Member Info for Theanalyzer

Extrader I agree that we will get initial view on valuation in year end accounts and that final actual consideration could be much lower than initial consideration.

However, for purposes of 2021 accounts to extent that value ascribed to contingent consideration is reduced so will the goodwill associated with the purchase.

Anyway we will get a first sight of valuation in under 2 months time.

Strangemartian. Tradeflow was valued at up to £31 million but SYME still owe £24 million in contingent consideration payable in shares or cash, so your logic at Tradeflow being valued at current share price as some type of support is simply wrong. I suspect Tradeflow whilst generating revenue is currently sub scale and loss making. If its not why hasn’t AZ shouted about its success from the rooftops? Sadly SYME will drift lower until AZ provides greater transparency on financial position.

TW used the F word on both CHLL and SYME and both now languish at fraction of previous prices despite massive support from PIs who are nursing big losses. Was he right or just lucky in using F word on these two Standard Listed companies?

I suspect Jim won’t take on any new roles for a bit but worth watching for. I suspect he is feeling a bit embarrassed by the SYME episode because it doesn’t reflect that well on him whatever view you take. Either he got taken in by a con or he didn’t think about his work commitments properly and has left SYME in a difficult position by leaving with immediate effect.

I am sure HSBC U.K. will have a challenge sieving it’s records for all Russians they have lent money to or assets they manage but It’s a large group and Jim’s job is to ask questions about how they are tackling issue in U.K. bank not doing the legwork.

TommyMech’s view isn’t supported by a quick check of facts.

Jim Coyle is a NED at HSBC U.K. and Marks and Spencer (operationally run by HSBC U.K.) which lend to U.K.individuals and business with no direct lending to Russian entities. HSBC Russia is owned by Group not U.K. subsidiary. Yes there will some knock effects to U.K. borrowers but that is for exec Directors to sort out.

He is also on Board of Scottish Water and U.K. investment trust with again no Russian direct impacts.

Jim left because SYME he does not want to be associated with a failing business imho. The too busy reason is an acceptable fig leaf rationale for both sides to put out. As Non Exec Jim’s workload wouldn’t be increased by IM deals finally appearing. I suspect he considered revenue warning, share price declines, the need for a strategic review, the major capital refinancing that is needed plus ensuring that AZ doesn’t go round saying ready to fly to investors when clearly SYME isn’t and thought the role simply wasn’t worth carrying on with.

So Jim stayed just over 4 months.

I don’t buy the he will be too busy excuse.

Quitting with no replacement.is a bad sign and says to me that Jim couldn’t wait to get out.

Ususal ramptastic announcement about IM sales but as usual no names, dates or figures.

A very bad sign.

Some strong positive messages around future growth prospects across the business and benefits of operational gearing.

Digitising all aspects of their services isn’t available to many of the smaller operators so will give FB a competitive edge over their rivals.

Sadly for investors new 52 week low just hit.

Someone just bought £20k worth of shares so there are still buyers willing to put reasonable chunks of cash into SYME

Guitarman. The Jan loan repayment was converted to a CLN on 2 Feb so unless IM appears in next day or so, the Feb loan repayment of £678,000 will be converted into CLN to be sold in March at sub 0.1 pence price plus the remaining £178,000 left from Jan conversion. So that is close to a billion new shares or golden tickets for SYME fans to buy.

Still IM could land at any time but until it does the share price will just drift lower.

Urban

The Feb CLN repayment conversion price is going to be under 0.09 pence so you could see price close to that next month in continued absence of IM news.

The CLNs convert at Mercator not SYME’s request so partial conversion is probably more due to Mercator inability to sell all the shares as opposed to imminent cash. The first tranche was also a partial conversion.

I expect to see further chunky sells if SYME price stays over conversion price.

So Jan loan repayment being made by CLN but still around 170 million shares to sell which cost 0.1 pence per share.

Feb loan repayment due in a few days time, if converted into CLN conversion price will start with 0.08 pence.

Grim

Someone is very keen given wider market backdrop with Ukraine and recent SYME share price weakness.

Mick2

None sense The FTSE 100 is down 1% and it didn’t drop 16% yesterday.

Every day more holders are starting to realise that SYME share price is only going one way when you have no IM news and a guaranteed seller in Mercator.

SYME is getting a proper beasting today and todays VWAP may well set the Feb conversion price.

The Golden Tickets just keep getting cheaper every week..

Guitarman No I don’t have a short position because of huge downside risk in shorts.

Long only investor with portfolio in range of stocks both large and small. SYME could become huge which is why I have studied the company. Not willing to invest yet because model not yet proven. Plenty of time to invest if model is proven with far less risk.

mick2 All investments looking to the future which involve assumptions or guesses.

April will reveal scale of Tradeflow business and prospects and provide an update on £31 million acquisition price.

There is no doubt that Trade Finance sector is hot at present. DP World, SAP / Taulia deal and launch of Eliant all demonstrate that fact.

SYME being added to list of financing options on DP world is clearly a positive.

The elephant in the room however is that Tradeflow funds under management remain small and thus it is constrained about volume of business it can transact. It’s the same with ICC and Baltic Exchange deals.

Perhaps Tradeflow entering into these deals will enhance its credibility with funders and allow to grow funds under management but until that happens these deals are not that transformational financially in my opinion.

Another issue is that if a giant logistics company like DP World have built an online inventory tracking system and allow providers of financiers to plug into that system doesn’t that make is easier for providers of finance who want to lend to SMEs to partner with DP World rather than SYME? Have DP World already built a large element of SYME’s business model and their platform already has financiers plugged in.

SYME Global etc

Further good progress by Tradeflow after the Baltic exchange deal.

It’s enhanced credibility after these two deals should help deal flow and ideally persuade more institutions to invest in the funds.

Meanwhile original SYME business has produced very little.

If AZ doesn’t get cracking on IM I can see SYME Board closing IM business, changing name to Tradeflow Group and then focus solely on Tradeflow operations and maybe even fire AZ.

Cenkos research note shows gross margin of 40% on the product so £5 million of sales would shift company into a profit.

Social media is a great way to launch product relatively cheaply vs normal advertising.