Member Info for Theanalyzer

Kefi is for me now in a small profit on my small holding of just over 1.1 million.

Let’s hope that Harry gets it over the line this time.

The updates suggests it’s get closer.

I doubt assets sales will exceed liabilities so basically it’s a wipe out for shareholders.

The Board have engaged a restructuring firm to solicit assets sales only to try and then issue more shares.

The asset sale is about trying to maximise value for creditors.

TwoGoodToDie

I note that when Nuburu comment on Supply they use 30 September 2024 staff numbers for some reason.

We also know that majority of senior employees have left Supply as the Senior leadership team is now down to just Amy Benning as other 4 have all left.

Nuburu has paid $952,000 since Nuburu deal was signed on 18 March 2025 so they have had some cash.

TwoGoodToDie probably thinks that Supply is paying from all the lucrative IM deals it’s undertaking but hasn’t told anyone about.

Isn’t it more likely it is simply not paying all its bills like most struggling companies?

A technically insolvent company can off stave off administration or liquidation for sometime as The Advantgarde Group managed to do but eventually creditors run out of patience.

Atanasoft

Nuburu also owe $1.7 million in prior financing not paid so $2.7 million was due on or before 31 August.

I suspect we will see a fess up on Monday that not all the cash has been paid.

I wonder what dog ate my homework excuse AZ will come with this time?

I doubt he will fess up that TAG is now in judicial liquidation and debts due to Supply have been written off.

Now 4 months late with 31 December 2024 accounts and no business update since December 2024.or update on state of audit.

Shambolic.

A classic pump RNS allowing flippers to sell and then the dump when £1 million cash raise was notified.

So much for fully funded and the ring fenced cash cited by a number of rampers.

TwoGoodToDie

AZ and you always cite revenue numbers.

The 80% of $7.5 is a lot more than likely net profit from the proposed JV.

I note that historically Supply has operated with negative gross margins. A larger deal probably would operate a positive margins but who knows how much.

Meanwhile Supply continues to be suspended and shareholders kept in the dark about was has been happening for whole of 2025 apart from funding updates.

Poor behaviour by AZ.

$2.7 million now due by 31 August, I doubt they will be paid in full by Nuburu.

TwoGoodToDie

Operational cashflow is negative.

Assuming that Nuburu can find enough buyers for its shares the share price will be crushed by the constant dilution.

TwoGoodToDie

You can’t ignore the $47 million of liabilities they will have to be paid either in cash by issuing shares for cash such as Yorkville S1 or by issuing shares to settle debts like the Silverback Settlement or the S1 filing for CLN holders.

Steve

The analysis you are looking at is simplistic and ignores capital raises as a source of funds which generates cash to pay past incurred losses.

Steve Ward

You’re wrong, an accumulated deficit isn’t debt as a proper AI search will tell you.

The key point is that approximately 2/rds of Nuburu”s deficit has been funded by further share issues and 1/3rd or $47 million currently by creditors and it’s the later balance that represented debt.

Steve

The past losses of $150 million have been reduced by $105 million of equity leaving a deficit at $44.7 million.

Liabilities are $47.2 million.

TwoGoodToDie

I see you have fallen for AZ latest promises.

The word “potential” in terms of additional investors means AZ is covered if nothing happens. Long term shareholder in Supply know how often AZ promises new deals that never turn into anything substantive.

Yesterday you were arguing that It would hard to offload 46 million shares (incidentally Nuburu volume yesterday was 20 million shares) today you saying that Nuburu can raise $40 million to fund Supply IM for Tekne.

As to the defense JV what does Nuburu bring to the party?

It has no premises, no plant and machinery, no inventory, no patents, only 8 employees at 31 March 2025, a mountain of liabilities and very little cash.

Yesterday was all about AZ trying to spin his way out of the failure to obtain approval for his 70% acquisition by buying a 3% stake and a few other promises and saying that he will complete acquisition by Q4.

