NRZ neurizer ltd

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Legman

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19/05/24

18:50

Post #: 73902136
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Originally posted by J L: ↑

KBR, well yes and no, Legman.

Here is my take on KBR for you to run your ruler over.

I base my argument on the following three documents.

1. Annual Report - 05vkhfxn086fn3.pdf (asx.com.au)

2. April 2024 - Finance Update - NRZ_010_ASX Template FA 2

3. February 2024 - Finance Update - NRZ_010_ASX Template FA 2

From Reference No 1.

Services Contract

1. Initial Services Contract, USD 29,625,000
2. 30% paid. - forget
3. 30% owing due to work completed - USD 8,779,500
4. 40% Accruals - USD 11,706,000 - forget until further specified work is completed

Licensor Contract

1. Licensor Contract, USD 15,001,280
2. 30% paid. - forget
3. 70% owing due to work completed - USD 10,500,896
5. interest Charges in Accruals - USD 1,005,845 - forget until further specified work is completed

The above two amounts capitalised to USD 20,756,365

From Reference No 2.

5 February 2024, both parties agreed that the amount owing would be USD 20,400,000 (AUD 30,603,590)
Accruing at an interest rate of 8.32 %. ie USD 1,697,280 PA (AUD 2,546,758.19)

From Reference no3.

2 April 2024,

Generator lease AUD 83,000 per month.

In view of the above, I believe that KBR's contract was with DL and not NRZ, therefore the payment has been made by DL and they now carry the full cost of AUD 30,600,000.

With another AUD 19 million when jobs are completed.

A potential all up DL bill of approximately AUD 50 million plus.

Really, how could you put a buy sentiment on this stock.

What do you reckon, Legman, any flaws in my argument. Not a pretty picture if I am correct.

All IMO. J L.

Expand

I was referencing page 19, Note 10 of the 11 April half year accounts ANN.

NRZ Price at posting: 0.3¢ Sentiment: Sell Disclosure: Not Held
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