Member Info for WolfofWarks

If you look through the RNSs it’s going through the authorisation process and there is a fund called Quadrivo who are helping fund it.

Hi BG - A captive bank is a bank that is owned or part of a group that provides the banking/finance part of a service.

So if you lease a car from Arval the finance is provided by BNP Paribas - Arval being part of their group.

If you buy a car from say Toyota on a PCP it will be the finance arm, a subsidiary that will provide the funding.

Poor/Golf

I like Dr Cave, but he's a scientist not a businessman and the marketing of the mask was/is awful considering the potential of the product.

In desperate need of some proper executive leadership. People who are masters at production, logistics, marketing, etc. At the minute it's a tin pot operation ran out of the back office of a uni by the looks of things.

I think SNG is the far better COVID play, and on a nice upwards move. I've got a tranche at 100p and another at 165p so about to break even again.

Poor - Nice move in ARB as well today. I'm 30% up in a week :)

Did he give up waiting for the very special news?

We need to see a funder take up the proposition and be matched with a client.

Simply put in order to secure the valuation and purchase price of £31m TF will have to meet performance targets as outlined in their business plan in order to be paid further purchase payments by SYME, which can either be in cash or shares at SYME’s discretion.

It’s absolute faith for me in the business plan if 3rd parties would rather receive our shares and see the growth potential (making the value of their contract with us more lucrative for them) rather than cold hard cash.

Agreed - it does get complex. For example Syme do not have a stake in the bank, they are a customer of it. So I think we need to think of it in terms of being two companies operating as one with the captive bank supplying both and any benefit that accrues to TF naturally accrues to SYME anyway by virtue of our ownership of it.

Hi Parm

That’s pretty much how it reads to me as well.

Sorry Steve fat fingers .....

So if the SYME pie gets really valuable they can opt to pay them in cash rather than shares? I assume this would be arranged by consensus as it wouldn’t be an attractive proposition for TF shareholders if they were to be offered cash while the shares are booming or visa versa.

I guess it hard to figure out the mechanics when you have a larger valued company that’s not trading swallowing up a smaller but already trading company, if you catch my drift.

Hi Steve - this is the interesting piece because we don’t know how big the TF shareholders will become as they can be paid in either cash or shares and this appears to be at SYME’s discretion.

So if the SYME pie gets really valuable

Hi Steve - would other form would the capital take? Surely it’s got to be either shares or a loan.

Unless AZ is selling down some of his stake in TAG to fund the acquisition but that would be awfully kind of him on our part.

He’d still have to route those funds though SYME though if they are making the acquisition.

Hi Steve - if you’re a shareholder of TF you would want to receive full consideration though wouldn’t you?

Hi Alfred . I think we are going to have a slow and steady rise at what’s clear today is that any big rise will be sold down.

A lot of traders probably bought the dip at 0.30 and cashed in this morning in the mid 0.40’s at a 50% profit.

I would say the £31m is based on the potential of the business plan. Maybe the question should be why would you pay it all upfront? TF is still in the start up phase itself don’t forget.

The structure of the deal aligns both company’s goals to achieving the same aim. If TF succeed SYME succeed and the SYME shares as consideration become more valuable.

It also explains why so many shares were mobilised in the back background at the AGM to give SYME more flexibility to settle in shares or cash.

I was a voyeur on here for most of the summer before I opened my account.

By my maths and taking into account the extra shares needed to fund the £4m cash by the iis we’re looking at 1.8bn extra shares which is not bad at all.

I was watching a bit of CNBC closing bell earlier and in the USA there are a lot of investors who may have bought at the top and have gains/losses that are subject to tax which if they sold in the dip (and probably explains why the dip was pretty steep) could write off the loss against capital gains in other areas. In the US tax system crypto is not treated as a security like stocks so not only can you claim losses but they are not subject to the 30 days rule preventing investors buying straight back in.

So you could sell, bank a loss against your tax bill and then buy straight back in.

I'm involved in audits clients side rather than as an auditor and COVID has not really delayed anything. The tech has been very good in keeping the process flowing. The biggest problems were around trying to conduct stock takes at the very outset of the lockdown but most industrial/warehousing set ups have continued to work throughout.

Any material change in going concern will be dependant on whether there has been any movement in the funding situation.