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1441-1460 of 2220
its kinda like they already agreed on the deal but just waiting to settle paper, hence the auditing part.
The Board wishes to announce that the Company has, on 27 February 2013, agreed with YuuZoo to extend:
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(a) the long-stop date for finalisation of the Definitive Documentation in relation to the Proposed Transaction to 15 April 2013 (or such later date as the parties may agree in writing) and -
(b) the expiry of the exclusivity period in relation to the Proposed Transaction to the earlier of (i) the execution of the Definitive Documentation in relation to the Proposed Transaction or (ii) 15 April 2013 (or such later date as the parties may agree in writing).
The Company and YuuZoo have agreed to the aforesaid extension to allow YuuZoo sufficient time to complete its audit in accordance with regulatory requirement for the financial year ended 31 December 2012.
Previously, they announced that they want Yuuzoo to have time to complete its audit... why everything so proper if they dont want it to go thru?
What seems to be shit announcement will turn out good. sgx is this weird recently, good news, shares drop. bad news, shares up. TMD
Tmr need to monitor closely
Auditor said company might go bankrupt cos contel is depending on the company funds to survive. Debts more than assets.
But if RTO is to go through, there will be cash injections by director? Plus funds from yuuzoo? Otherwise, why yuuzoo willing to go through RTO with contel.
But if RTO is to go through, there will be cash injections by director? Plus funds from yuuzoo? Otherwise, why yuuzoo willing to go through RTO with contel.
iluvboost ( Date: 08-Apr-2013 21:04) Posted:
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the other document, i cant paste cos its balance sheets. discrepancies.
vested, but tmrw will decide whats to do with my lots.
iluvboost ( Date: 08-Apr-2013 21:33) Posted:
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Going concern
The Group incurred a net loss of US$1,121,000 and net cash used in operating activities of
US$556,000 for the financial period from 1 April 2012 to 31 December 2012. Furthermore, the
Group’s and the Company’s current liabilities exceeded current assets by US$1,090,000 and
US$1,347,000 respectively as at 31 December 2012. The Group is reliant on its existing cash
and bank balances for its continuing operations which show a balance of approximately
US$138,000 as at 31 December 2012. These factors indicate the existence of a material
uncertainty which may cast signifi cant doubt about the Group’s and Company’s ability to
continue as going concerns. Management has prepared the financial statements on a going
concern basis in view of the following factors:
- The Group expects to be generating profi ts and suffi cient positive cash fl ows from its
operations in the next twelve months and
- The Group expects to raise additional funds from the issuance of equity linked
redeemable structured convertible notes in the next twelve months.
If the Group and the Company are unable to continue its operational existence for the
foreseeable future, the Group and the Company may be unable to discharge their liabilities in
the normal course of business and adjustments may have to be made to refl ect the situation
that assets may need to be realised other than in the normal course of business and at
amounts which could differ signifi cantly from the amounts at which they are currently recorded
in the balance sheets. In addition, the Group and the Company may have to reclassify noncurrent assets and liabilities as current assets and liabilities. No such adjustments have been
made to the fi nancial statements.
1963411 ( Date: 08-Apr-2013 21:08) Posted:
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iluboost, what did I miss? Please enlighten.......
iluvboost ( Date: 08-Apr-2013 21:04) Posted:
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terence, are u sure? read the 2 announcements carefully.
terencee ( Date: 08-Apr-2013 20:03) Posted:
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Glad you piece everything up!
Congrats to us then.
Congrats to us then.
1963411 ( Date: 08-Apr-2013 19:57) Posted:
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I got a feeling that the RTO deal is really going to go through (Disclaimer, I am not promoting the stocks to buy). Merely expressing personal view.
I just feel like all these things (announcements like issuance of auditor's report, etc) are rushed to complete during this sensitive period. Who knows one of the conditions for the RTO to be completed is finalization of audit etc... 15 April 2013 (which is coincide with personal tax filing date too) is just around the corner!
Cheers!
terencee ( Date: 08-Apr-2013 19:50) Posted:
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Thanks man.. I couldn't spend time reading cos not convenient to stare into my phone
1963411 ( Date: 08-Apr-2013 19:28) Posted:
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ok sounds legit. Contel mush really push for the RTO to go thru now.
1963411 ( Date: 08-Apr-2013 19:40) Posted:
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Nope. To me it is quite a standard wordings....
With the RTO deal going through, there is no " going concern" issue at all. I think because of the sensitiveness of the proposed transaction and it has not been publicly announced, the auditor is not able to mention it in their report.
first announcement not serious meh? it sounds like there are doubts on the company's going concern. Unless they reclassify long term assets to current assets
First announcement today - Auditor's report of Contel corp issued on today. The auditor has made certain " minor comments" in their report as the Company has negative net assets, etc. Nothing significant.
Second announcement today - The Auditor has made certain " adjustments" to the Company's unaudited results for the financial year ended 31 Dec 2012 as previously announced. The adjustments made by auditors increased the Company's profit for the year and net assets as compared to the unaudited results.
terencee ( Date: 08-Apr-2013 19:19) Posted:
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There R new contel announcement. 2 new ones. I don't have time to read. Perhaps someone wanna read up first
Stock market is a free market. People can play any style they like.
Free style, no style or block style. That's up to them.
You sound very 007..
terencee ( Date: 08-Apr-2013 16:55) Posted:
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If you all notice, the buy ups are not in blocks of 1000. They are always less than 1000. But when people throw out, its in blocks of 1000. Someone is buying up a lot and making sure he is off the radar. Look at the buying qty and you will see something.
IMO the weak sell queue could be due to the flushing of buyers who bought at 0.06x. Let's see how things turn out tmr... If Dow closes green tonight, tmr will be D-DAY!