PEB - Pacific Edge Ltd

[Balance]

Spoke to an ex-executive of one of the big international pharmaceutical companies.

He was totally scathing of the accounting 'trickery' used by PEB to inflate sales (and obviously, inflate profits or in this case, lower losses) to impress the market and investors to put in ever more capital to burn.

Now that's nothing new as similar sentiments have been expressed since PEB announced the write-offs of receivables and the change in accounting policies to recognise revenues.

What is new (to me anyway) is that he said ICP Bio (blast from the past listed NZX biomed stock) also used accounting trickery to obtain capital and funding from the market - ICP Bio would record revenues from 'sale or return' product consignments to customers and in several instances, even to its partly owned overseas affiliates! History records that ICP Bio went broke and its assets were sold for scrap value.

History tells us a lot if but we care to learn.

[winner69]

Spoke to an ex-executive of one of the big international pharmaceutical companies.

He was totally scathing of the accounting 'trickery' used by PEB to inflate sales (and obviously, inflate profits or in this case, lower losses) to impress the market and investors to put in ever more capital to burn.

Now that's nothing new as similar sentiments have been expressed since PEB announced the write-offs of receivables and the change in accounting policies to recognise revenues.

What is new (to me anyway) is that he said ICP Bio (blast from the past listed NZX biomed stock) also used accounting trickery to obtain capital and funding from the market - ICP Bio would record revenues from 'sale or return' product consignments to customers and in several instances, even to its partly owned overseas affiliates! History records that ICP Bio went broke and its assets were sold for scrap value.

History tells us a lot if but we care to learn.

it was plain to see BEFORE they announced the writeoffs wasn't it Balance


I remember a few dedicated followers trying to tell me once that real sales were what was reported as revenues PLUS what was in trade receivables. They would have got an even biggershock how poor sales really were

[hardt]

It was one of those screaming shorts you get once every so often, I was just scared of that one solid announcement that could kill me no matter how small the chances.

	FY15	FY16	FY17	1H18
PRODUCT REVENUE	1,899	4,976	8,062	4,225
RECEIPTS FROM CUSTOMERS + GRANTS	1,184	3,648	4,616	1,880
- GRANT REVENUE	-1,110	-1,281	-1,105	-538
RECEIVABLES	2,584	5,730	6,519	8,027
BAD DEBTS	xx	xx	-2,635	-674
DOUBTFUL DEBTS	xx	xx	-613	-752

[Balance]

https://lancewiggs.com/2016/10/25/wh...dministration/

That graph interested me and I thought I would do a quick think what PEB's would look like...
(along side my forecast which hopefully I will be able to revise upward dramatically after a soon to be released update , ignore the yellow, this is the parts I filled in)

Attachment 8405

How scary is this?

Forsyth Barr forecast 2017 operating revenues of $16.1m way back in October 2016.

The company reported $9.5m in May 2017 - 41% lower than forecast. Then, in May 2018, the figure was adjusted for non-sales to $4.7m - 70% less than Forbar forecast.

Share price then was 48c - so sp now should be 14c, all things being equal.

And that's not accounting for the dilutionary effect of the 2 capital raise in 2017!

[Balance]

These little bits of good news certainly do add up and reassure us that PEB is continuing to head in the right direction but, yes, it's the results of the KP trial and CMS approval that will be the confirmation we really want.

Might be 2017 before we get them though, so more patience required before more patients can get the benefit of this great technology.

In the meantime, a few more dollars will be dropping into the PEB tin. Hopefully, that will save us and some cynical non-holders on here from having to worry too much on our behalf about the next cap raising.

I'm looking forward to the half year report and I guess that's only a little over 4 weeks away....

Looks like the little bits of good news were little lollies for the believers, designed to keep them sweet for the bitter medicinal next capital raise in Feb 2017 and then, Oct 2017?

"Might be 2017' proved to be way too optimistic as it's now 2018 and DD & PEB advised 'progress is being made', after giving the big thumbs up in September 2016 that 'we are well down the track with Kaiser Permanente.'

Down the track obviously has a different meaning to DD and PEB?

You must be glad there's a few cynical non-holders here keeping the company honest and saving many newbies from losing money?

[Balance]

https://soundcloud.com/nbr-radio/pac...-breakthroughs

Just a month away from a breakthrough with one or two of transformative customers!

[kiwidollabill]

Spoke to an ex-executive of one of the big international pharmaceutical companies. <br>
<br>He was totally scathing of the accounting 'trickery' used by PEB to inflate sales (and obviously, inflate profits or in this case, lower losses) to impress the market and investors to put in ever more capital to burn. <br>
<br>Now that's nothing new as similar sentiments have been expressed since PEB announced the write-offs of receivables and the change in accounting policies to recognise revenues. <br>
<br>What is new (to me anyway) is that he said ICP Bio (blast from the past listed NZX biomed stock) also used accounting trickery to obtain capital and funding from the market - ICP Bio would record revenues from 'sale or return' product consignments to customers and in several instances, even to its partly owned overseas affiliates! History records that ICP Bio went broke and its assets were sold for scrap value.<br>
<br>History tells us a lot if but we care to learn.

<br><br>"If one does not learn from history, they are doomed to repeat it..."<br><br>I went into the old ICP Bio some years back.&nbsp; The production area is far far smaller than the the building they have.&nbsp; Pity they couldnt make it work, big market for NZ BSA - Proliant (and others) are the ones now capitalising on this market opportunity

[Sgt Pepper]

<br><br>"If one does not learn from history, they are doomed to repeat it..."<br><br>I went into the old ICP Bio some years back.&nbsp; The production area is far far smaller than the the building they have.&nbsp; Pity they couldnt make it work, big market for NZ BSA - Proliant (and others) are the ones now capitalising on this market opportunity

I am intrigued about the SP increase this week
Is it ramping, misplaced optimism, conviction buying in anticipation of take over, or is good news on the horizon??
time will tell.
Disc : not a shareholder and do not intend to be one.

[whatsup]

PEB, " appears " to be off its recent lows !!

[Ninefingers]

Is it still the dead cat bounce, or something more sustained?