CmonaussieExcellent presentation from a Balance Sheet point of...

Cmonaussie

Excellent presentation from a Balance Sheet point of view.

I would suggest that there is a distinction between SYR and TLG in that TLG is still in the development stage where you sink investment capital into your project to achieve future cashflow. SYR are in production and their production cashflow has been insufficient to support the production effort let alone the development in the US. This has a very deleterious impact on the value of each share, your BVE, as you have demonstrated, but also on the price at which SYR is able to raise additional funds. The way I look at TLG is that they have a very conservative mode of operation by writing off their development costs and intangible assets such as goodwill arising from intellectual property accumulating large losses. This makes TLG look like a tech company with nothing tangible to show for their efforts. Therefore as long as TLG is able to secure additional funding to kick the ball down the road to the point of positive cashflow, then all well and good as long as the necessary milestones are being met. I look at how long the cash burn can be sustained before any additional funds are required. This is why the financing of the execution of their project through JV with partners with much deeper pockets is a positive, but only as long as those partners are credible and deliver their side of the bargain. The losses of course at this stage are daunting, but will become a tax asset once profitable operations are achieved.