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F
The word used on the 29th Feb was Finalised by the end of March. Then, the 5th of April update said they had hoped to complete the contracts in March and that further meetings were planned in April to complete contracts etc, all a bit woolly, to be honest.
I totally agree with you about the lack of PR. I just checked the website, and Nicola's mugshot has been removed (I'm sure she chased it), so there is at least some change. After that last Proactive report, which was pure fiction, I bet even Proactive is wary of AZ and not happy to accept share-based payments from SYME or, as in the case of RTOP, have their invoice assigned to TAG.
How on earth anyone can pretend they know when the deal will be done - seriously!
Just remember the old stock market saying
"buy on rumour, sell on news"
I'm sure AZ's track record of underdelivering and total failure to deliver against all forecasts will continue and after years of anticipation, we all know any announcement on progress will disappoint and fail to provide accurate information. The AGM will be interesting as the whole board needs to be held to account - but we all know they won't be...
SYME shareholders will be disappointed in AZ if he actually honours the $3 for Nuburu - yet couldn’t find the change to fund SYME and RTOP commitments.
I smell a rat - repeat of TradeFlow fiasco or is this AZ’s rinse and repeat in the US shame he doesn’t put the same efforts into delivering against the SYME business plan.
TG2D,
Is there any RNS info on Banoco taking an equity stake in SYME? Or is this your personal hope?
I struggle to see a serious II becoming the first II and investing as SYME would be a by a major headache for any investment committee following due diligence, also MC and liquidity is just to low and not many investment folks would put their c#ck on the block for AZ /SYME.
Seems a bit far fetched based on progress against business plan and published forecasts to date.
No crash!
Take a look at the 3 year chart - now that’s starting to look like a slow motion train crash.
Being realistic there is absolutely no evidence of progress since the last up date and probably another half million of cash blown on G&A.
Well that was a something of nothing RNS and lack of business update. It like they wanted to show a weak pulse still exists at SYME towers. So another half year end is fast approaching with non-material revenues.
I note no mention of revenues or cash balances which should be included in an informative business update - as usual investors are left thinking what else aren’t they telling us.
In fairness to TW if he was going to profit from bashing companies I doubt he would just publish his damning articles behind a paywall. Most of the long and strong gang refuse to pay £6 or whatever it costs to read his stuff, although I bet most peep. TW is an irritant to the likes of AZ but won’t have a material impact on the group as regulation by the FCA is so apauling..
Chewy,
“This could lead to bigs things”. That’s a rather vague statement you make and sounds rather uninformed. The best lessons are learnt from the past.
TAG is very relevant to both the current cash starved predicament that SYME and RTOP are in and if TAG doesn’t deliver then the fat lady will be warming up.
I would say chat about WL generating any material revenue this FY is just white noise…..
I would say he’s an aggressive share promoter - set on the path by DW. Desperate to keep the pretence going he’s now got so many plates spinning that it could all come crashing down.
RTOP was the final straw for investors and most aren’t getting fooled again…the end game is wealth from share shenanigans rather than genuine operating business. I’m surprised he is still at SYME, although probably can never leave in case others discover the bodies…
TG2D,
Yes it is the SYME bb however RTOP is a related company and it management style is highly relevant to the discussions here. SYME has been the main customer of RTOP 8n previous years.
Now tell us more about the £40m?
TG2D
That’s just plain wrong….
No sign of £40m being raised at RTOP… AZ may have made a paper gain on listing but no cash made its way to RTOP which is relying on TAG cash which like SYME has failed to arrive as per the contracts. Hence cash strapped RTOP is looking at alternative funding options.
The A,
So predictable it’s almost laughable. 5.42 pm wtf!
So at nearly 6pm today AZ controlled entity RTOP released shocking results. Blaming challenges on the partial performance of the TAG loan. It’s almost a cliche that AZ the shadow director and majority owner of RTOP actually released results just before the long weekend - now what’s he trying to hide……..
So legals were instigated well over a month before SYME announced them to the market. This gets more and more murky.
https://www.offshorealert.com/avantgarde-group-spa-et-al-v-stock-loan-solutions-llc-et-al-complaint-securities-fraud/
Although liquidity is much reduced at least this way TAG gets something back and can over time sell the shares to the dwindling number of believers, getting some cash in, rather than no cash in the short to medium term. As well as being seems to benefit the cash strapped SYME. After all TAG has commitments to RTOP and needs all the cash it can generate.
Perhaps an end of month RNS saying talks are progressing, progress is being made and further deals and announcements are imminent. That should get some buying activity!
If AZ were to go to court v TW I’m sure the disclosure process would make for very interesting reading for shareholders!
My money would be on TW as I’m sure we all agree AZ hasn’t been whiter than white in his dealings with shareholders…. Despite the sensationalist headlines used by TW there is generally a very accurate and defendable element to the stories.
For those reasons we know AZ won’t challenge TW.
Shame we only get a spoof RNS intended to prime the market to think there may be some sort of share squeeze prompting a spike. Prediction is nothing will happen, the shares are long since sold, no legal action will ever occur and this is the last we will hear about the loan shares for a few years, if ever.
A desperate attempt to cause a spike to sell into? Increase liquidity to enable some kind of facility? A morsel of hope for the last few believers? meanwhile the actual business of SYME continues to burn cash as AZ desperately tries to move the story on and keep the illusion alive.