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There is nothing wrong with the sector.
There is nothing wrong with the product.
But there is something very wrong about the management and finances.
It's revenue that matters now, not sales orders, not tonnes invoiced, not tonnes delivered,.....just revenue!
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Https://finance.yahoo.com/news/brazil-fertilizer-demand-recover-2023-212106381.html
Glimmer of hope for harvest, the fine must turn sooner or later
Not with that PoS running the company but the business a sound one imo if run competently.
Waiting to read the RNS admitting to accounting problems or similar and might bet on the company which buys out the wreckage.
I think someone in harvest may have been a programmer
If total sales orders are greater than x then some sales orders are not delivered AND if sales orders are less than Y then some sales orders invoiced = sales orders invoiced and sales orders paid but not delivered
you get the idea :-)
Good question soon maybe, it could go either way, but I suspect it may be up, but even with that suspicion I am not tempted to come back in. I would rather buy in higher when things are clearer , if that's a possibility with BM and the roaming RNS data
Since april 2022 , I have always been mindful about a quote I saw for 165 BRL per ton, as far as I was aware the price should have been over 200 BRL
Going the same way as BM's other great company jangada.....
no cash. Be interested to see who funds the next raise. I wouldn't touch this stock with a barge pole
I have sold. There is no other explanation for Brian not taking a salary than the company is running out of cash. At best there's a horribly diluting placing on the way, at worst, there isn't.
Yes, the word 'News' doesn't make sense but we all know it should be 'New'.
Included in that sentence is '.....versus budget of 60,000 tonnes.', Harvest have never provided budget figures for invoiced & delivered, just sales orders. That budget of 60,000 tonnes of sales orders is also shown in the review of operations in the same RNS.
Yes, the MD did state that in the IMC interview and they also stated the same in the Q4/FY2022 sales RNS. But I also recall the MD in response to a SH question in the interview saying Harvest BoD had agreed and wouldn't provide figures for 'delivered' in future up-dates? Then along comes the Q1/23 sales update RNS with the highlights:
'Sales orders received total 16,755 tonnes versus budget of 12,000 tonnes'
and
' Sales orders invoiced and delivered total 3,560 tonnes'
I thought you had sold up anyway?
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Why does it say 'News' rather than 'New'? Typo? 'News' doesn't make sense.
There is no comma between 'sales orders' and 'invoiced', so it is not describing different numbers in aggregate. Furthermore, in a previous IMC interview, Brian said they would only be disclosing invoiced sales in future updates.
It didn't, the RNS stated 'News sales orders invoiced and delivered total....' and part of that total was 'invoiced and delivered'.
Best you just contact the company and request clarification.
From my experience with Harvest and if you do get a reply, I would expect that to say 'The Nomad is happy with the RNS', or similar.
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So why did they explicitly say 'invoiced and delivered' in the sales update?
If you think that's the case then you contact the company!
27,000 tonnes sold in H1/23? No!
You may well find they don't even achieve 27,000 tonnes in the whole of 2023!
Watch out for a further sales down-grade, IMHO of course.
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Your own post even shows the discrepancy I am highlighting:
'News (sic) sales orders invoiced and delivered total 27,000 tonnes in H1 2023 versus budget of 60,000 tonnes.'
If they are invoiced and delivered in H1, they should be accounted for in the interim results. Invoice and delivery are literally the criteria for revenue recognition.
Why don't you be the idiot that contacts the company management about this?
There is NO discrepancy between Q2/H1 sales figures and the interim results!
Look at it this way, from Q2/H1 sales RNS:
'News sales orders invoiced and delivered total 27,000 tonnes in H1 2023 versus budget of 60,000 tonnes.'
During H1 Harvest received 27,000 tonnes of sales orders.
During H1 Harvest invoiced and delivered part of the 27,000 tonnes of sales orders.
From the interim results Harvest sold (invoiced & delivered) 7,280 tonnes during H1
Simply,
during H1 Harvest received 27,000 tonnes of sales orders,
during H1 Harvest sold (invoiced & delivered) 7,280 tonnes
and
at the end of H1 Harvest have 19,720 tonnes of sales orders received in H1 that may or may not be invoiced & delivered during H2.
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Has anyone contacted management for an explanation of the discrepancy between the trading statement and interim results?
The assets of a bankrupt company belong to he creditors don t they ?
All retail shareholders would need to do is vote against anything they didn't want. Collectively , they hold an overwhelming majority.
Harvest discover phosphate at Arapua!
Lol
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As is well known Brian has specialised from taking over bankrupt companies. Not being cynical of course but the information released appears to have been designed to drag the sp down.
X 2.143
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Could be you're spot on Smalley
twice zero = zero?
Is farce a polite word for fraud?
The language of AIM stocks all rather confusing.
It's an improving picture!
From my workings, revenue for July is more than twice that of June?
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