Who can say? The reports read as if they are written by lawyers. Which I guess they are...I wonder how much of the price reaction is people latching onto the understandable parts only?
I have read the report three times and I think the summary is
1. We keep finding good investments to plough money into, and investors keep giving us money to plough into the funds. 2. There has been some delay in some of the matters in some of the funds reaching finalisation. They will go to trial rather than settle, so the return is pushed off into 23/24 3. There has been an appeal from one of the matters we believed to be successful, meaning the company has marked down the probability of the return. 4. Fund 1 is complete and into the cash return cycle. We are paying out to the investor first. Then the company gets the rest. We negotiated an early exit with a 3rd party for an early cash win.
Finally, we received (and will receive) a good amount of income for this quarter and the resulting year so far. Everything seems to be on track.
Am i on the right track?
OBL Price at posting:
$4.01 Sentiment: Hold Disclosure: Held
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