game still on !!!, page-25

  1. 46,588 Posts.
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    And yet another twist is added to the story. Can somebody please explain why P1 have seemingly paid 5.5x current share price for company with the following caveat in their most recent half-yearly:

    "Going concern basis
    The unaudited consolidated statements have been prepared on the going concern basis which contemplates the continuity
    of normal business activity and the realisation of assets and the settlement of liabilities in the normal course of business.
    The consolidated entity has incurred a net loss after tax for the half-year ended 31 December 2011 of $992(?000) (2010:
    $1,545(?000)), and a net cash outflow from operations of $484(?000) (2010: inflow $2,357(?000)). At 31 December 2011, the
    consolidated entity has net current liabilities of $9,982(?000) (30 June 2011: $8,949(?000)) and net liabilities of $1,872(?000)
    (30 June 2011: $839(?000))."

    (https://www.nzx.com/files/attachments/154158.pdf) - link to INS half-yearly report

    Curiouser and curiouser. Gonna be a heck of a book when it's written
 
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