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

CLB

Click for more information

0.00%

$1.10 candy club holdings limited

Possibly gave it awaywho would want a loss making business??

First 7 Last

Share
Profile

Follow
thenipisme

1,845 Posts.

182

07/02/23

11:45

Post #: 66115081
Share

Originally posted by nocelery: ↑

Re-reading the annoucement:
Has the company sold ("realised") the entire business? It is all very vague.
If so, shouldn't they at disclose the financials to shareholder just before the sale and to whom they sold it?
While this was always a high risk play and they are probably broke ... a part of me is suspicious at the lack of information and the "realised" value -even though it had apparently no value (seems like a business transfer). All this while the company traded throughout their busiest seasonal periods (Halloween and Christmas) with a large amount of inventory that would have netted a substaintial amount of cash (millions).

BEGIN Quote from announcement:
As you are aware, the Company was the 100% holding company of Candy Club Holdings Inc, which is
the 100% shareholder of Candy Club LLC. The value of the shareholding had been fully impaired and
was recorded has having no realisable value in the Company’s books. The Company’s shareholding in
Candy Club Holdings Inc has been realised during the course the voluntary administration process for
the benefit of creditors.
END QUOTE

Expand

Possibly gave it away

who would want a loss making business??

CLB Price at posting: 4.6¢ Sentiment: None Disclosure: Not Held
Upvote

0 Great analysis

Reply

There are more pages in this discussion • 6 more messages in this thread...

First 7 Last

Add CLB (ASX) to my watchlist