Ann: Company Update-SRF.AX, page-158

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jamwolf

5,217 Posts.

31/08/16

12:05

Post #: 18820572

Originally posted by mickeebee ↑

mais oui...

crazy acct!

Column 1 Column 2

1 gross profit $ 84,095

2

3 Selling & distrib expenses ($ 101,268 )

4 Admin expense ($ 49,237 )

5 ($ 66,410 )

COST MORE TO SELL THE ITEMS THEN "PROFIT" MADE!!!

after just sellimg & distrib expenses of $100M, cancels the ENTIRE GROSS profit! let alone a further $49M of admin....

that is just the tip of the surface....even the captain of the titanic didnt see what was hiding under the surface...

NTA of 12c based on non cash deferred tax, property plant, intangibles and goodwill which total ~ $25M.

Current assets like cash barely cover the payables, and if you exclude inventory, dont cover them at all!!!

Expand

Horrible numbers, agreed. But sales and admin expenses have been slashed. Plus, SurfHardware which they bought for $23m not that long ago must be worth $15m plus.
Conclusion, the equation is likely to look a lot better in 6 months time.

SRF Price at posting: 13.0¢ Sentiment: Buy Disclosure: Held

1 Upvote

0 Great analysis

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Add SRF (ASX) to my watchlist

	Column 1	Column 2
1	gross profit	$ 84,095
2
3	Selling & distrib expenses	($ 101,268 )
4	Admin expense	($ 49,237 )
5	($ 66,410 )

Ann: Company Update-SRF.AX, page-158

Top Stories

Chaos reigns markets – so let's take stock of where we're at ahead of December

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

Australian Rare Earths bullish on early-stage uranium potential at Overland, SA

Southern Cross Gold zooms in on 9 new high-grade zones above 20g/t at Golden Dyke

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

Watchdog takes Webjet to court over alleged 'false' flight prices with hidden fees

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

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Chimeric clocks $4.17M R&D tax rebate from Canberra