Regtech Open Project Share Discussion Threads

[nobbygnome] 19/3/2024 08:50

LOLOLOLOL kemche you are a scream.

If you add two piles of sh*t together, you get one big pile of sh*t!

[noirua] 18/3/2024 23:11

A coded message from kemche is rare only one way to go.

[kemche] 18/3/2024 12:05

NT to buy. All gone.

[lawson27] 18/3/2024 11:48

I had to pay a premium @4.75 for dipping a toe in here, hope its worth it, GLA

[noirua] 17/3/2024 14:41

The fall from 10p is unfortunate as RTOP continues to be sold down.

[noirua] 14/3/2024 09:26

RegTech Open Project PLC Trading, Strategy and Funding Update
04/03/2024 7:00am
RNS Regulatory News


§ Billings for recurring software subscriptions across all products increased 17% for the year to 31 December 2023 over the full year 2022.

§ Revenue mix improved year on year in 2023: recurring revenues billed represented 58% of total billings, up from 32% in 2022

§ The Company continues to receive funds under the Shareholder Loan Agreement (SLA) albeit with delays. RTOP has received an additional £0.6m of funding to date in 2024 demonstrating the majority shareholder's commitment to the Company. The funds requested and not received by the Company under the SLA continue to accrue interest of 15% against funds received under the SLA accruing at 10%.

Initial progress on the strategic initiatives of subscription conversion and the exciting, highly scalable InsurTech additional business line are tracking against plan and herald a new era for RTOP as it moves away from its historical business into high-growth, high profit repeatable revenues.

In 2024 the management team is focussed on executing the four-point new strategic plan, and trading in 2024 has begun to bear out some of the short-term plan with some positive increases, most notably in revenue retention year-on-year as we build a strong recurring revenue base from our customers to underpin the strategic growth initiatives. The pipeline of new business in our traditional market is healthy, and our investments will enable us to expand throughout the year to drive further growth."

[kemche] 08/3/2024 08:46

I continue to average down.

GLA LTHers!

Another SLYME in the making.

[monster500] 08/3/2024 08:31

Anyone got an opinion on today's 2 buys and share drops ten percent?

[bbmsionlypostafter mk2] 04/3/2024 11:53

Regtech confirms Zamboni not paying so technically insolvent, warns revenues collapsed in 2023

The fraud Regtech Open Platform (RTOP), floated at 100p last August but whose shares now trade at just 4p has served up a dog’s dinner of a trading statement and a tacit admission that it is technically insolvent. In the days of old when regulators gave a FF these shares would have been suspended pending clarification.

[noirua] 21/2/2024 23:52

RegTech Open Project PLC (LSE:RTOP) said it has received £1.1 million of the £4 million unsecured loan agreed from founder Alessandro Zamboni but is working on completing a ‘set-off’; process to cancel out the remainder of the loan.

Yesterday, the London-listed company received confirmation of the payments of another £100,000 from another Zamboni vehicle, AvantGarde Group SpA, on behalf of RegTech Italy, which was not the full £1.4 million that had been expected by the end of December as part of a loan drawdown notice.

Zamboni furthermore confirmed, that the PLC directors said, that RegTech Italy would continue to make payments to the company ultimately to fulfill its obligations, but as the London-listed company has £3.56 million of payables to transfer to RegTech Italy, said it is “actively working with RegTech Italy to complete the set-off process” instead.

A net interest receivable of roughly £100,000 as at 31 December is expected to be deductible against the current principal loan amounts received.

[tiredoldbroker] 17/2/2024 16:54

When do holders all join hands round the table, to see if they can contact the dead?

Is there anybody/any finance there?

[noirua] 13/2/2024 13:58

Alessandro Zamboni sold shares up until December 31 last at about 101.1p a share. An opportunity at some stage to buy back at a small fraction of the price sold.

[noirua] 08/2/2024 17:05

Some interesting trading in RTOP today. The shares have fallen from 250p. Hit 3.5p today before bouncing a little to 5.75p.

[vaston] 07/2/2024 14:23

SYME IS NOW READY TO FLY

[noirua] 06/2/2024 14:39

It's OK kemche Jak was filtered a long time ago.

[kemche] 06/2/2024 13:33

I continue to average down.

[kemche] 06/2/2024 13:33

Don't listen to Jak Noirua - it is an excellent business. Just like SLYME.

[jaknife] 06/2/2024 13:23

Noirua,

Nothing about RTOP looks "promising", it looks exactly like what it is - a total fraud. There is no sensible investable business here.

JakNife

[noirua] 01/2/2024 12:59

January 4, 2024:

Since completion of the Company's direct listing on 25 August 2023, the Company has served drawdown notices for a total of £4,000,000 (comprising £2,000,000 drawdown by 1 September 2023, £500,000 by 30 September 2023 and, since 1 October 2023, three tranches of £500,000 each) under the Shareholder Loan Agreement, of which:

· £1,046,000 in funds have been received (£437,000 in funds being received prior to 29 September 2023) by the Company, accruing a non-compounding interest rate of 10% per annum (calculated on a 360-day basis) due to RegTech Italy; and

· £2,954,000 remains to be advanced by RegTech Italy and is accruing compounding interest at a rate of 15% per annum (calculated on a 360-day basis) payable to the Company, pursuant to an English law governed side letter agreement entered into between the Company and RegTech Italy, on 28 September 2023 (the "Side Letter Agreement").

· On 6 December 2023 the Company announced that Mr. Zamboni on behalf of RegTech Italy had acknowledged the amounts currently outstanding under the Shareholder Loan Agreement and had made representations to the Company that RegTech Italy would be in a position to fulfil its payment obligations in full, and specifically that £1,400,000 would be paid to the Company by 31 December 2023.

However, as at 31 December 2023, no additional funding had been received. On 3 January 2024 RTOP received bank confirmations of payments of £100,000 from TAG on behalf of RegTech Italy following additional funding arrangements put in place by TAG with a third-party provider.

Furthermore, Mr. Zamboni on behalf of RegTech Italy confirmed to the Directors that RegTech Italy would continue to make payments to the Company ultimately to fulfil its obligations under the Shareholder Loan Agreement.

[kemche] 01/2/2024 12:23

I only follow sound and secure companies. I make sure they have the most trustworthy BODs. Simple rule really.

[noirua] 01/2/2024 12:22

FINANCIAL AND FUNDING UPDATE
REGTECH OPEN PROJECT PLC
Released 07:00:03 04 January 2024

[noirua] 01/2/2024 12:20

Confidence is low though there are trading opportunities.