I think it could be an error.
If Soco never paid their share then the JV would have been owed money and booked a receivable. When they went belly up the JV probably wrote the receivable down/off. That should be recognized in the loss for the period. Yet the report says the JV is profitable.
Alternatively, the Net Assets shown is incorrect and should be $5m higher and our half share is correct. That might help explain why VMT would pay $6.5m to settle with the Receiver. $5.3m for the 50% of Net Assets + $1.2 for the IP.
I think it could be an error. If Soco never paid their share...
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Last
12.5¢ |
Change
-0.005(3.85%) |
Mkt cap ! $52.27M | |||
| Open | High | Low | Value | Volume |
| 12.0¢ | 12.5¢ | 11.5¢ | $16.87K | 140.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 101173 | 12.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.0¢ | 529397 | 3 |
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| Last trade - 14.43pm 30/08/2024 (20 minute delay) ? |
| VMT (ASX) Chart |