Member Info for Theanalyzer

Aquas when you look at cashflow statement VRS used over £3 million in funding operating losses and caper in 6 months. The Lanstead facility is winding down and cash being raised is much lower than expected due to low share price and the IUk loan has about £1.6 million left. VRS will soon need to place before year end accounts are published to stave off a material uncertainty warning from the auditors unless they win another big order in my opinion.

AJ Bell is on high rating but sector has strong growth potential

You need scale to invest in latest technology and operate at a profit which creates some barriers to entry

It’s still easier for big players eg Abrdn and M&G, Lloyds Bank to buy an established solution than build from scratch.

AJ Bell is looking to enter adjacent markets which is also smart.

Whilst they are growing rapidly I am content to hold

nefabeta01 Tern net assets are recorded at estimated fair market value not historical cost. Fair market is based on best estimate of a sale between willing buyer and willing seller. I know it doesn’t take off majority premium or discounts but the small uplift to DA value from Tern’s fair value paid by new investor suggests to me that Tern aren’t undervaluing DA by 200% as Rhodi and you are assuming.

Rhodi

My take is that DA’s capital structure need amendment because it had become overly complex and Tern and 2 other investors were financing the business via CLN’s but management were still entitled to 25% of the business. It appears that staff have been given a new share option scheme to partly replace their lost employee B and C share entitlement value.

DA would need audited IFRS financial statements and a 10% public float in its shares before it could list on OTC markets and it has neither so DA isn’t going to be listed on OTC any time soon.

Tern might go for an OTC listing as meets the above requirements but that won’t change much because OTC liquidity in small AIM stocks with existing OTC quotes is tiny.

Tern still trades at almost twice fair market value as determined by management and signed off by its auditors so isn’t the bargain you think.

Rhodi.

You have called this one completely wrong. You were banging on about how much DA was worth saying tens or even hundreds of millions and based on what a clued up tech company is paying today its worth under $50 million.

Now you are coming up with usual nonsense about market maker games reducing the share price, buys being shown as sells as to why share price dropped so much.

The market price tells the story and sadly shareholders have lost a quarter of their money in a day.

Tern may recover in value but I think the myths of huge value in Tern not reflected in its current share price have been dispelled today.

Rhodi the ramper now exposed and it’s an ugly sight.

DA as a company valued at under $40 million by a new investor.

About 7% uplift to previous Tern fair value after new investment by Tern not the 250% assumed within prior share price of Tern which claimed was far too low.

Tern remains over valued.

212 is a cheap service for a reason

Why don’t bulls update expected news

Highlighting AGM as being completed isn’t exactly a huge milestone for any company.

Here are a few suggested new news Items

1 £2 million Mercator loan extension update
2 Payment of November loan repayment cash or share issue update
3 2021 financial statements timing

Indigo on first conversion, the loan repayment was converted to a convertible loan on 1 November but the conversion into shares only occurred on 18 November. As others have pointed out once Mercator has a convertible loan, it can sell on a forward settlement basis because it knows it can deliver the shares as it can trigger conversion into shares at any time.

New product launch with forecast revenue of £1 million pa SOH finally gets brave and puts out revenue forecast for product launch. This one product represents a hefty increase in revenue by itself.

The formation of an Indian company platform was another positive for me.

Napalm as you say the shares issued just are for tranche 1 and 2 of the first months repayment because number of shares issues agrees to the RNS amounts.

11 more repayments of £458,000 to be made.

Iguana. Sorry but your wrong.

You may not have a realised loss but you do have an unrealised loss.

Yes SYME might recover but you have lost money at the present time.

The old nonsense that shorting and negative comments should be banned comes up again.

I don’t short and even I did I would avoid stocks like SYME which can spike higher on a single RNS.

Shorters don’t go after quality companies because the downside risk is too big. It’s a common Standard List (like SYME) and AIM comment to blame share price falls on mythical shorters

There isn’t much short interest in SYME because market cap is now too low and as noted above it can easily spike.

SYME’s issues are largely down to poor execution by management. They should have executed a placing when shares were buoyant rather go down convertible loan note route.

Also just like any market there are buyers who like share at current and sellers who don’t and the same with comments on the boards.

It’s all down to IM, if SYME gets over the line share price will rocket IMO.

Strong RNS this am
Revenue up, profits up
Confident enough to return to paying a dividend
Could attract some further interest now that it is back to paying a dividend

For me RNS was clear that good progress continues to be made across a number of sectors.

2022 looks to be an exciting year

I suspect some people who expected instant sales updates will be disappointed by having to wait until interim results for further news.

The last partial conversion was on 1 November so next months loan repayment of £458,000 will fall due in a few days.

I think SYME are likely to be request to repay via issue of another chunk of shares in continued absence of IM.

Don’t expect a conversion notice RNS straightaway- the last one arrived two weeks after conversion was triggered.

Conversion price is 85% of of lowest 10 day VWAP and Mercator will be selling. Dilution will be larger than last time because of continued share price fall. Conversion price was 0.204 for first £150,000 and 0.135 for second £300,000.

Mercator would still be in the money on last £300,000 even at today’s selling price.

SYME also owe investors an RNS about whether or not SYME obtained extra £2 million from Mercator.

Thank you AZ and SYME

Luckily for him he will still be financially secure due to his high paid job but others who follow his lead won’t.

Lo123 only £5 million has been advanced so far. Additional £2 million not yet announced as far as I can see.

Mick 2 when warrants are converted by Mercator they will be sold as well. These funds never hold the shares issued under such loans.

Around 260 million shares to be absorbed by the market (including warrants), small in context of current issued share capital.

Give it a week or two and next and months conversion will occur.

The cash burn rate is clearly quite high at present but the.current share price is reducing dilution impact.

Let’s see how market reacts.