Member Info for WolfofWarks

17% up live

"Not if we were all watching the same interview. My takeaway points were around 20min in where he states that the regulatory setup takes two weeks."

Dave - he's talking about adapting the platform. There's no way the regulatory process could be completed in two weeks. Think how long SH has been going on and we are still waiting for Italian approval. When he says he's talking to governments I believe it's in respect of approvals.

I found it on Google straight away. I don't work in practise but I know these things are sometimes open to interpretation.

I think if this gets regulatory approval then we're off as I'm sure they would give this due consideration with it not being debt being front and centre of the model.

Sorry WUM was an internet forum thing 15 years ago ....

https://www.ifrs.org/use-around-the-world/why-global-accounting-standards/

If anyone is interested in researching the accounting standards side of things this may help you understand how IFRS fits in with the global scalability and a one size fits all approach.

There is also a separate standard called IFRS for SME which is a tailored IFRS for smaller companies - although I don't think IFRS 15 (which AZ referenced in the interview) is a requirement for IFRS for SME. Not too sure if this is problematic or not for the platform but it makes sense why the emphasis today has shifted towards large corporates.

Christ this has got to be a WUM

Storm Harbour is Italy only and always has been - according to previous RNS.

The other regions could feature in IM2 scheduled to start in March, well at least before SH delay.

I like the way he says focus ...

He’s talking about governments understanding the service and how it’s different to equity capital being injected into companies. He said the Italian and Middle East understand this and are supporting us to assess the opportunity for the economy. I assume he’s talking about the regulatory process.

I didn’t quite get exactly what he is a saying about UK (my own ignorance of broken English) and how far along we are just that SYME are keen and ready.

I’m feeling quite bullish on this now. That’s by far the best interview he has done and he provided some great detail which we haven’t had before on the accounting, regulatory side, etc.

It’s the opposite of a hole ...

“Just managed to sneak a little bit of the interview. Note at 20:15 he talks about 2 weeks to get the US and UK regulatory approval. Come on AZ drop the bomb”

Xerxes300 - this isn’t quite what he said. He said they could change the platform in two weeks to work in a different regulatory framework. See my previous post.

It’s facinating what he is saying about the regulatory frameworks, that Italy is extremely complicated and if they conquer that then the other countries use a slimmed down version of it.

Kind of go for the most complicated and everything else is easy after that. Clever thinking.

Savvy - I’d like to pick your brain on this if I may. I sensed a strategic shift in this interview today from SME to large corporates.

The reason for this and if you listen to the interview around 18 mins in, AZ states that client companies have to be compliant with IFRS, the international accounting standard which makes it globally scalable. He also mentioned that the platform has to be fully integrated into the clients system - assuming that this is probably most achievable in larger companies with more sophisticated IT set ups.

This also answers a question I’ve been pondering in the back of my mind regarding conquering Italy first, proving concept and then rolling out to other markets.

I now believe this has to be global in order to catch enough large companies that would take this on that would also meet the IFRS requirements.

What do you think?

Interesting having listened to the interview AZ mentioned that large companies operating JIT have inverted the process and asked their supply chains in build up inventory.

The exact opposite of what it is designed to do and a massive opportunity for SYME if they are building up large volumes of potentially (in the short term) slow moving stock.

Xerxes - I agree but it depends how integrated they are with the end manufacturer as to whether or not they have any inventory to monetise.

It might be tier 3 onwards where the opportunities arise.

I do get extraders point though about cars being a heavily depreciatable asset in terms of unsold stock. We don’t want to be left holding that baby.

The large car manufacturers operate ‘just in time’ production lines and are heavily integrated with their supply chains who pretty much operate on the same basis. So they shouldn’t have masses of rolled up inventory plus their funding needs are likely to be in the £bs.

I’ve got a pal who works for a company that supplies JLR and they basically run the factory.

There maybe be some opportunity which the smaller suppliers or the 2nd hand dealer market though for sure.

I agree AI69. They are almost as bad as the scam articles in my opinion trying to part uninformed PIs with their cash.

Are topshop and topman both not well outdated now?

Should make SYME more attractive depending what view our funders take.