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1st step is closing this first one and that seems to be taking ages
Chris - haha, maybe!
It needs more deals though surely? The greenan won’t generate enough cash to pay the corporate overheads. Hopefully this deal is just the taster course.
AA - I am certainly not neutral at the moment. I take an interest because I have bought into the story in the past. I think the gas deal debacle was really a huge mistake. What sort of oil and gas BOD doesn’t consider full cycle when making a deal?!
The company is now in a bit of a hole. Crazy to think where this could be without (let’s face it, the luck) of the HE1 IPO and run up. Surely less than 0.5p.
There really is not much to be excited about as far as I can tell.
That said, if the BOD can execute a series of excellent deals in the biogas space then there could be a turn around story.
They just need to do it soon or all the cash will be sunk into the Ruvuma money pit. This company cannot afford Ruvuma. The dilution will be too high.
Oh yeah and be like you? that would be hypocritical of me, I've already said that I don't like hypocrites
don't give me that old **** and bull about how we all learn when your full intention is to lower the mood on the board
pretend all you want that your views and opinions are neutral but your agenda's are obvious.
Probably a lot sooner than 85% of other AIM companies?
Anyway, when is that first deal closing, surely it is due and the company can start generating some revenues?
Panties appear to be getting bunched here lads. It was not my intention and sorry to have burst your little bubble where SCIR have £20 million ++ of tax losses.
AA - you are free to go on any of my investments and point out their flaws! (As you have done many times!) This is how we all learn.
Chris - when do you expect that we can use these losses? When will SCIR become profitable do you think?
There you go again, if anyone is making a big deal out of the losses it is you trying to spin negativity as usual
There are some decent folk on this board do you think it's fair to constantly keep bashing their investment?
You certainly don't like it done to you as I have seen on your investments
I have no time for people with double standards that reek of hypocrisy.
Give over colin/Mrc/d etc etc I explained that I thought they had 8 years of loses, corrected by steve to £5 million, you then tried to suggest I was talking about CGT. Maybe I did not explain myself well enough but on the other hand steve and AA were clearly able to grasp what I was referring to and now you try and turn it into some big deal and make a scene and accuse me of half truths.
Looks like more thumb sucking to me?
AA - I have admitted that I missed this in the accounts and was not quite sure about what these losses related to in terms of capital losses or trading losses. To be fair to me the company include this in a note and are not shouting about it like Chris is.
The losses are useless, so why are you and Chris making such a big deal out of them? At best they add a million pounds to the market cap at some point down the line - 5 years? 10 years? Do you think it’s good that the company continues to make large losses with little progress??
Why exactly are you still invested? You don’t seem in much of a hurry for the BOD to come good on their strategy (which is based on rapid scaling of NEW investments!)
If they do what they say they will then I would be happy to reinvest. At the moment they are consistently over promising and under delivering, and I can’t invest in that. The only other thing that could happen is they sell Ruvuma - this looks highly unlikely, but I understand that some will invest on the chance that this happens.
As I have said.
If losses are contouring to be made then they will accumulate until they can be used against trading losses. Not sure about any losses of previous investments. These may be treated as capital losses and be used against gains on investment disposals. So as we have made no profits in the previous three years no losses have been lost.
relatively straightforward
I know why I am here I'm not sure quite what your reason is tbh
you said our tax losses where of no value when they clearly are ,you feel justified in questioning Chris's integrity for a innocent mistake yet fail to see it in yourself, your inability to read a relatively set of accounts says it all.
I should also say I am grateful for Steve’s input keeping us all right!
Well to make a profit and generate shareholder returns of course!!!
What else are we here for??
Chris said that we had tens of millions in tax losses. We don’t.
They are worthless in terms of what should be attributed to the current market cap. The company has applied 100% discount in the accounts because there is no visibility of when / if the losses can ever be used to offset future profits.
I have argued the toss on this one because it is another case of Chris writing half truths with nothing to back it up. It helps everyone to have a truthful understanding of the company
And yet it proves that the losses are not worthless as you said in a previous post irrelevant of any excitement it may stir in you
What is it that they need to scale so urgently?
Ok, so if we ever make £5 million profit then these losses are worth about £1 million pounds.
I can’t get too excited about that. Greenan may make an operating profit, but corporate losses will negate that.
They urgently need to scale.
So the long and short of it.
Losses carried back three years probably reverting back to one year soon.
Losses carried forward indefinitely and can be added to each year so eventually when they make a large trading profit no tax will be payable and any balance of Losses not used carried forward.
The losses can of course be carried forward and added to so they will be used eventually once a trading profit is made.
Yes but we don’t “trade” and certainly don’t make a profit from it. So the losses are worthless, particularly if they can only be used for a few years.
The company itself has chosen not to attribute any value to the losses.
That's what Chris was referring to ( trading profits)
Not capital gain .
That's what Chris was refe
Correct there.
So only available against trading profits.
Whenever they come.
Have a good weekend.
Thank you Steve - yes I had seen that in the AR, but they specifically say they have not made an allowance for that as they don’t have any expectation of being able to use the losses.
I am not an expert but presumably a sale of Ruvuma would be a capital gain and therefore trading losses for corporation tax would be useless?
Do you foresee any scenario with current assets where they could utilise these losses?
Good Evening to you.
Go to the accounts on the companies house website.
Bottom of page 59 all there clear to see.
Just over £5 million losses available to be used against future profits.
ATB
Steve
Chris - still waiting for that figure in black and white.
The accounts show zero so I will stick with that.
We’ve already got you down from tens of millions to £5 million. I expect we will see you come right down if you are man enough to admit you got this wrong.
Steve - have you got some reference for the £5 million?