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It's a joke now. The local market is clearly a massive issue to trading but the reporting has now descended into farce
... up next?
Any ideas?
Good Look
Glad I got out months ago.
Brian wants this company back
Who knows. Whatever the reasons are, there is absolutely no excuse for not providing an explanation. As is normally the case, yet another HMI RNS provides more questions than answers
Generally, I'd be absolutely for the Nomad having detailed conversation directly with the Auditors, with Brian not being involved in any way in this....
'Incompetence' in term of lack of understanding or focus of what's going on 'on the ground' in his business would be more the way I see it than 'bent' btw
Having already had plenty of corrections/amendments from auditors in the previous history of hmi.l, why would BM incorrectly put out an 27k h1 invoiced and delivered RNS a few months back, when/if he knew auditors were going to decimate that figure soon after when compiling the half yearly accounts.
My thinking is KP Fertil was invoiced invoiced and delivered to that 27kt quoted in that end June RNS.. BUT, en masse, not paid for in the first half period .. hopefully part/all paid for in a future period eg after harvest ..etc... but maybe plenty was 'returned' unpaid for whatever reason(s).. eg the market price for the product was brought down again and again across May June July August and those who had bought at much higher prices refused to pay and told them to take it back ..or maybe something else like farmers and or the market is so strained generally that the Banks that had arrangements for lending to farmers to buy the product from hmi and the farmers paying those banks back after they'd sold their harvested crops withdrew from offering such arrangemente in recent months.. etc....
F15jcm.......It makes no sense....How can they get away with treating Investors in that disgraceful manner???....I was interested at 1p or less...Now see this going to 0.1p ....
do you go from having sold (invoiced & delivered) 27,000t in the h1 trading update to only having sold 7,280t in the h1 results? there is not even a half ****d explanation given. i'm beginning to agree with some others in that brian is bent. he needs to be disqualified as a director as he clearly isn't fit to run a corner shop let alone a publicly listed company
Sold out years ago at 10p due to lack of trust in the management
bought back in last year at 4p -could have got out at 16p but didn't
just thrown another couple of grand in at 1.34p
expect Smalley will tell me it's down the drain but the optomist in me is looking at a bottom
still looking at a 2p buyout by someone's mate
Total sales orders received for 2022 was 172,000 tonnes
FY 2022 invoiced sales to 150,422 tonnes KP Fértil®
Its not just the 33k thats floating around
We still have a significant tonnage , 22k , which was part of the 172k for the year.
Surely a large enough tonnage to warrant an explanation
I hadn't even got around to thinking about that 33k carried over from 2022 .. i'm in such shock/trying to process the 27k vrs 7 odd k
I am keeping an eye on this one.I did say it could go to 1p and I might invest at that point....But only if I can see a recovery....I cannot see that ,right now,,,,
One thought that eventually came to me was that a lot of product they had invoiced and delivered -later - in half 1 was just not paid for in the end for whatever reason(s) .. and so figures had to be revised way down subsequently to that 30th June RNS ( returned as farmers changed their minds on wanting it / or those farmers had cash flow problems and couldn't pay ...etc..)
And the '33kt'?
Good Look
Niceto...
Copied from a previous post:
The 27,000t refers to Q1/23 sales orders of 16,755t plus Q2/23 sales orders of 10,245t making a total of 27,000t for H1/23.
The RNS stated: 'News sales orders invoiced and delivered total 27,000 tonnes...' rather confusing but that was the point.
Niceto...
Shocked? No. But I am baffled!
Even Smalleyus will be shocked by these figures, I expect
And more generally he has been the most 'in tune' poster here by GALAXIES for most of my time here. I again tip my hat to you Sir; and while I always listened somewhat to you and more and more as I went too, I now wished I'd listened much more again.
A question to Smalleyus, if I may:
Todays RNS : During the half-year ended 30 June 2023, Harvest sold 7,280 tonnes of its organic fertiliser, KP Fértil®,
30th June RNS : ''News sales orders invoiced and delivered total 27,000 tonnes in H1 2023 versus budget of 60,000 tonnes.''
Can you further help me understand the differences in the above please?
Thanks
Michu
Well! well!!
so Smalley got it wrong by a huge percentage
but it's even worse than he thought
big bad smell all around these numbers
someone is going to take this out at 2p a share
should have sold up last year
ugh!!
I sense manipulation here , not just the figures but the way they are being presented when you look into the figures closely.
Would not surprise me if this was bought privately or by some other 'friendly' company.
"sales to date in 2023 have remained below internal expectations. This is attributable to a reduction in volume demand by farmers who are less incentivised to boost production whilst crop prices are low and energy prices are high. Accordingly, the Company's 2023 full year invoiced sales target is now 70,000 tonnes of KP Fértil®. Furthermore, the impact on Harvest's financial results has been exacerbated by a reduction in the price of its product, which it has lowered to follow the market and try to encourage farmers to recommence buying."
Imo there is a really bad smell coming from Brian and HMI......is there any independent evidence that farmers in Brasil are growing less food with less fertilizer? Please post reliable data to back this up.
27kt? Lol
Good Look
Sold up gla
The scandal (accounting or production) has yet to be revealed. I suspect the published numbers. My fear is that product has been leaking out of the storage facility in some form of scam hence the depressed sp. HMI does not smell right imo.