Member Info for WolfofWarks

Hi Paul - I’m pretty sure they said on the call that ecomm customers doubled.

A much needed pivot away from bricks and mortar.

Sterling was getting battered at one point

I can’t work out whether the drop was overdone or the previous rise to 140p was frothy.

Hopefully a good bounce back tomorrow.

Nice little rise. That’ll do!

Yeah a bit of a mixed bag really. I think at this stage the turnaround plan is more important than the CV19 hit, whether the market agrees is another matter.

Poor - it will require reported profits. I assume once this is up and running we’ll get these bi-annually perhaps?

Poor - I understand completely. I’m of the opinion that the involvement of the big four will result in the system being adapted to fit the IFRS compliance requirements. At a pure transactional level I think the ‘true sale’ concept is a tough sell.

Parm - I’m not too sure why you have got you knickers in a bunch. I haven’t meant to be condescending but this is a complicated subject and I’m trying to put it in as simple terms as possible because I know we are not a BB of accountants so would not expect most to understand it. Just like when people talk about tech, distribution ledger, etc, I don’t really understand it in any great detail.

The IFRS has definitely had a recent impact. We’ve gone from SME to large corporate. I do not believe that has happened by chance. Why pay for the big four otherwise, trust me they are expensive. It’s a step in the right direction to gaining legitimacy though so should be applauded.

Parm - you misquoted what AZ said ... it’s the client companies that have to be IFRS complaint in order to go onto the platform.

The whole piece partners, funders, etc, will require regulatory approval, but that’s a separate issue, we’re talking about the client companies accounting compliance here.

Wolf, you are shi***g some more, tyre kicker is an old phrase popular with second hand car sales men.

I’m well aware if that poor lol ... I was talking in the context of this BB.

“I am and perhaps others are going with Syme to have 'bullet proofed' this element otherwise there would be no funding partners, no captive bank and basically... no platform!”

Parm - this is where you need to have a bit of understanding of the way the world works and to be frank not be so naive. This is a concept. To coin the phrase AZ is doing his own tyre kicking at the moment. He’s pivoted to large corps and last week he mentioned the IFRS compliance for the first time and now has sensibly enlisted one of the big four to help out.

We are still waiting for confirmation of regulatory approval and we’re still waiting for all the elements you mentioned above to be confirmed for Storm Harbour.

AZ eluded to this and I think it’s important that people understand that then UK is the key to this whole thing now. Compliance in the UK gives us the common law framework for the Middle East and our framework is closely aligned with the USA which should make entry there seamless.

If investors properly take in and understand the content of the interviews and RNS they would realise this.

Parm - I simple corrected what you said as it was wrong and put you right.

Simple as that.

Poor is this the basis of everyone’s research? Reading the RNS. Are you sh tting me? Research should be far more thorough than that.

Good lord.

When we report a profit. It’s simply a formula that divides the share price by the earnings per share, which is the reported profit divided by the number of shares in issue.

Just to add that ‘tyre kicker’ was my phrase .... can we not attribute it to others.

Thanks!

“Please all check AZ's videos you can go back to April and the recent one, he covers the fact that Syme will be IFRS compliant, I have posted this before and emailed Syme and posted the reply here.”

Not strictly true there Parm. AZ said, and he’s right, that It’s the client companies that need to be compliant with IFRS 15 (sorry all for my earlier blip) - they are the ones doing the accounting and carry the risk of non-compliance . The platform is a piece of tech.

Yes

Hi D9Ber1 - I’ve bottom drawer Avacta. Managed to get out as soon as the vaccine news was announced was a 15% drop but then managed to buy again at the bottom. So remarkably sat on a 10% profit at the moment.

What do you think the prospects are? I think testing will still have its place but there’s that many products in the making it’s a crowded market.

Hi Micro - yes it will need regulatory approval in each country. I thought you were referencing the financial legislation piece.

I’ve only ever worked on getting regulatory approval once and it was a relatively simple company so I can’t really add anything on that side either in the uk or internationally.

If you guys are investing here let me correct you so your going in with a straight bat. It’s one piece of financial regulation which if complied with will allow the platform to roll out globally - the international standard IFRS 16.

There a good interview from a couple of weeks ago that explains all this - it does mean small companies are unlikely to be able to go on the platform unless they comply with IFRS which is meant for medium to large companies.

If you look at threads going back to ten days or so ago you should be able to find a YouTube link to it.