No its written correctly, your interpretation of NTA is a bit off.
Let's break down NTA.
'Net' means its a figure of the company's assets after accounting for total liabilities so you can't just take Total Non Current Assets and divide by number of shares. It needs to incorporate the liabilities.
'Tangible' means physical assets that can be converted to cash. Think trade and receivables, inventories, plant and equipment and even cash itself. It does not include 'Intangibles' which you've included in your Total Non Current Assets figure.
So total assets as at 31/12/2017 is $120,018,965, minus intangibles of $97,078,619 is $22,940,346. This is the 'Tangible Assets' if you like.
Then minus total liabilities of $11,675,068, which is $11,265278. So Total Net Tangible Assets is $11,265,278.
Then divide by number of shares for NTA per share. $11,265,278 divided by 2,673,159,995 (gosh that's a lot of shares!) equals $0.004214, otherwise know as 0.42 cents per share.
There is no smoke and mirrors. Unfortunately for CCE, they have bugger all tangible assets which is why building cash generating assets such as GIMG and Northam Solar are so important. This company is being priced by the market at pretty much only what CETO is worth. And don't get me started on how corporates value intangible intellectual property on the balance sheet. Its shady reasoning at best. But thats not a CCE thing, thats all companies which have an R&D component.
CCE Price at posting:
3.8¢ Sentiment: Hold Disclosure: Held
