Member Info for Theanalyzer

NOZ85
I think SYME’s issue is not asset dercognition under IFRS9 which you discuss but whether it’s clients are permitted to recognise revenue under IFRS 15 bill and hold rules.

Ns 20
Under IFRS 15 ordinarily you can only recognise revenue on goods after the customer has taken delivery of the goods. There are specific rules to be met if you have made the sale but customer requests that you as seller will hold the goods for some period. These are the rules I am referring to.

The test is not asset de recognised but rather can a sale be recognised.

Whilst the bulls get excited perhaps one of them can answer the question how if SYME customers never deliver the stock to the inventory companies and retain the right to market and sell that stock sold to to their existing clients that meets the criteria under IFRS 15 B81 a to d for revenue recognition?

AZ supposed master class kept looking and quoting IFRS 9 which is relevant to banks trying to derecognise loans not to IFRS 15 which the client companies need to use in order to recognise a sale in the first instance.

I doubt whether I will get a proper response.

The trading record and cash burn of this company since IPO has been dire.

At interims to 30 June it had £8 million of net current assets and losses were £35 million in six months. Even worse it burned £75 million of cash as negative working capital unwound leaving it with cash of £32 million.

The current economic scenario isn’t great.

No wonder there are no trade buyers.

Bend over

TFC remains sub scale and loss making because it doesn’t have enough funds under management yet. It’s business model doesn’t claim no debt under IFRS either. It works on a different basis as it only buys commodities which are easily valued and can be sold to multiple buyers if the existing known buyer defaults. That is a very different proposed model to SYME’s of buying all sorts of different inventory. It may be making 7% returns but most of this goes to investors who provide the funding and the annual management fee earned by TFC was a tiny £209,000 for six months and the operating loss was £584,000.

Funding SYME have raised an utterly trivial $10 million, which won’t generate enough revenue to make SYME profitable.

Just because IM has been announced doesn’t mean the FRC now agree that it complies with IFRS rules.

Venus who have already dumped 4.7 billion shares in latest round of funding and billions more before that.

I get that your in love with SYME as a share but so far my scepticism has been more accurate that your optimism.

BouFou
High profile companies invested in like SYME, LOL

Like Venus Capital a firm with no website and no named investments other than SYME or Omni who are not major players either..

The key risks that remain include
Failure to raise meaningful levels of financial backing to support IM
Proof that IM passes the FRC challenge under IFRS
Proof that IM actually makes the investment returns the investors expect which won’t be known for some time
The only IM to date is tiny punt of $1 million hardly a validation that the business model can generate positive cash flow for shareholders

So having an AGM which occurs every year and a Chairman resigning are achievements and progress. LOL

The reality is that your list is out of date and you are too lazy to update it.

News expected soon by me

Clarity on future of Tradeflow business
Launch of VeChain platform and $8.5 million of funding by Dec 2022
Year end accounts

Hughez87
I see your still spamming your hopelessly out of date list of expected news.

Why is 5 TFC takeover expected news when it occurred on 1 July 2021 but potential disposal of TFC isn’t?

Why is number AGM which happens every year a share price changing event?

Why is 24, DW to step down a share price positive? He resigned over a year ago.

Back to ramping school for you.

In line with Prospectus statement so not a surprise but a positive for SYME which now has only conventional debt in place and no death spiral risk at present time.

Castle
AZ and the 2 Tradeflow Directors own shares.

I make that 3 Directors.

Rosie
You are wrong,

TheVenus optional facility has been full issued in secondary admission as set out in Prospectus so there is no death spiral.

A closed period is defined as period 30 days before interim or year end results are announced. So SYME aren’t in a closed period but often used as “reason” for bulls to suggest that important news will land soon when no Directors are buying.

Other than AZ and Tradeflow Directors, none of the SYME Directors or PDMRs own any shares. The Tradeflow Directors of course were given the SME shares.

Hardly a sign of confidence.

Castle

You will find that Tintra has been raising cash at massive premiums to current share price.

It intends to become a FinTech bank using artificial intelligence to offer banking services to people who struggle to get compliance approvals from major banks in developing economies.

Has some impressive non execs as Directors.

Castle

Tintra TNT
Revenue last year £350,000
Market cap £41 million

So what is your point?

SL100

Although Toople was on the Main Market it had a Standard as opposed to a Premium Listing.

Standard Listed companies operate to lower levels of protection and unlike AIM there is no NOMAD.

The bottom end of the Standard Lost can be as bad as the bottom of AIM.

Ellltelinv

I think the Mercator loan has been repaid in full as per SYME intentions as set out in the Prospectus.

SYME will have raised around £2 million via Venus share issue, repayment of Mercator and recent bank loan so as farI can see which puts them in a stronger financial position.

The overall gearing with Tradeflow and new SYME loan remains high but isn’t repayable in near term.

Elllltel

Given all Eight Capital did was to swap Dominic White controlled IWEP vendor loan notes into shares in Eight such that he has a 90% shareholding in Eight how does this impact SYME?

Eight still owns a bond due from 1AF2 which is secured over a charge over SYME shares as far as I can see.

It jus a paper transaction between Dominic White controlled entities.

Despite having to write down stake in LEBC and write off stake in another broker group still achieved strong growth in results because of increases elsewhere in portfolio.

Nobby

PWhite post is complete and utter nonsense.

If SYME price goes up then Venus would make more money.

His logic is back to front. Death Spirals cause lower prices as the seller sells shares at every cheaper prices. If there are lots of buyers tending to push price up then it is easier to sell.

Trigger
It appears they have already sold 4.7 billion shares since Prospectus was published which I wouldn’t interpret as a great sign of confidence.

Still they will get another 8.5 billion on Monday if Mercator debt is repaid.