Member Info for Theanalyzer

After AGM approvals are passed SYME issues yet more shares, warrants and takes up loan with headline interest rate of 10%.

To pay ongoing losses and the outstanding Mercator death spiral which has an effective interest rate of 47%!

Meanwhile the dwindling band of faithful sing the slightly modified words of Britney Spears “AZ give me a sign, dilute me one last time”

Strangemartian
I don’t know the inner workings but I can read the IFRS 15 standard and make the valid observation that the public explanations given by SYME on the business model fail the requirements to be able to book revenue under consignment sales requirements namely that the SYME customers keep on selling the consignment stock to usual customers.

In any case, the FRC the U.K. accounting and auditing regulator don’t consider the true sale and no debt claim is valid and they have seen the IFRS accounting advice and had dialogue with SYME and weren’t persuaded. The FRC also made SYME publish their view.

You keep believing SYME, it worked out so far hasn’t it?

Getting over the legal repurchase obligation and achieving true sale is not that difficult as the SYME client will typically have an economic compulsion to repurchase the stock as opposed to a legal obligation due to cash retention from clients and also discount to normal purchase price. Economic compulsion is ignored when assessing accounting implications.

The issue I see to True Sale is getting over the line concerns challenge of non delivery of stock and navigating the specific rules that apply to consignment stock and in particular requirement that consignment stock should be held for stock companies benefit only and not be available for sale to other client customers. This is completely at odds with SYME proposed operating methodology. SYME stock companies only take delivery if SYME’s clients go bust otherwise they never take the goods.

IFRS rules govern accounting in over 140 countries not local laws and US GAAP is very similar.

SYME’s model is a non starter in my view.

I note that SYME weren’t able to persuade the FRC that their solution worked even on a theoretical basis - surely if solution was possible they would have drafted the appropriate contractual terms after all this time which they could show the FRC?

Napalm012
Peakhope has probably never had to interact with the FRC on behalf of clients. I have and the people they employ to look at accounting judgements and interpretation of accounting standards are the top of their game.

The FRC clearly don’t believe the claims being made by AZ are credible and weren’t persuaded by the accounting advice letter that SYME showed them either.

For me it’s a massive red flag over the supposed USP of the business model.

Trevor Brooking
The FRC the UL leading regulator on accounting matters like all regulatory bodies don’t make a public traded company state matters in their annual report unless there are pretty confident in their view.

The FRC have also seen the relevant accounting advice.

I know who my monies on and it ain’t SYME who have a track record of non delivery

You no doubt will still believe AZ

Peak

Peakhope

The FRC comments are in the annual report under the Audit Committee report section.

Peakhope
US GAAP or GAAP as it is referred to in US is very similar to the IFRS 15 accounting standard.

So bulls can say it’s a slam dunk to get approval.

Me if the FRC the U.K. accounting regulator for Companies and Auditors say they don’t think it works, I wouldn’t get too excited about US prospects just yet.

The loan shares repurchase causing a spike in share price myth being rolled out yet again.

I suspect that loan agreement may be extended or net settled and AX will simply walk away and lenders having sold all the shares will terminate their deals.

In any case with open offer shortly there isn’t going to be a shortage of shares

I suspect that publication of Peer Reviewed paper and recent joint venture with Firmenich are connected.

Firmenich will now fund the next stage of development based on science in the paper.

Opti is becoming a promising investment

Trade flow vendors were highly paid for their sub scale and currently loss making business.

They got £4 million in cash plus £3.1 million in shares as initial consideration plus a further £4.5 million in deferred consideration for a business with annual turnover last year of £600,000.

They also get their chunky salaries of $240,000 and £30,000 each paid for 2022 by shareholders.

Nice work

Peakhope
You are far too nice a person and too forgiving of AZ
If a public company can’t ensure that it keeps it public records up to date, how shambolic do you think it is behind the scenes?
This is a company with a supposed transformative FinTech platform that can’t even update its own website on a timely basis!

Peakhope
What about the two historic proofs of concept that AZ talked about historically?

For some reasons AZ never publishes details of these, I suspect it is because they didn’t work, if they did why didn’t funders take up the next version.

Oh well less than 3 months to interim results to see how much more shareholder. cash AZ and team have ****ed away.

Lex
SYME still haven’t managed to get pictures and cvs of new Chairman and new NED on their website weeks after their initial announcement nor are they listed as Directors at Companies House.

Just more evidence of SYME’s inability to execute on really simple basic stuff.

There are still quite a lot of uncertainties about whether the complex deal will proceed reflected in material uncertainty over going concern so I have sold my small punt of 10,000 shares at a tasty 88% profit after two years.

Good luck to longer term holders, hopefully you will be rewarded.

Adyan9200
On your average cost have you apportioned the relevant amount of your base cost to Probiotix?

The dividend in specie reduces your base cost in Opti.

Let the fun begin…

Elrico your grey matter is good. DSM and Fimenich announced $21 billion merger in May 2022 so Opti is now partnering with a massive heavyweight to launch products.

Hughez87
You should see how the market deals with share issue that are coming to repay Mercator the cash they are due first before you start popping the champagne.

The interims due in 3 months should provide a good update on cash burn and business progress.

Hughez87

DW left in July 2021 why is this still relevant?

Out of date like I suspect almost all of the items on the list

Lords of lolly
Your exactly right on the deferred tax asset point