report out, page-22

Anyone got any comments about what is contained in the annual report?

Is it correct to think that SLA paid $6m to buy 85% of Sibex and this report sees the Sibex accounts adjusted from showing $2.2M net profit after tax in 2008 to a net loss of $283,000, and the major difference is attributable to the fact that the Sibex "other income" on the books was not $2.5M but actually $400K?(Note 33).

Leaving aside for the moment the difference that might make to a fair purchase price, do the dates of purchase and the dates when these discrepancies were established mean that $6M was paid by SLA for 85% of a company in Siberia with unaudited accounts?

Anyway, everyone seems drunk on the announcement and not interested in the report that came out straight after it.

It is curious to me that the location of initial sales is not shouted from the rooftops, instead of just "outside Russia". The numbers are not mentioned either - not that they matter really, if there are some sales at that price, that is very good indeed.

If they do actually go on to report volume sales in Russia and associated revenue at the price quoted "within weeks", holders can type mocking posts about skeptics like me from next to the pool, or maybe get the maid to do it...

Either way, at least they have shortended the time-frame for producing results and revenue to 08-09.