Did some digging in this report yesterday, I have to admit my decision to jump in was too inconsiderate and it is indeed a lessons learnt to me. Anyway, dumped all shares today (circa 20% of total trading vol with $450 loss lol what a joke)
To help the others have a better understanding of this scum and fraud company, please be aware don't be fooled by the misleading summary page in the financial report, in particular:
- when they claim they achieved 21m USD in NPAT, don't believe it! Their calculation is very dodgy, they shifted heaps expense to investment so while you see a pretty NPAT in the first page, you will soon find their cash on hand actually reduced by 7m - what a joke smart ass.
- if you dig into the report, you will find jokes everywhere, reduced commission from 30% to 20%, labour cost increased substantially, and the list goes on and on, nothing in there is of shareholders interest and they just gave away money like its never theirs, oh I forgot, it's actually ours, of course.
with the dishonest financial report, dodgy calculation methodology I've never seen, 2 consecutive years of big profits, and at the same time the total cash on hand reduced from 59m to 21m, I concluded this company is an absolute scum - stay away!
- Forums
- ASX - By Stock
- Ann: Appendix 4D - Half Year Report - 6 months to 31 December 201
Did some digging in this report yesterday, I have to admit my...
-
-
- There are more pages in this discussion • 8 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add CDC (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
MTL
MANTLE MINERALS LIMITED
Nick Poll, Executive Director
Nick Poll
Executive Director
SPONSORED BY The Market Online