Member Info for Theanalyzer

SYME state that U.K. has had concept of security interest for some time and note that it hasn’t helped SYME raise finance in U.K. historically.

Time will tell but I suspect that not much will change for SYME.

Ellltelinv

Many of the detractors didn’t get lucky in identifying that SYME’s share price would drop. There were so many red flags such as

IPO £220 million goodwill accounting error write off
The AZ share sales to loan companies
Share suspension due to admin error
DW selling all his shares and quitting
The complex loan secured on SYME shares between a DW and AZ company
AZ include in pipeline of revenues companies that didn’t qualify as clients
JC short stint as Chairman
FRC stating they don’t think True Sales works as described by SYME
FRC forcing SYME to disclose that most of 2020 revenue was originated by related party
The huge due diligence fees paid to Parzival and a Panamanian entity for Tradeflow
Non disclosure of Tradeflow funds under management to hide how small it is
Numerous initiatives like CB and FB to name but two which never come to fruition

Yes I guess us detractors just got lucky.

Nobby

If you take into account the Venus capital raises, SYME doesn’t run of money in April 2023 but by April 2023 SYME won’t have 12 months cash burn left

What a weak trading update.

No figures for revenue or cash at year end for a FinTech business with a high cash burn.

Nothing about Tradeflow discussions progress or timetable.

No details about what Tradeflow funds under management are. There are up by 35% but six months Tradeflow revenue was only £209,000.

Lots of usual waffle about ongoing discussions with numerous parties.

Magpies1862
The Venus and Open Offer warrants are 0.065 pence per share so they are currently out of the money so less likely to be exercised but would raise around £5.2 million if exercised.. The Mercator warrants have an even higher exercise price.

You are right not much has changed.

SYME still losing money £10 of cost for every pound of revenue since RTO.

A $10 million of IM monetisation generating $300,000 of revenue before related costs less than 1 months cash burn isn’t that de re risked.

HeresHopin

RRR also had very similar placing terms and a well known website Share Prophets proved that RRR issue was to actually Bergen Asset Management via a front LLC.

Isn’t Tintra already OTC listed as TNTAF?

The NFTs in the case are backed by the inventory with haircuts to market value of that inventory which is also insured so they should maintain their value better than the bored ape NFTs and will be repaid in cash when inventory is sold.

Unlike most crypto yield plays this will be backed by an asset with a yield which may also be of interest to crypto community.

The NFT is like a blockchain loan note in essence.

One argument for new investor paying 1158 per share is that due to low free float that it would be hard to build such a stake of 685,594 shares in Tintra buying in open market because even a few thousand shares changes the price.

Whilst the Dragons Den make competing offers I have yet to see one paying 1158 pence and other getting shares for an 8% discount to VWAP plus a further 5% discount on initial cash received versus loan.

The next month should be interesting.

SYME have a CFO and according to LinkedIn they already have a Group Financial Controller in post.

So it looks like a new role to me.

Aidan31

The Boxhill and St James House operations were all sub scale or loss making and they were why the group was technically insolvent before RS arrival which is why RS has sold or closed them. Other than the listed entity all the previous subsidiaries have been sold or wound up. I don’t think you can say Tintra as a group was successful when it was called Boxhill or St James House as a success.

Tintra is effectively a start up intending to become an AI powered Fintech bank to use AI to enable KYC to be better performed in emerging economies.

RS is a much better operator than previous CEOs and has transformed the prospects for Tintra.

If $3.15 million worth of shares are issued that represents a chunky amount of current market cap which will be up for sale.

That would be 5 th largest holding per SimplyWallStreet so hardly a tiny amount.

I wonder how happy the Gulf investor is at present paying 11.48 versus current share price.

Under this CLN, the initial subscription price is amended to the actual transaction price based on 5 day VWAP less 8% discount which given current share price performance will be way lower than headline price of 504 pence.

The lender will sell shares in Tintra on a forward settlement basis and then notify Tintra of a loan conversion so that it can deliver the shares in settlement. Thus CLN holder is not shorting or forward selling.

Whilst the loan amount is fixed, the number of shares that are needed to be issued to repay each loan tranche isn’t. The continued selling pressure generated by a CLN often drops the share price on each tranche of the loan repayment and therefore more shares are are sold next tranche. Iconic went from 1 billion to over 30 billion shares in a year due to heavy use of CLNs

Shearer is ok because he also has loads of share options at 10 pence per share.

Bespoke
The facility also provides shares worth 105% of the cash received so the effective discount is in effect higher than 8% or 6% mentioned.

I wonder how sore the Gulf investor is feeling after the 2nd RNS announcement.

Nice dividend increase and solid results.

A lot depends on how new ventures pan out and whether they can scale and become profitable to justify increased costs.

Articles state that TradeLens closed because other major players refused to join if intellectual property wasn’t jointly owned.

If giants like IBM and Maersk have given up it shows the scale of the challenge in building a blockchain solution that will be widely adopted.

Building a block chain for SMEs will I think be an even bigger challenge.

Peakhope
The Crypto market cap at present is around £840 billion at present down from its peak of about £3 trillion. So whilst long termers may still be in profit many others have lost a fortune.

Normal companies are unlikely to want to receive payment in volatile Crypto currencies so it’s more likely that they will use fiat as opposed to algorithmic backed stable coins.

VET does have a stable coin backed by US $ deposits so any IM will most probably use this route.

Given bankruptcy of FTX, Blockfi and current crypto market news, I suspect it will be a tougher sell to get traditional companies to enter crypto space at present time.

I note that Fidelity are now providing retail access to Crypto so sector is becoming more accepted.

The quality of the business isn’t reflected in the share price in my opinion.

I get the fears over energy costs to make tiles and recession concerns but Topps management do seem to be navigating those issues pretty well so far. They have shrunk estate but increased sales and expanded into new sectors.

A P/E of under 9 times historic earnings for a growing, profitable, dividend paying company with quality management does feel too low.

I suspect Steve Moore who is writing for TW ( and isn’t as sharp) will focus on headline stator metrics which don’t look as strong and ignore the 16% dividend hike which is a strong vote of confidence. It equates to an annualised yield of 9% at current share price.

Barnetpeter
Arb has been making mining losses for months and is being forced to sell inventory of bit coin to pay off margin calls on debt.

Arb is dead in the water given current Crypto issues with FTX.