QEX - QEX Logistics

[Ace]

The way they state accounting impacts you’d have to assume QEX owns the stock that’s gone missing

Owned*

And it would be good to have clarity on if they have to pay duties for stock that have left the bonded warehouse. As I understand, from my research - the warehousing facilities are responsible and customs usually expect this payment even if stock has been stolen.

[winner69]

Owned*

And it would be good to have clarity on if they have to pay duties for stock that have left the bonded warehouse. As I understand, from my research - the warehousing facilities are responsible and customs usually expect this payment even if stock has been stolen.

Indeed ..owned is the correct tense.

[sb9]

The fact that it's singles day and is the biggest sales event - yet QEX tipped off that current inventory levels is enough to service demand is a sign of diminished sales in my view. Infact, in China the sales run for the 11 days from the start of Nov. The reason we had such inventory was 1) Chinese preferred to buy stock already in China and 2) In preparation of Singles day. The fact that half of our inventory went missing yet we can meet demand operating on that...doesn't sound optimistic in my view.

The cynic in me believes that the stock is siphoned off the premises and sold in black market. Whether its done by insiders to pocket money personally at shareholders expense remains to be seen. Lots of smoking mirrors here and Ronnie needs to come clean or else it will be curtains down.

Disc - No longer hold

[nztx]

Indeed ..owned is the correct tense.

The Loss appears to be owned .. from their releases..

but wouldn't the same position be the case for borrowed stock, consignment stock etc etc ,
where obligation to pay for it exists ?

but then again we've all heard of some curious scenarios on stocks - losses, invisible stocks,
accounting & valuation stuff-ups on the inwards and or outwards movement, or just a simple
matter of stock in transit not being accounted properly.


The past champion of curious stock issues / mysteries would have to none other than STU - wouldn't it
and a Cap Rase then ensued, if I'm not mistaken a few years back to bridge the fiscal hole ..

[whatsup]

So when do we know what the results of "singles week " has been?

[whatsup]

With its M C of $18 million is QEX a take over target, Mainfreight, or other companies in the freight business ?

[ziptie]

How tho if Ronnie holds most of the stock?

[sb9]

With its M C of $18 million is QEX a take over target, Mainfreight, or other companies in the freight business ?

I highly doubt that with so many dodgy characters in that outfit, can't trust them. And what's moat anyway for a takeover flavour, bunch fishheads!!!

[CROESUS U.T.]

I highly doubt that with so many dodgy characters in that outfit, can't trust them.

suspect MF has dealt with a fair share of dodgy characters in the past, and it does have an ex-polly on its board

[nztx]

How tho if Ronnie holds most of the stock?

Exactly - who knows - he may hold on until a burning ship burns down to the waterline trying to rescue things as well