Ann: Half Year Accounts and Appendix 4D, page-20

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retiredyoung

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28/02/17

14:33

Post #: 22974692
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Originally posted by West Coast ↑

...................... 2016 2015
TOTAL NON-CURRENT LIABILITIES 9,569,276 12,864,939
TOTAL LIABILITIES 21,657,174 28,738,689

Overall, not too bad as we have already accepted the headline figures. I went straight to the dirt when deciding what to write on HC. They sometimes use creative accounting by simply not paying bills or deferring. Does not appear to be the case here. Debt only up 600K for the quarter before stopping cash burn was an issue around October/ Nov. I'm far from being an accountant and never really understand liabilities, seems to be open to manipulation.

Australian DCB appears to be running at profit, putting a halt on overseas expansion in DCB is prudent until earnouts and the court case are resolved. Survive and grow internally in the profitable parts of the business and slash costs in every area of the cash burning parts of the business. Push back to growth in a year or two only if all is well. This is why I think throwing any money at Clipp now is not the best move though I do not fully understand its potential.

Can someone please explain the liabilities? Does this mean MBE owes 21.6mil? I assume these owings are all factored into the current accounts as expenses? At least it is far less than this time last year.

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Hi West Coast

Can someone please explain the liabilities? Does this mean MBE owes 21.6mil?

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Yes, MBE does owe $21.7m but the non-current liabilities do not have to be settled within twelve months of the reporting period.

MBE Price at posting: 6.2¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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Ann: Half Year Accounts and Appendix 4D, page-20

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