Australia's largest stock trading and investment forum Australia's #1 stock forum

HML

Click for more information

0.00%

$1.99 henry morgan limited

How is this sort of nonsense even legal?

First 3 Last

Share
Profile

Follow
Hingdog

22,844 Posts.

1409

29/03/18

13:12

Post #: 32118838
Share

Originally posted by ansgar ↑

You could see the quality of these "mercantile services" businesses in earlier reports when they bought them. Weak businesses, related parties, purchased with high goodwill for low consideration. Fast forward a year, and the businesses are revalued at ridiculous levels. Huge "profit" but no cashflow. Meanwhile, over $6 million in REAL cash is stripped out to the Manager in performance fees.

Does this look normal to you?
On 8 July 2016 the Company loaned $900,000 to Mr Bryan Cook, a Director of Risk and Security Management Ltd (R&S). The loan was secured against 600,000 of Mr Cook’s shares in R&S. On 1 March 2017 the Company accepted Mr Cook’s 600,000 shares in R&S as settlement of the loan, being a total consideration of $600,000. A loss of $334,311 was recognised on the transaction

Expand

How is this sort of nonsense even legal?

HML Price at posting: $1.99 Sentiment: Sell Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

Eurozone-based companies find new ways to secure a regional lithium supply

Time for retail therapy buying in the shopping Scentre for hot stocks

With financials holding the fort, materials must step up with some heavy lifting to stimulate stocks

End of FY is a time to juggle wins, losses and capital gains taxes

SS1

Sun Silver submits US$60M Silver Paste Funding Application to US DoE

There are more pages in this discussion • 1 more message in this thread...

First 3 Last

Add HML (ASX) to my watchlist