconic’s market cap to increase from current level.

As an example If investors think that Iconic’s value as a shell should be £4 million then if share count doubles investors won’t be any better off.

For me Iconic is too risky but goog luck.

Poor investor
I know that an RTO is going to occur as the RNS state that.

However, why would a business owner pay a huge amount to reverse into a shell with relative to its market cap a massive death spiral in place?

Is your theory they might pay double or triple market cap to get RTO done?

I see you ducked my question on why you think Iconic has £2.6 million in cash.

Fint69

The only problem with your Amazon example and their low share price post the dot com boom and bust is that Amazon was growing its sales volumes throughout that period. It was gaining new customers every month.

SYME isn’t in that position as revenues are fairly static even with Tradeflow.

Has Phase 2 of VeChain actually happened yet? I may have missed the announcement.

Poor investor
Why do you think company has £2.6 million in the bank?

Yes, it has a £2.7 million convertible loan note facility but that isn’t the same as cash.

Iconic has almost no assets, £1.5 million of convertible debts on balance sheet and it’s paying OTT £50,000 a month.

Why is this such a great share?

Passiton

OTT who provide the BOD got a £365,000 fee for saving the company plus a fee of £50,000 a month.

EGHOST have now recovered £700,000 of cash plus made profits on selling shares.

I can’t see what new shareholders have got apart from large losses.

Passiton

Iconic is valued at £2 million at present.

Iconic is a shell with gross assets of £2 at 30 June 2022 and liabilities of more than £1.5 million.

OTT is billing £50,000 a month or £600,000 a year.

How is that suddenly go to become worth £20 million?

Passiton

Even if there is a 1,000 for 1 consolidation it won’t mean an end to dilution whilst you have two convertible loan notes on the balance sheet and a £2.3 million facility running.

Your consolidated shares will still get diluted.

Roy3
The market cap won’t become zero because they are always traders who want to buy shares.

The only restriction on selling shares is nominal value of shares which is much lower.

Even then Iconic can then reorganise share capital to reset nominal value of shares when it issues Prospectus.

Poor investor

The RNS states as I said Iconic now has secured debts of £1.5 million.

At 30 June 2022 iconic had gross assets of £2 and net liabilities of £8.9 million. So even after loan write downs mentioned in RNS it was still in a net liability position.

You say an RTO is likely , I agree but why you think any business will pay a fortune to reverse into Iconic I don’t know.

Poor investor

Iconic still owes £1.5 million on its balance sheet plus it hasn’t actually raised £3 million.

Last time Iconic was crushed by the facility and it looks like the same is happening again.

EHGOSF and OTT will be ok but other shareholders will take a beating in my view.

I see punters are busy playing TW the man rather than checking out his allegations.

Why hasn’t RS or Tintra responded and disproved his points?

Based on your views it shouldn’t be that hard or perhaps TW is onto something?

C2H5OH

Tintra Acquisitions Limited accounts for the period to 31 March 2022 are filed at Companies House and are publically available and show no holding in Tintra Plc at 31 March 2022.

Even as per RNS as at 21 December 2022 Tintra Plc was stating that TAL owned 250,000 shares in Tintra Plc

Perhaps do some research before coming up with inaccurate and bogus theories.

C2HSOH

Even after the TAL to TTT transfer still held 250,000 shares and Tintra Acquisitions Limited has no shares at all in a Tintra Plc.

So that isn’t the answer.

DarkHero
You don’t have to explain yourself to me or TW but you can answer the question I asked can you?

Aidan31 fair enough answer. Hope it goes well for you.

Aidan31

Same challenge for you why do think that Tintra Acquisitions accounts at Companies Houseshow no investment in Tintra plc?