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The purchase of loss making sub scale asset manager Tradeflow by the fraud Supply@ME Capital (SYME) for a bonkers price in a deal which saw millions of pounds worth of shares handed to secretive offshore bank accounts was always mysterious and another red flag to add to the forest already flying. Last month Supply said that it was considering unwinding the deal but yesterday’s dire interims beg the question at whose instigation?

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I noted earlier that in today’s interims from the fraud Supply@ME Capital (SYME) there was, according to note 11,  another impairment charge of £765,000 on TradeFlow goodwill to add to the previous £800,000 impairment charge at the year end making a total of £1,565,000.  The remaining intangibles of TradeFlow are carried at £6,724,000 in the balance sheet but is this still too optimistic a number?

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There is terrible and there is really terrible. And half calendar year results from the fraud Supply@ME Capital (SYME) are even worse than really terrible. This company is technically insolvent. Bust. Bankrupt. A dead corporate parrot.

NEWSFLOW

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On 6 July 2021 the fraud Supply@ME Capital (SYME) announced the completion of its acquisition of the loss making sub scale asset manager Tradeflow Capital Management and the RNS included the following text:

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Proper companies do not behave like this. But those which are frauds care little for timely filings of paperwork at Companies House, they are too busy ppumping the shares to allow insiders to sell, death spiral financing to be secured. And that brings me to the fraud Supply@ME Capital (SYME) which apppears to be picking up on two years of missed filings as the screenshot below shows. Such industrial scale backfiling is not a good sign, it is another red flag to add to the forest.

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Hurrah! Hurrah! The core business, as opposed to the loss making sub scale asset manager Tradeflow,  at the fraud Supply@ME Capital (SYME) has just completed its first ever transaction.  The morons are creaming themselves arguing that it makes the shares, at 0.11p, a £47 million market cap, look cheap. Au contraire. Let me explain why and ask three questions of boss Alessandro Zamboni

NEWSFLOW

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In today’s RNS, the fraud Supply@ME Capital (SYME) announced that it had issued another 950 million shares at 0.05 pence per share and 475 million warrants exercisable at 0.065 pence per share.  The gross proceeds were £475,000 but SYME has taken on debt of £47,500 (equivalent to an 10% upfront charge on gross proceeds).  Th at small loan carries a 10% interest rate but is also repayable via shares at an unspecified conversion rate.  

NEWSFLOW