IN this you are absolutely wrong. Indeed to suggest QPP financials were unsound at May 2015 is unequivocal defamation.
QPP financials at May 2015 were sound. Nearly All of QPP short ( next 2 years) term earnings at May 15 were coming from QPP PSD. At the time of the QPP PSD sale , QPP group had earnings and net bank borrowing of £54 Millions. 65% - 70% of that borrowing was covered by factored invoices . SO then banks lending to QPP were covered by factored invoices to the tune of £35,1M , probably held security over the £7M shares it held and sold shortly after the QPP PSD sale.
Therefore net bank lending uncovered exposure to QPP at May 15 was £11.9 Million ( aprox A$24M)
Forward projections pointed at 9 figure ( in A$) QPP profits.
If you wish to retract your defamatory comment on the state of affairs in a company I hold shares .....go ahead. I shall congratulate you on a professional slipup and no harm done.
Actions have consequences.
Mel ( Bunnie ears)
SGH Price at posting:
23.5¢ Sentiment: Hold Disclosure: Held
