RAK Rakon

[Xerof]

If they have a treasurer, or even a CFO/treasurer, he/her/they are asleep at the wheel. There is no excuse for such long days to collect. I'd say the over 12 months is a likely doubtful debt, which needs to be acknowledged in the p/l sooner rather than later, preferably in tandem with a new prospectus if they are going to the market. Need to clear the decks accountingwise and managementwise by the looks.

whats inventory turn like Sparky?

who is their Broker W69?


disc: dont hold

[winner69]

hey sparks .... that negative $25m reserves shown in equity - the stuff tjhat reduces shareholder equity by the $25m ......most of it seems to be currency translation stuff

Are they waiting for the dollar to drop before it corrrects itself or something .... you understand all this stuff?

[winner69]

it takes the right poeple to make a company succeed, the Robinson's pay themselve's whatever they like. They also have total controll of all aspects of this company and do not have the skills needed to run a publicly listed company.

You can do whatever you like anyway you like to restructure RAK financail and funding but if there is not a complete change in top management you will only be prolonging the inevitable and losing more money on the way.

spot on mate ... like i mentioned profitability is the problem .... no matter how much money they throw at it unless one makes a bob on every widget they make all the new capital will disappear as well

They seem to have caught the Wellington Drive disease

[winner69]

I see Superlife has a few million shares in RAK

Superlife seem to like to dabble in these sort of companies .... Wellington Drive / Rakon to name 2

[winner69]

If they have a treasurer, or even a CFO/treasurer, he/her/they are asleep at the wheel. There is no excuse for such long days to collect. I'd say the over 12 months is a likely doubtful debt, which needs to be acknowledged in the p/l sooner rather than later, preferably in tandem with a new prospectus if they are going to the market. Need to clear the decks accountingwise and managementwise by the looks.

whats inventory turn like Sparky?

who is their Broker W69?


disc: dont hold

don't know but in the past they have used UBS a lot .... the Mogridge connection

[janner]

Too bad the company is a pure dud...

Very much like Pike River.. Why waste so much time on it.. Place the company on share watch and " Move on " As Uncle Hulun would say..

[blobbles]

Anyone noticed on NZX that the NTA of Rakon is now 80.1c? Wasn't it 90c a while back? Why the change?

[blobbles]

On the 22nd of Jan we were talking about it still being 90c (check page 70 on here), so I assume its been since then?

[Vaygor1]

Anyone noticed on NZX that the NTA of Rakon is now 80.1c? Wasn't it 90c a while back? Why the change?

Perhaps it is because RAK's tangible assets aren't so tangible...as in fabricated, just like all the other piffle they disgorge in they announcements and reports.

And in case piffle is a new term to those reading this, I understand it got its origins in 1890 from a combination of 'piddle' and 'trifle'.

[Minerbarejet]

And in case piffle is a new term to those reading this, I understand it got its origins in 1890 from a combination of 'piddle' and 'trifle'.

In 1990 it probably came from "fiddle" and "tripe" but I bow to your superior knowledge in these matters Vaygor1