ALF - Allied Farmers Limited

[Snow Leopard]

Today's gem of an announcement from the crowd who are usually 'surprised':

"Allied Farmers Limited (ALF) has considered the carrying value of a number of
its loan assets as a result of recent developments relating to each of those
loan assets. In some cases a loan asset is likely to be written up in value,
and in other cases the loan asset value is likely to be written down. Whilst
the Board will not make a final decision on the carrying value of its loan
assets until it finalises the 2013 Financial Statements, the Board considers
it appropriate to advise that indicatively the net positive impact of the
assessment will be approximately $276,000."


Best Wishes
Paper Tiger

[Snow Leopard]

So Allied Farmers have put out a nice little statement about how wonderfully things are going and how the future is oh so bright to go along with the brief unaudited accounts.

What one can see is:
-- negative equity of $7.5M;
-- that even total assets do not cover current liabilities.

What I can not see is any provision for, or even any mention of, the fact that the IRD wants $4.2M off them.

But it must be there somewhere surely?
Let me know if you find it.

Best Wishes
Paper Tiger

[janner]

So Allied Farmers have put out a nice little statement about how wonderfully things are going and how the future is oh so bright to go along with the brief unaudited accounts.

What one can see is:
-- negative equity of $7.5M;
-- that even total assets do not cover current liabilities.

What I can not see is any provision for, or even any mention of, the fact that the IRD wants $4.2M off them.

But it must be there somewhere surely?
Let me know if you find it.

Best Wishes
Paper Tiger

Don't think that you or any one else will find it PT..

Must say that I do not understand why any one would waste time perusing their accounts !!..

Totally unable to understand why they are still listed..

Disc.. Yes .. I did buy some, bought on the bottom of the slide.. As one does.. Minor amount .. Written off !!.

[Vaygor1]

So Allied Farmers have put out a nice little statement about how wonderfully things are going and how the future is oh so bright to go along with the brief unaudited accounts.

What one can see is:
-- negative equity of $7.5M;
-- that even total assets do not cover current liabilities.

What I can not see is any provision for, or even any mention of, the fact that the IRD wants $4.2M off them.

But it must be there somewhere surely?
Let me know if you find it.

Best Wishes
Paper Tiger

Well it's been found now.
Why aren't the shareholders entitled to know the deal they struck with the IRD?

https://www.nzx.com/companies/ALF/announcements/241100

[The BOWMAN]

Interesting share price movement with about 100% rise in the last month. Insider trading? The value of trades are low however so not a lot of money to be made.

[The BOWMAN]

Man, another 36% increase today. Does this kind of price movement not prompt a price inquiry?

[Vaygor1]

http://www.3news.co.nz/Hanover-loses...6/Default.aspx

Hanover has lost its appeal re insurance bailing it out.... Good job.

[Vaygor1]

Wow, surging upwards. Never thought I would see the day!

Yes they are. Here's why...

Attachment 4893

Attachment 4894

[Vaygor1]

​

I admire your optimism Vaygor - you still think ALF will be around tomorrow?

… This stock has no hopes in my books and I would never chase it downwards!

... sell sell sell... there's a very real chance of belly up here...

So sad, so sad. Feel very sorry for shareholders...

Better things to do in life than to bet on a walking dead.

I wrote this baby off a long time ago - one of my early speculative shares. You live and learn.

I recently became a top 20 ALF shareholder by recently investing less than the daily fluctuations in my portfolio's market value.
ALF's market cap has more than tripled in value in the last few weeks and there are plenty of buyers and few sellers.
Chairman Gary Bluett’s interests have just injected $300k.
ALF’s creditors are happy including the IRD.

Does anyone want some cutlery?

[Minerbarejet]

All bodes well for the future. I will be looking forward to the share price being $21.34 at which point I will be breaking even.