PEB - Pacific Edge Ltd

**Leftfield** · 27-09-2017, 10:26 AM

mmmmmmm...... hardly inspiring? Not a good look. We need much more info' IMHO. Cap Raise next??

(Disc - Not holding......thanks to Balance who it looks like was right all along)

Y17 Cashflow Statement Reclassification
Pacific Edge Limited wishes to advise of a classification change within the FY17 Statement of Cash Flows on page 36 of the Pacific Edge Limited 2017 Annual Report. The net effect of the reclassification on Net Cash Flows to Operating Activities is nil. The reclassification of expenses impacts the line items of "Receipts from Customers and Grant Providers" and "Payments to Suppliers and Employees". Each line item was incorrectly overstated by $3,247,945 and the corrected numbers are outlined in the attached documents.
The Board wishes to emphasise that this reclassification of expenses has no impact on the underlying trading results or cash position of Pacific Edge Limited.

**winner69** · 27-09-2017, 10:49 AM

Probably the bad debts provision confused them ha ha

When the money is actually paid it may confuse them even more ...so think it through a bit harder next time.

**Balance** · 02-10-2017, 10:17 AM

http://www.asx.com.au/asxpdf/2017090...0k0gh85447.pdf

Interesting to track progress of Sienna vs PEB now that SDX is a public listed company - has not set the world on fire and market cap is only A$24m vs PEB's NZ$188m.

Maybe SDX should appoint DD as CEO in charge of PR and capital raising?

**Balance** · 02-10-2017, 10:23 AM

https://www.odt.co.nz/business/pacif...-100m-forecast

Back to the glory days of $100m sales forecast and PEB being a juicy morsel which 'will be scooped up' in time by big pharmaceutical companies.

Not to forget the immortal phrase 'several tens of thousands of tests' in 2014!

No wonder the sp went bersek!

**pierre** · 02-10-2017, 11:13 AM

Originally Posted by Balance

Tick tick tick .... $4.1m or 3 months left in the bank to carry PEB to its transformative future.

Share price weakening so can you hear the begging bowl going around the institutions as it must be capital raising time, folks.

Question is - at what price? The underwriters must be pondering a 1 for 2 at 20c?

https://www.odt.co.nz/business/sales...ed-record-loss

It's September 2017.

Cash burn at $1.75m a month = $10.5m gone by now of the $14.6m left in the kitty at 31 March 2017.

Amazing this company still has a market cap of $180m!

From the ODT story:

"In the last financial year, Pacific Edge booked its largest annual loss, $6.94 million, since listing on the stock exchange in 2003, but as of yesterday retained about $10 million in the bank, which would cover operations for the coming year."

Perhaps things aren't quite as negative as you think Balance - or maybe it's time to take your abacus in for a tune-up!

**blackcap** · 02-10-2017, 11:25 AM

Originally Posted by pierre

From the ODT story:

"In the last financial year, Pacific Edge booked its largest annual loss, $6.94 million, since listing on the stock exchange in 2003, but as of yesterday retained about $10 million in the bank, which would cover operations for the coming year."

Perhaps things aren't quite as negative as you think Balance - or maybe it's time to take your abacus in for a tune-up!

The article you mention was dated 23 August 2013.

**Balance** · 02-10-2017, 11:27 AM

Originally Posted by pierre

From the ODT story:

"In the last financial year, Pacific Edge booked its largest annual loss, $6.94 million, since listing on the stock exchange in 2003, but as of yesterday retained about $10 million in the bank, which would cover operations for the coming year."

Perhaps things aren't quite as negative as you think Balance - or maybe it's time to take your abacus in for a tune-up!

PEB's track record of utterances suggest you will be sorely disappointed if you take their words to base investment decisions on!

**Balance** · 02-10-2017, 11:33 AM

Originally Posted by Balance

Looking like 2 big sellers now competing to get out. The 80k to buy at 72c has been taken out.

Let's do a brief review of what PEB is aiming to achieve in the absence of one from PEB so far this year.

http://www.nbr.co.nz/article/pacific...ream-dw-130949

Excerpt : "Mr Darling says Pacific Edge is expected to be "cashflow positive" in the US within two years. And it isn't expecting to go back to shareholders unless there is a pressing need to set up a lab in another country".

That was October 2012 - and PEB went back to shareholders exactly a year later for $20.5m in new capital. Definitely not in line with expectations!

Cashflow positive in the US within 2 years? Anyone prepared to take bets on this one?

Do I sense that PEB is busy in the background getting its story ready for the next capital raising? You betcha.

Posted way back in February 2015 ......

Developments :

May 2015 - PEB announced capital raising - $35m at 61c.

Feb 2017 - PEB announced yet another capital raise of $8m after $$$ raised in May 2015 ran out.

I READ THIS COMPANY LIKE A BADLY WRITTEN BOOK, I daresay.