This may well have been asked and mulled over no doubt but by definition "Often called long-term assets, non-current assets are those that will not have their full value realized within twelve months of the balance sheet date. What does having their value realized mean? Quite simply, that means that the asset is converted into actual cash that will be used to meet debt obligations." So what are we going to sell if anything, help fund the dumps (maybe), good bye Chingola or Ndola the trouble is with all the crap we have been given over the years we probably do not even know what if anything or where we will produce a product to sell.
Thought it was something like that. Good riddance I would hope, just hope whatever it is he has left behind is not to big an issue for Borrelli and co. to sort out.
I agree that time should be given but as we don't know the size of the problem it's difficult to gauge what is a fair amount of time to allow. It's not like we have a choice one way or another anyway for now. I think we've given BMR incredible amounts time and forgiveness down the years, made excuses almost and accepted the never ending string of promises of better times ahead.
Have a great weekend, sticking a few down the hatch myself now.
Seems MA was and is in fact a bit of a turd then Smudge. That kind of response has left me quite furious, considering he has used our money and subsequently now slipped away, ill or not, out of the firing line.
Apologies for late response. POETS day and I fancied a couple of pints down local.
Yes I did receive an email from MA saying he (BMR) did not have to respond to shareholders!!! Kind of sums up what he thought of us.
But, he's not running things now, hopefully we have in place someone who does have time for shareholders. But if AB is going to be clear, concise and upfront with us I really think we should give him time to go through the company with a fine tooth comb and clear out the crap however bad it is. I'm hoping once the crap is gone we can really move forward and news/information regarding our projects/plans and info will be more forthcoming from BMR
I'm willing to give AB the chance to turn things around in our favour, I think we all should.
But, yes, that chance has a time limit and if it passes I will be more than willing to join the list calling for an EGM
Nevertheless, BMR is not a massive company. You know I'm ACA by profession. I spent 6 years in audit, both in practice & in banking. Getting to the bottom of thus company won't take long, we are tiny, with a small balance sheet. You could depth test each of our assets in a couple of weeks.
Really hope we get something definitive quicker than the spring! Cheers
Chimey - lol, now you're sounding just like my clients. They would first need to find out what's been going on with the old lawyers and accountants - 21 days for that is reasonable. Then, the new lawyers need to go through it - another 2-3weeks. They will need to ask qquestions, another 3 weeks to reply. Through Xmas, annual leave, sickness etc into themix and you are wwell into the new year.
They might all give it top priority, but why should they? I know how long these things can take, hence Spring for me. Hopefully it will come earlier, especially if they are going to have an AGM which would be a bloodbath without news, but you can see how time can drift by.
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