By Tom Winnifrith | Monday 5 September 2022
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
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.
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