In a shock announcement yesterday, the insolvent fraud Supply@ME Capital (SYME) announced that Nuburu (US:BURU) had paid the final amount of $2,198,000 due under the $5,150,000 facility prior to 31 October 2025. It makes it a change from usual delays in payment.
With interim results published today, the fraud Supply@ME Capital (SYME) can now apply to the FCA for its shares to be unsuspended.
Today more than 5 months late, the fraud Supply@ME Capital (SYME) has finally published its accounts for the year ended 31 December 2024. Supply shares will remain suspended until it publishes its interim accounts to 30 June 2025 which were due by 30 September 2025. These are promised soon.
You would have thought that as the regulator of the main market the FCA would have had enough of an insolvent fraud that keeps on lying to investors. But it seems that it is happy to allow the Supply@ME Capital (SYME) farce to keep on playing. Wel I suppose it keeps me entertained so perhaps I should thank the chocolate teapots for being so incompetent.
At 2.32 pm yesterday the insolvent fraud Supply@ME Capital (SYME) finally fessed up that it hadn’t received the $2 million due by Friday 12 September from the insolvent fraud Nuburu (US:BURU) and made the following statement:
The insolvent fraud Nuburu (US:BURU) was supposed to have paid the insolvent fraud Supply@ME Capital (SYME) $2 million on or before 12 September following a revised facility agreement when it had failed to pay various amounts totalling $2.7 million due on or before 31 August.
By Friday, shareholders in the insolvent fraud Supply@ME Capital (SYME) are promised $2.0 million from the insolvent fraud Nuburu (US:BURU), both companies being run by Alessandro Zamboni whose main vehicle, the insolvent fraud AvantGarde has just gone into administration. When I last wrote about Nuburu on 1 September its share price was around 16 cents per a share. Then there a was massive price increase overnight on 2 September as investors reacted to a Press Release released in a Form 8K below:
Death and taxes are always described as two certainties: well shareholders of Supply@ME Capital (SYME) have a third, Alessandro Zamboni never delivers on his promises.
We should find out on Monday whether the technically insolvent fraud Nuburu (US:BURU) has paid the $2.7 million to the technically insolvent fraud Supply@ME Capital (SYME) which was due on or before 31 August 2025. Even if it does pay, Supply would still be technically insolvent! When will this madness end?
Shareprophets has asserted for a number of years that The Avantgarde Group SpA (TAG) was an insolvent company and that the Directors of the insolvent fraud Supply@ME Capital (SYME) were reckless in relying on its financial guarantees to support Supply’s going concern assertion. Alessandro Zamboni reassured shareholders in the Supply Annual General Meeting of 26 June 2024 after the 31 December 2023 accounts were approved on 1 May 2024 that TAG was not insolvent but simply undergoing a reconstruction.
According to the Italian Press, the Italian Government has used its Golden Power share to block Nuburu’s (US:BURU) acquisition of a majority stake in Tekne SpA -Golden power blocks the sale of Tekne: Fiom-Cgil. The Tekne acquisition was the cornerstone of Alessandro Zamboni’s plan to revive the insolvent fraud Nuburu. Nuburu’s shares fell yesterday and continued to fall overnight.
The latest SEC filings for Nuburu (US:BURU) show that it finalised the two Prospectuses on 31 July 2025 to issue 20 million shares to Yorkville and 40.7 million shares to various loan notes providers. There shouldn’t be any barriers to Nuburu now starting to sell shares to Yorkville and pay Supply@Me Capital (SYME) the $1.7 million it owes.
Today Supply@ME Capital (SYME) published an RNS titled “Funding update” which should have really been called “Lack of Funding update.” The RNS fesses up that the funding of $0.5 million due on or before 30 July 2025 had not been received which when added to the $1.2 million due on before 15 July 2025 which was also not paid makes the total outstanding $1.7 million. The RNS includes the following explanation for the lack of payment:
