Member Info for Theanalyzer

The $2 million, assuming it arrives will be used to pay down some of the creditors that have funded Supply’s losses.

Will it be enough to get auditors in a position to sign off last year’s accounts, possibly although personally I think Supply will need offer of an additional financing facility to take them forward 12 months from date of approval of accounts as well.

Looks like Nuburu will now be able to pay Supply plus fund purchase of 3% of Tekne. That will be $3.8 million. A couple of million towards Tekne cash funding requirement will still leave around $5 million.

Positive news for Nuburu and Supply but less good for Nuburu shareholders who will be heavily diluted again at relatively low price.

Given AZ is Executive Chairman of Nuburu he knows how much cash it has and whether it had paid Supply before close of business in USA or not so the absence of funding update is very poor form and he should have provided an update to Supply for an RNS.

Perhaps AZ on behalf of Nuburu is trying to rescheduling payments again or perhaps the Supply Board are taking advice from insolvency experts.

Nuburu hasn’t issued any previous filings on Supply payments not even when payment schedules are rearranged to delay payment..

The reality is Nuburu is strapped for cash. It only has $111,000 at end of June.

It hasn’t announced the purchased of the 3% of Tekne for $1.8 million either.

No cash yet from Nuburu, perhaps later today.

No doubt TwoGoodToDie will try his best to spin this as good news. LOL

Nuburu intention to pay is in Supply’s last funding RNS.

Will Nuburu pay up or will it be another apology on Monday?

I see that Nuburu now has 3 draft S1s waiting for SEC approval before it can dump over 150 million new shares onto the market.

I can still remember when TwoGoodToDie was telling people any Nuburu dilution would be slow and gradual.

Strong revenue growth at high margins which were maintained year on year

ProBiotix should hit breakeven by end of year if current revenue growth rates continue as £300,000 of revenue would mean additional £150,000 of pre tax profit.

Given number of new revenue opportunities it might be sooner than that.

But

Plenty of cash to reach profitability

The CEOs target by 2028 looks very exciting

Next Nuburu will have to find some new premises because according to last S1 filing they have none at present.

Look at latest S1 and search for properties.

Nuburu job offer

Soon Nuburu might get to double figures of employees up from the 7 last reported in S1 filing.

AI says average laser technician pay in Colorado is $53,960 with entry level pay of $40,000.

The news might promote a small pump for the next dump of shares.

The £4 million is for 25.3% stake.

Tern don’t help themselves by providing no numbers on DA like revenues or revenue growth or profits.

The valuation is I suspect largely based on what investor paid last year to buy in.

Also sold a chunk last year for small money.

The ongoing 10.5% expense coupled with fund raises at big discounts to net assets continues to badly erode shareholder value.

As for the bull case that DA is worth hundreds of millions surprisingly no one has bid for whole of Tern for fraction of that amount and Directors consider that fair value is only £4 million.

No transparency on DA, FRVRS or Talking Medicines financial performance hinders performance.

Tern should see if there is a U.K. technology fund is interested in buying them out and return cash to shareholders

Stormharbour Notes

Fintech Bank

Famous Italian Cheese deal

First U.K. IM

I suspect the independent directors will be pressing for a quick resolution given Amy Benning will be struggling to keep creditors from pulling the plug and a nearby date means she can say just gives a bit more time.

The fact that Nuburu didn’t even pay even $100,000 on account shows how cash strapped it is.

TwoGoodToDie

Yeah because AZ always delivers on his promises.

Not even a dog ate my homework excuse given this time.

Second payment is in October as I said.

Still no proper business update.

Your like a victim of domestic abuse you always give AZ another chance.

Nuburu fails to pay on time yet again.

Extends final payment deadline to October.

Gives new promise of when cash will arrive.

I get that a company can use shares to grow by successful acquisitions. Melrose being a recent example.

I have number of issues with Nuburu though.

First AZ’s business track record is poor as evidenced by RTOP and SYME failures, he over promises and undelivers on a large scale.

Next he is trying to rescue the old RTOP business which failed and specialised in operational risk in financial institutions and now he claims its has synergies with in the def3nse industry. It doesn’t, it’s simply AZ trying to prove the failed model could work if it has access to more cash and get Nuburu to pay richly for it.

He is trying to the same with SYME another failed business model which he said started back in 2016/17 which regular posters here know all about. You say that no institution will deal with an insolvent business but then ignore the fact that loss making SYME itself has net liabilities and even if all the Nuburu cash arrives and is converted into shares will still have a deficit. Why would any lender lend money via a unproven sub scale loss making platform when the service provider could go bust and it would have to pick up the tab to the do the outsourced processing?

The Nuburu business failed before and without its patents and now only 7 employees I don’t see it as having retained that much know how and thus being able to contribute much to Tekne beyond cash funding via dilutive share issues.

Nuburu starts life as effective shell with a balance deficit which means huge dilution just to fix that issue before it even buys Tekne.

Yes defense manufacturing is a hot sector at present but even if AZ can double or treble value of the business, I think the issues mentioned above will mean that current Nuburu shareholders simply won’t benefit in terms of share price appreciation.

TwoGoodToDie

Issuing expensive loans and paying them off with shares is dilutive in both short and also the long term. One of the loans has a 44% interest rate.

Of course it reduces the net debt of Nuburu and reduces shareholders deficit and allows the company to trade on, the bottom end of the London is full of such poor quality companies.

There are now 100 million shares in issue versus 20 million at start of year and AZ has just got started.

Over 56 million new shares will be issuable in due course on just these S1 filings, plus there is majority of Silverback debt for equity to pay off.

Of course companies use share issues to make acquisitions but a key element to a successful acquisition is not over paying.

AZ has a tendency to overvalue companies look at SYME and RTOP valuations and is buying from DW who has a similar tendency if you look at Zamaz float and he was made to restate Eight’s accounts from a profit to a massive loss when he overvalued bonds due from AZ company.

AZ is also supposed to be injected $5.15 million to buy a piece of Supply which is above its last quoted market capitalisation using Nuburu money.

Like all investors, I have my winners and losers but I haven’t lost a penny on Supply or RTOP simply because I never invested.

TwoGoodToDie

Either you haven’t read the S1 filings or you don’t understand them.

First they are draft and subject to SEC approval.

Second Nuburu hasn’t yet purchased 3% of Tekne this is expected to occur in September 2025 as it clearly states.

Third dilution isn’t a risk, it’s a nailed on certainty for Nuburu.

Without knowing why the previous Golden Power was rejected it’s a real unknown if the renewed application will be successful.

If Nuburu can manage to improve its financial position by issuing more shares to pay down liabilities and reduce the deficit on shareholders funds I think that should help if the concern was over enlarged group financial strength. However if it’s due to a key Italian defense company being controlled by US group then I don’t see how they will resolve that issue with current proposed structure.