Member Info for Thunder2040

I'm am too and I am telling you, the accounting policies are IFRS compliant!

I know, but the report is full of total crap!

Not surprised, as I have just pointed out some of what is in that report is fundamentally incorrect!

Furthermore, surely backing out previous FV mark to market adjustments and then showing the full net realised gain as proceeds less costs is not exactly hard to grasp - they are inferring it is like rocket science and that it is somehow wrong. Doesn't look wrong to me, all the gains and losses are hitting P&L - nothing left on the balance sheet. I will say this, the short report is written by finance people largely about accounting issues. Honestly not sure they actually understand a lot of of the financial reporting issues given some of the stuff they have written.

- Report states dividends are part of finance costs - wrong, they are discretionary distributions from reserves.

- States there are $880m of capital commitments - max figure for 3 years I believe and unlikely to be an issue re: solvency as no mention of this in audit report?

-States high turnover of CFO - well the first person they list, the CFO from 13-14 was actually there 2 years and spent 2 years in her previous 3 jobs at other companies, so clearly not unusual for them to move on! Next guy, similar, lasted 1 year in his prior position according to linkedin so I am not really sure what their point is there either.

Report goes on to criticise using level 3 financial instrument accounting - well hello, marking to market is more transparent than cost accounting! What do they want, just leave any type of update until the case closes? Plus half the information used to determine the financial value of the pending cases will sensitive - but it will be audited so I am not sure what their issue is with this?

This is all just after page 1 of the report.

DYOR

Looks like you are a strong sell on anything apart from African gold mines - lunatic!

https://www.proactiveinvestors.co.uk/companies/news/900291/burford-capital-s-mojo-not-working-after-muddy-waters-short-attack-900291.html

They are loaded with top lawyers - so do we really think they are in the business of fraud via misreporting? I think not. This is a step too far for this cowboy short outfit IMO

Well you pay your money you take your chance. GL long or short

Look mate, you don't close a massive fund raise with a sovereign wealth fund and count multiple IIs as your investors and have a big 4 auditor if you are crooked - they have been around 10 years. Funny that this just comes out round about the time everyone is having a pop at any Woodford owned stock. You will see.

My point is none of the arguments are about anything that isn't in the accounts!?

Funniest thing ever is publishing a critique of a company's publicly available, big 4 audited, IFRS compliant financial statements...and thinking you have unearthed some kind of whopper!? HAHA

Volatility I think, can only seem to get quoted on £4k order size to buy earlier

Additionally, cash doesn't lie and they have a load of it!

I agree it is stupid, because all the numbers were already published in the audited financial statements. So it is basically an opinion piece on the accounting policies.

Big 4 auditor as well - so I really don't think they have done anything wrong. Aggressive accounting maybe a tad - but cash in the bank - so go figure.

Talk about vested interest. If a neutral party or whistleblower had published a report maybe it gets a look - this is just pure and utter manipulation - can't believe it is allowed! Audited IFRS financial statements - so if you are saying they are wrong you are indirectly accusing the auditors. Expect this to bounce back to where it was tbh!

Paul

Do not fret. Your shares will be held in segrated client asset accounts along with your cash as per FCA regs.

b

Was not that surprised to hear this news...I have now got reservations about whether board have a plan B. Expect that this could go lower once news sinks in - anyone calling it an entry point should be very careful IMO. Without that money expect tools could be downed.

How good are gaming co's like GVC as defensive plays if the economy does take a turn for the worse? Do people expect revenue to hold up in such a scenario, interested to hear thoughts?

We can differ on this point, but the fact is the bonus payments were made as a result of a deal that generated less revenue than the payments themselves - so I have seen enough.