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[wowyea] 10/8/2005 09:05

and when it comes to knowing what I am talking about im quite well qualified in that respect which from what ive read about you , are certainly not

[wowyea] 10/8/2005 09:04

dell so may I ask why they did not do the transaction before the year end not after it.

[dell314] 10/8/2005 09:01

wowyea - having just read your last half dozen or so posts, it is now quite clear to me that you don't have the slightest idea what you are talking about.

Do you honestly believe that a company has no idea about its own financial position until auditors turn up and get handed a large box full of bills, receipts and forecasts and set to work compiling the annual accounts??
I'm speechless, really I am.....

Please get yourself a book on financial reporting, then you might be able to join in the discussion with more sensible contributions(I can probably suggest a few titles, if you wish).

Rgds
dell

[wal footrot] 10/8/2005 08:56

i think it is generally accepted that prudence is key.

in my experience going concern is used even when it is not necessarily a textbook example.

the year end is 31 July and the state of the balance sheet, window dressing allowing, at that dat eis what is important. thus i would imagine that in order to avoid the issue the company would have to sort out financing prior to that, or at least soon enough aftr to amke it clear that the company was going to be viable over the next period.

if, as i interpret it, your question is why did the directors sort out the going concern issue before they had to? I would suggest that this was because they had to!

Would it not be risky for a company that had fiscal issues to be converting warrrants to cash to finance acquisitions?

apologies if i have missed the point

rgds

wal

p.s. apologies for my english and grammar, this post is as it fell out of my head.

[wowyea] 10/8/2005 08:49

isis, I think you will find (as you say a strange market) that the reason for the high valuation is not on current situations but on future growth potential, alot of small cap shares are valued on dcf methods and forward earnings

[isis] 10/8/2005 08:42

The valuation seems very high considerring you can buy Gladstone (GLD) for 22p.
The difference is GLD have £5-6m of assets, £8m turnover and £1m profit but is
only valued @£10m.
They are also the market leading leisure software company and have just opened
offices in Dubai and Australia.
The market is a strange place indeed.
www.gladstonemrm.com

[wowyea] 10/8/2005 08:37

wal

my Point and sorry for the english im busy person ....was that dell keeps on about the need for the warrants to allow the auditos to sign off the report without the need to qualify it in respect of going concern. Dell however forgot to tell us all that the year has only just ended (31 July)and that is will be many weeks if not a few months before the auditors even think about going concern in any detail. but dell seems to think the directors had to inject the cash in now where as if is was a going concern issue (12 month view) then the directors couls and probably would have waited untill nearer the sign off date. Would you not agree wal

[wal footrot] 09/8/2005 17:30

you may think of 'investing' in some english lessons if you want to get any answers out of dell.

i dont really know what your question was myself, and im an auditor!!

[wowyea] 09/8/2005 17:29

this one is going much higher, and i dont care what dell says after all he is deramping ULT which in my view is alao going much higher.

[wowyea] 09/8/2005 17:28

wal yes my point.....and dell seems to think the auditors needed the directors to pump cash in so they would not qualify their audit report on going concern, well i dont somehow think the auditors would know much yet as the yr only finished on 31 july. More like they pumped the cash in to use to make some investments in the future

[wal footrot] 09/8/2005 17:25

wowyea - 9 Aug'05 - 17:17 - 135 of 136

LOL!!!

[wowyea] 09/8/2005 17:22

the auditors are not about to sign anything and so there was no need for the directors to subscribe at this time to satisfy the auditors on going concern

[wowyea] 09/8/2005 17:17

Dell more to the point what you say makes no sence and that why you cant answer the simple question. Im only asking a simple questiuon which needs a very simple anser, so why cant you answer it, me thinkd because it throws your argument about going concern and the auditors completley out

[dell314] 09/8/2005 17:09

"I'm afraid I cannot divulge any sales forecasts as these are not in the market place – I hope you understand".

tiptornado - Hilarious!!

So in the recent "trading update" announcement, directors have told us that sales are ahead of their expectations but no one, apart from themselves, know what those expectations were!!

Let's think about that shall we?
Let's assume that you had enough cash to buy the whole of ADE and approached the directors.

Here's an imaginary scenario:

"Sales are ahead of our expectations", a director tells you.
"Fantastic!", you say, "What were the forecasts?"
"Secret, I'm afraid".
"Ahhh?? OK, what's the funding situation?"
"We've just put £450k of additional cash in"
"Err, why?? Are you short of cash and need it to fulfil ongoing commitments?"
"Um....., it was a nice gesture and showed our commitment"
"So the company doesn't actually *need* it?"
"Err, it might do"
"So it does *need* it, then?"
"Could we talk about something else?


Would you buy the company based on that, as you appear to have bought a slice of it, based on similar statements?

All IMHO, DYOR etc.

Rgds
dell

[dell314] 09/8/2005 17:05

wowyea - It's in the trading update RNS. Surely, you read it?
FWIW, you may find a basic book on financial reporting useful, if this doesn't appear to be making much sense to you.

Rgds
dell

All IMHO, DYOR etc.

[wowyea] 09/8/2005 16:43

only want to know it in relation to your comment about going concern you keep on about

[wowyea] 09/8/2005 16:42

ok what was the date of the warrant conversion then

[dell314] 09/8/2005 16:38

wowyea - You seem to be off at a tangent here.
It is the date of warrant conversion that is relevant here not issue date.
What are you confused about??

wal - LOL!

Rgds
dell

All IMHO, DYOR etc.

[wowyea] 09/8/2005 16:37

so dell are you going to tell me when the warrants were issued because i cant find it any where

[dell314] 09/8/2005 16:31

tiptornado - The timing of the warrant conversion suggests that they needed cash to get audited as a going concern.

The fact that they needed additional cash suggests that although sales are rising they continue to make losses and will continue to do so, going forward.

You do seem to be promoting this rather frantically, despite your assurances that you believe that the share price will rise after presenting good results(Gosh that sounds just like the garbage that you and your team were spamming across ADVFN and iii about AQL before their results!)....
If you really are so confident why not just relax, go out and take in some sunshine and come back when the results are here.
I have a funny feeling that you won't do that and you'll be here frantically trying to talk it up, until you and your crew pull out and the share price dives as the cash that pumped up the share price gets taken out...

Rgds
dell

All IMHO, DYOR etc.

P.S. It's quite amusing that ADE point out sales forecasts aren't in the marketplace, as it makes their statement that sales are ahead of their forecasts to be almost meaningless, as they are the only ones who know what they are..........

[wowyea] 09/8/2005 16:23

im still wish to know when these warrants were issued in relation to what dell says about going concern