what a report. looking at the comparatives shows some interesting facts... One of the common red flags is that everybody is making huge gains in LVT from contractors and related parties, management,directors, staff, bonus payments, brokers, other professionals except the shareholders who are left to scratching their heads as to how to distribute the net loss of $42M. Once again, I am highlighting some red flag areas from the report for the shareholders.
2019
2018
Net Increases
Red Flags
1
Revenue
18,091,882
5,684,565
218%
2
Other Income
4,393,967
752,699
484%
3
22,485,849
6,437,264
249%
16,048,585
4
Expenses
5
Employee benefit expense
-23,229,637
-12,386,276
88%
10,843,361
very high wage growth, more than normal CPI
6
Contractors
-16,546,673
-5,142,674
222%
11,403,999
related parties hmmm
7
Marketting Expense
-3,492,437
-2,983,985
17%
508,452
8
Travel and Entertainment expense
-3,718,675
-2,957,308
26%
761,367
9
Professional Fees
-1,980,990
-864,333
129%
1,116,657
for what…audit fees, broker costs hmm
10
Rent and Other office Costs
-2,340,742
-1,397,925
67%
942,817
11
Information Technology Costs
-880,302
-661,104
33%
219,198
12
other Expenses
-2,258,233
-722,525
213%
1,535,708
13
Depreciation Expense
-123,494
-23,480
426%
100,014
14
Amortisation Charge of Intangibles
-3,788,432
-1,391,336
172%
2,397,096
15
Share based payment expense
-9,169,722
-972,703
843%
8,197,019
no brainer here
16
Unrealised Currency gain/loss
1,944,508
1,271,105
53%
-673,403
17
-65,584,829
-28,232,544
132%
37,352,285
almost double the increase in revenue...
18
19
Net Loss before income tax
-43,098,980
-21,795,280
98%
20
Income Tax
333,391
-263,704
21
Net Loss after tax
-42,765,589
-22,058,984
94%
Amount left to be distributed to shareholders…GLTAH
LVT Price at posting:
40.0¢ Sentiment: None Disclosure: Not Held
