So, after reading the recent financial report I was tempted to ditch the last I had -but someone is buying! who would after that?
I mean the cash flow situation is better than the loss would indicate - but adding back depreciation and amortisation still brings a loss, unless the flock depreciation is a bit overstated - I think I read it correctly, that if you had no flock depreciation they would have been cash flow positive...I note the huge amout of money to run the board and top executives, that really seems to grate considering the state of the company!!!and much higher than last year!
they have agreed to sell another property for a couple of million which will help avoid another CR, perhaps; but the auditors dont seem impressed either! not sure how much other land they have they could sell - but then again that is the point -we are not supposed to know so the major shareholders board, and senior management can continue to treat others like mushrooms
any other opinions out there?
FRM Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
