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

PSA

Click for more information

0.00%

2.1¢ petsec energy limited

Ann: Half Yearly Report and Accounts, page-7

First 7 Last

Share
Profile

Follow
Should Know Better

279 Posts.

31

28/08/18

14:05

Post #: 35236085
Share

Originally posted by miningnut ↑

The finance expense of $US 3.3mil comes from the creation of a long term liability 'Fair value of derivative instruments' of a similar amount. From my reading of this, it is calculated on the difference of the share price at 30June(20c) to the Conversion price of the Convertible Note of 12.5c. We have given away this benefit so the liability must be recognised under accounting standards.
In other words, it's only a book entry and most would say it is neither a financial expense nor a liability and will evaporate when the share price retreats to 12.5c.
Having said that, the rest of the accounts are not healthy and you would expect they will have to do a capital raising before the end of the year.
The Yemen govt having doubts over our capacity to operate there is worrying and I hope we see a positive resolution to this swiftly.

Expand

Would it be unfair to suggest that Yemeni Government doubts could be allayed with receipt of the contents of a brown paper bag?

PSA Price at posting: 14.0¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

LYN

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

EDE

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

AN1

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

BNL

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

GRL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

ME1

Banshee's historic trenches prove rich in antimony and gold for GDM

Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks

HotCopper Highlights: Your most watched stocks for Week 46, 2024

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

AUN

Cyclone signs MOU with Vale for development of Iron Bear play

There are more pages in this discussion • 26 more messages in this thread...

First 7 Last

Add PSA (ASX) to my watchlist