AZ’s empire gets to stagger on for a bit longer but I don’t see it making external shareholders money.

Nope I was only referring to the latest Indigo announcement.

By the way the Silverback deal can’t unload all its shares at once because it has a 4.99% cap. It also isn’t for just 47 million shares.

In contrast the S1 for the CLNs has multiple parties and the 40.7 million shares was indicative based on 10 July share price. As there are multiple parties more shares can be offloaded at same time.

Volume so far today 15 million shares.

Now that AZ has announced a purchased 3% of Tekne we will we able to see what sort of volume goes through today.

Nuburu volumes were 18.9 million and 75 .1 million on two days in last week so selling $225,000 worth shouldn’t be an issue.

TwoGoodToDie

I see you largely agree with my previous comments.

In terms of Indigo not be able to sell its position once the shares are registered, the latest note of $225,000 converted at 16 cents is only 1.4 million shares not a huge volume for a company with 100 million shares which has increased by 30 million since 30 June 2025.

Contrary to what you say I think the risk of Indigo not being able to dump shares once registered and make a 20% profit is very low.

TwoGoodToDie

The DipNuke analysis is fundamentally flawed. He or she doesn’t understand how US CLNs work.

The Indigo notes can be converted into unregistered shares but as unregistered shares they would have to be held for 180 days running the risk of a loss if share price falls more than 20% before they can sell.

If however, Nuburu issues a registration statement like it recently did for Indigo and other CLN issues then they can convert and sell the shares at 80% VWAP with no holding time restriction.

The risk Indigo runs is that it has to hold the loan note until Nuburu issues an S1 registration statement and then it can make a guaranteed 20% profit in under a few months unless Nuburu goes bust or shares are suspended. This risk is reduced because of all the equity that is currently being pumped out settling debts.

Nuburu is now up to 100 million shares in issue up from 20 million at start of year so AZ’s printing press is working overtime.

The fact that Nuburu has had to resort to yet more expensive convertible debt shows how short of cash it is.

I doubt Supply with get the $2.7 million due at end of this month.

TwoGoodToDie comes up with the idea of Tekne funding Supply with capital to monetise its inventory by taking on debt secured on its equity or receivables.

Tekne taking on debt so that it can lend to third party stock companies so that Supply can generate gross returns of 1% to 3% before cost of processing doesn’t make any economic sense.

Meanwhile Nuburu share price is dropping due to constant dilution now up to 95.6 million shares after starting year with 20.3 million. In just over 11 days Nuburu is due to be pay Supply another $1 million on top of $1.7 million it already owes. I doubt it will be able to pay the full amount.

Nuburu only had $111,000 of cash at 30 June 2025 and it lost $12.2 million in the last quarter.

Due to Yorkville $100 million SEPA, Nuburu may survive as a company but its existing shareholders just like Supply ones with lose money.

TwoGoodToDie

The AZ announced three stage deal talks about a capital infusion in phase 1 supporting Tekne’s working capital i.e cash is needed not shares.

Yes there is a $100 million Yorkville arrangement but only 20 million shares are registered so far and around 3 million of those shares go to Yorkville for costs of the deal and then it has to pay first $1.1 million of any proceeds to Yorkville to repay a promissory note.

This balance won’t raise enough cash for a meaningful capital infusion to Tekne at current share price.

So there will need to be another tranche issued, which I think will require another S1 filing, which will take more time.

Nuburu now has 92.1 million shares in issue up from 70.3 million shares at end of June and 20.3 million at start of year which has cratered its share price.

Nuburu is now worth $15.5 million which means that its ability to raise cash to pay Supply the $2.7 million its owes it by the end of the month just got a lot more challenging let alone cash funding the minority purchase in Tekne.

No doubt TwoGoodToDie will try and put a positive spin on matters.

There is no ring fenced funding for the drill unless you think the stated what ever is left of the £430,000 of cash left at end of May 2025 remains enough to perform all the drilling work.