Net Tangible Asset Backing The consolidated entity’s net tangible asset backing per ordinary security for the current period was nil (previous correspondingperiod: US$0.02).
So sh own nothing? Let's see if anyone out there can make sense of this performance. _________________________________________________________________________________________
In accordance with Chapter 19 of the ASX Listing Rules, net tangible assets per share represent total assets less liabilities ranking ahead of, or equally with, ordinary share capital, divided by the number of ordinary shares on issue at year end.
Chapter 19 Interpretation and definitions+ See chapter 19 for defined terms1 December 2017 Page 19
A =total assets. In calculating this, the value of investments at the end of the month are calculated at “net market value” (that is, the amount which could be expected to be received from the disposal of an asset in an orderly market after deducting costs expected to be incurred in realising the proceeds of the disposal). The value of investments, except quoted +securities of listed entities, is calculated at cost or valuation. Valuation must not exceed the recoverable amount. Note: The net market value definition is taken from Australian Accounting Standard AASB 1023.
I =intangible assets.
L =total liabilities ranking ahead of, or equally with, claims of that +class of +securities. In calculating this, total liabilities include each of the following.•Provisions for tax on realised income and gains.•Provisions for tax on estimated unrealised income and gains. Alternatively, the entity may disclose the net tangible asset backing per +security before and after providing for the estimated tax on unrealised income and gains.•Provisions for declared, but unpaid, dividends or distributions if the +securities are still quoted on a basis that includes the dividend or distribution on the date on which the net tangible asset backing is reported.•Provisions for unpaid management fees earned.Example: Liabilities ranking ahead of, or equally with, fully paid ordinary shares in a parent entity will include all liabilities, preference share entitlements, and outside equity interests.
N =total number of +securities on issue in that +class. In calculating this, partly paid +securities which are in that +class when paid up are taken into account by assuming that the unpaid amount is paid.
PSA Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
