RE: Total agreement26 Mar 2024 07:59
Its a bit like clockwork and you can almost set your watch by it. We wait 6 months with no news and then they issue a profit warning. Not entirely unexpected but looks they are writing off a lot of debts from suppliers, codeword for backhanders, but i move on. Board meeting is 28th. the other news was about our debt for equity deal that does appear to have been profitable so there might be a small glimmer of positivity, although our duo is joining the board so i do wonder what they are now up to. https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0322/2024032201713.pdf
I just hope the cashflow is reasonable and this loss is more about tidying up the accounts and not about a lot of cash exiting the building. I remember years ago being concerned about impairments and i should have known where this was going once you understood how the duo operated with their mates and how deals were “organised”. We live and learn and we will need to hope the current year brings back a profit or we have some positive update in the outlook that takes the market cap above the current £7m.