$1 Club, page-30389

First 30389 Last

Share
Profile

Follow
adpadp

147 Posts.

14

09/05/22

16:34

Post #: 61294231
Share

Originally posted by mondyinvest: ↑

Yes, I was looking into this after the 4C. It is a bit confusing at first look but Settlement date was 30 November 2021. The 1 December 2021 announcement said that the condition precedents had been satisfied and that "the first tranche of its investment in IDSB can now be completed ("Settlement"). The payment was $20.7M, and was made the day before, on 30 November (which is reflected in the mid-March 2022 announcement update - it's the paragraph immediately below the one you screenshotted). The payment made it into the 31 December 2021 cashflow statement 4C. Also, the half-yearly reports IOU's 21% holding for the month of December only, as that was the first month of ownership.

For reasons unknown the IDSB accounts still haven't been audited. I had wondered that with an IOUpay individual now on the IDSB board it might be in IOU's interest for the auditing to keep getting pushed out (to save them having to make the tranche 2 payment in an uncertain cash position) as the language is unclear: "being the later of the completion of the audit of IDSB's FY21 statutory accounts or six months after settlement". In theory you could interpret this to mean that if the auditing isn't done after 30 May 2022, tranche 2 still won't be due. After all, if the accounts aren't audited, how can IOU determine the amount they still need to pay?

Expand

Fair point made in your last sentence. That will of course come at the expense of sacrificing our share of the extra 21% of dividends

IOU Price at posting: 8.6¢ Sentiment: Buy Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

MM1

Midas logs 17 spodumene pegmatite targets over 4km at Aylmer Project in Canada but drills while off

PYC

PYC commences new study on drug for eye condition Retinitis Pigmentosa type 11

AZY

Antipa's Minyari Dome reveals gold up to 24g/t through drilling at key prospect

OCC

Orthocell shares jump on record revenues from sales of collagen bone repair devices globally

SRL

Scandium a priority metal for Sunrise as it plans feasibility update at Syerston

There are more pages in this discussion • 1,933 more messages in this thread...

First 30389 Last

Add OVT (ASX) to my watchlist

(20min delay)
Last 0.8¢		Change 0.000(0.00%)		Mkt cap ! $9.920M

Open	High	Low	Value	Volume
0.8¢	0.8¢	0.8¢	$46	5.7K

Buyers (Bids)

No.	Vol.	Price($)
3	2049999	0.8¢

Sellers (Offers)

Price($)	Vol.	No.
0.9¢	2258000	9

View Market Depth

No.	Vol.	Price($)
3	2049999	0.008
26	5191113	0.007
15	4331895	0.006
13	4758100	0.005
5	1536128	0.004

Price($)	Vol.	No.
0.009	2258000	9
0.010	3323236	11
0.011	1250367	4
0.012	1914130	8
0.013	561417	3

Last trade - 10.06am 10/07/2024 (20 minute delay)

OVT (ASX) Chart

$1 Club, page-30389

Midas logs 17 spodumene pegmatite targets over 4km at Aylmer Project in Canada but drills while off

PYC commences new study on drug for eye condition Retinitis Pigmentosa type 11

Antipa's Minyari Dome reveals gold up to 24g/t through drilling at key prospect

Orthocell shares jump on record revenues from sales of collagen bone repair devices globally

Scandium a priority metal for Sunrise as it plans feasibility update at Syerston

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

$1 Club, page-30389

Top Stories

Midas logs 17 spodumene pegmatite targets over 4km at Aylmer Project in Canada but drills while off

PYC commences new study on drug for eye condition Retinitis Pigmentosa type 11

Antipa's Minyari Dome reveals gold up to 24g/t through drilling at key prospect

Orthocell shares jump on record revenues from sales of collagen bone repair devices globally

Scandium a priority metal for Sunrise as it plans feasibility update at Syerston

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News