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Naked Trader had this on his blog yesterday.
"Excellent results from K3C just pushed the share price up a bit - given profit, dividend hikes, a good outlook and cash in an ordinary market the shares would probably have risen 25%.
Still K3C is one to hold onto and look to buy more once the market heads back up.
In the meantime it goes ex for a very decent dividend shortly.
I suspect big rises for this one when the market turns."
Despite those results it looks like Yu will follow the usual pattern. This must be the most frustrating share I hold.
I wouldn't be surprised if it ends flat, nothing surprises me with it by now.
I can't see what more Yu can do.
My only hope is the press picks up on the results and it gets some publicity.
More funding needed. Note 'will' rather than 'may' require funding.
"The nature of the Company's strategy means that the precise timing of milestones and funds generated during the early years of development projects are difficult to predict. The directors have prepared financial forecasts to estimate the likely cash requirements of the Company over the next twelve months from the date of announcing these condensed consolidated interim financial statements. These forecasts show that the Company will require additional external funding within the twelve-month forecast period to be able to continue as a going concern."
I'm just showing what was reported in the press. e.g.
https://www.thisismoney.co.uk/money/markets/article-11222055/Mothercare-warns-run-cash-customers-tighten-purse-strings.html
Stories in the press about running out of cash.
Not immediately obvious from the results, but way down is this section.
The Sensitised scenario assumes the following additional key assumption:
· A delayed recovery that assumes that retail sales remain subdued throughout the majority of the forecast period as a result of consumer confidence returning more slowly post COVID-19, coupled with the potential impact on customers' disposable income due to the current heightened global economic uncertainty.
The Board's confidence in the Group's Base Case forecast, which indicates the Group will operate within the terms of its revised borrowing facilities, which now includes more appropriate covenants following the cessation of the Russian operation and the Group's proven cash management capability, supports our preparation of the financial statements on a going concern basis.
However, if trading conditions were to deteriorate beyond the level of risks applied in the Sensitised forecast, or the Group was unable to mitigate the material uncertainties assumed in the Base Case Forecast and the Group were not able to execute further cost or cash management programmes, the Group would at certain points of the working capital cycle have insufficient cash. If this scenario were to crystallise the Group would need to renegotiate with its lender in order to secure waivers to potential covenant breaches and consequential cash remedies or secure additional funding. Therefore, we have concluded that, in this situation, there is a material uncertainty that casts significant doubt that the Group will be able to operate as a going concern without such waivers or new financing facilities.
I was wondering about some of those larger trades a few days ago. Marked as sells but near enough the mid that they could have been buys and they got a good price. If they were buys, perhaps the bit of activity lately has been them taking a quick profit.
Whatever it is, at least there's some activity, it's been far too quiet for too long.