Why directors are worth a lot of fees
Today's gem of an announcement from the crowd who are usually 'surprised':
"Allied Farmers Limited (ALF) has considered the carrying value of a number of
its loan assets as a result of recent developments relating to each of those
loan assets. In some cases a loan asset is likely to be written up in value,
and in other cases the loan asset value is likely to be written down. Whilst
the Board will not make a final decision on the carrying value of its loan
assets until it finalises the 2013 Financial Statements, the Board considers
it appropriate to advise that indicatively the net positive impact of the
assessment will be approximately $276,000."
Best Wishes
Paper Tiger
What is not in the accounts
So Allied Farmers have put out a nice little statement about how wonderfully things are going and how the future is oh so bright to go along with the brief unaudited accounts.
What one can see is:
-- negative equity of $7.5M;
-- that even total assets do not cover current liabilities.
What I can not see is any provision for, or even any mention of, the fact that the IRD wants $4.2M off them.
But it must be there somewhere surely?
Let me know if you find it.
Best Wishes
Paper Tiger
Quotes from this thread during 2013
Quote:
Originally Posted by
minimoke
I admire your optimism Vaygor - you still think ALF will be around tomorrow?
Quote:
Originally Posted by
moosie_900
… This stock has no hopes in my books and I would never chase it downwards!
Quote:
Originally Posted by
blobbles
... sell sell sell... there's a very real chance of belly up here...
Quote:
Originally Posted by
SparkyTheClown
So sad, so sad. Feel very sorry for shareholders...
Quote:
Originally Posted by
Balance
Better things to do in life than to bet on a walking dead.
Quote:
Originally Posted by
RazorX
I wrote this baby off a long time ago - one of my early speculative shares. You live and learn.
I recently became a top 20 ALF shareholder by recently investing less than the daily fluctuations in my portfolio's market value.
ALF's market cap has more than tripled in value in the last few weeks and there are plenty of buyers and few sellers.
Chairman Gary Bluett’s interests have just injected $300k.
ALF’s creditors are happy including the IRD.
Does anyone want some cutlery? :D
NZ Farmers Livestock Hawke's Bay acquisition settlement
Just topped up
Low turnover today but still positive response from the market
Anyone see this as a negative move by Allied Farmers?
Chairman, Garry Bluett commented “that this is a very positive step for Allied Farmers Limited. Now that some of the past issues are being resolved, it is promising to see the group looking forward to growing the livestock business”