Mcy56:

You know, what I read here earlier was that they sold off assets to pay diamond debt, whereas diamond/access debt was a waiver.
You see what I was saying about sentiment? Nsempas are not even ready to look at what the financial book was saying at all. This doesn't look good enough.
I mentioned it sometimes ago that analysis of audited financial books have long been replaced with mere speculations, assumptions and sentiments here.

Some info

stcool:


Some info

Mcy56 here is the answer to your question

After this Access/Diamond loan restructuring with assets. What remains in Japaul?

Mcy56:


System will automatically cancel the remaining quantities.
You have to place a fresh order in the next trading day at your desired price.

Thanks. Tomorrow is another day.

Care4:


Pa, please can you highlight 3-5 non-banking/financial stocks one can keep on the watchlist for good dividends?

Ucap, APR, UPDC REIT, MTN at N110 and below, Lafarge at N12 and below, GSK @ N7 and below, Custodian and Allied, AIICO, Carverton at N2.00 and below, Guinness at N20 and below.

Mainly for cash flow, and can book profit when and if the need arises

Continue to monitor their quarterly performance

OBAGADAFFI:


Mcy56 here is the answer to your question

After this Access/Diamond loan restructuring with assets. What remains in Japaul?

There will be a right offer, this will prevent the funeral of the business

Diamond advanced about 66m dollars to JAPAUL for its operations. Unfortunately, the cash flows of the business could not service these loans and thus accumulated about 11m dollars in interests and penalties. When Access Bank took over Diamond, as per say Access bank managers no dey waste time, they demanded for their money and went all out to recover what was feasible. The way bank loans work sometimes is that you may continue to repay the interest on a loan without covering much of the capital. Banks will continue to charge and build up interest. At a time Japaul took Access Bank to court because of excess charges and that must have accounted for certain charges that were no longer required and had to be written back to income. https://www.proshareng.com/news/Frauds---Scandals/Access-Bank-vs-Japaul-Plc---FHC-Judgment/45247

I am not sure if Access bank has been able to get cash proceeds for all the assets disposed of. I think Access settled for a final payment of around 38b Note 11.3a tells the story better. The proceeds of the assets sold are in excess of N55b.

Mcy56:
Can someone pls check page 6 and interprete what this statement means under other income:
I mean un-biased person pls.

3 Other Income N'000 N'000
Provision no longer required is as at result of Access/Diamond Banks debt waiver together with Finance and Operating leases written off

http://www.nse.com.ng/Financial_NewsDocs/28794_JAPAUL_OIL_-_2019_Q4_FINANCIAL_STATEMENTS_FEBRUARY_2020.pdf

@Rebekah2011 can you pls help out here.

emmanuelewumi:



Ucap, APR, UPDC REIT, MTN at N110 and below, Lafarge at N12 and below, GSK @ N7 and below, Custodian and Allied, AIICO, Carverton at N2.00 and below, Guinness at N20 and below.

Mainly for cash flow, and can book profit when and if the need arises

Continue to monitor their quarterly performance

Well appreciated. Currently in the bolded. Will continue to observe and adjust portfolio.

emmanuelewumi:



There will be a right offer, this will prevent the funeral of the business

He should pay dividend first...

Better still go look for Milost to come invest...or get another major investor

I remember this your quote

emmanuelewumi:


Nothing stops the Virgin from riding the frail old man. The frail old man will be fine and okay las las

Now this

emmanuelewumi:



There will be a right offer, this will prevent the funeral of the business

Japaul will not die and might be on the NSE for the next 20 years, but still birth go plenty.

stcool:


He should pay dividend first...

Better still go look for Milost to come invest...or get another major investor

Insiders will take care of themselves before considering shareholders, especially now that there are doubts about the going concern ability of the business.

OBAGADAFFI:
I remember this your quote




Now this


Japaul will not die and might be on the NSE for the next 20 years, but still birth go plenty.

Check the Genesis of the problems of UPDC. A business will die when you are not generating enough revenue to run the business, when you start selling assets to run the business and pay debts

emmanuelewumi:



Check the Genesis of the problems of UPDC. A business will die when you are not generating enough revenue to run the business, when you start selling assets to run the business and pay debts

Well let's wait for Q1 and Q2 from Japaul...but I feel something in the works.

May be an announcement...rights issue or eqiuty investment

stcool:


Well let's wait for Q1 and Q2 from Japaul...but I feel something in the works.

May be an announcement

If you entered at a good price, watch and observe events as they unfold

emmanuelewumi:



Check the Genesis of the problems of UPDC. A business will die when you are not generating enough revenue to run the business, when you start selling assets to run the business and pay debts

Correct

emmanuelewumi:



I want to sleep well at night.


The keyword in what I wrote was INVEST

MY brother sleep well jor.
It took 19 of my 22 investing years to manage to accommodate that statement of mine.

OakPearl:



MY brother sleep well jor.
It took 19 of my 22 investing years to manage to accommodate that statement of mine.

How

Why invest before looking for information to back up your decision?
Anytime I start partnering with Google when I should be sleeping, I know my village people deflected the arrows that fly by day in my direction.
That's why Google is granting me free insomnia with the terror by night....

DeRuggedProf:
Why invest before looking for information to back up your decision?
Anytime I start partnering with Google when I should be sleeping, I know my village people deflected the arrows that fly by day in my direction.
That's why Google is granting me free insomnia with the terror by night....

See sharp pebble wey you throw on Mcy

RabbiDoracle:


See sharp pebble wey you throw on Mcy

Una dey look for trouble o.

Meanwhile i go register to learn literature from Deruggedprof

Stocks with new 52 week highs
Neimeth #1.94k
Consolidated hallmark #0.46k
Prestige assurance #0.64k

When you turn the STOCK MARKET into a STUCK MARKET, I believe without reservations that you are an adult...

emmanuelewumi:



If you entered at a good price, watch and observe events as they unfold

When a stock is expensive at 20K, then you must be aiming at taking over the business.

Access Bank Plc.
This note provides information about the contractual terms of the Group’s interest-bearing loans and borrowings,
which are measured at amortised cost. For more information about the Group's exposure to interest rate, foreign
currency and liquidity risks, see note 5.
Group Company
The facility of US$66,478,405.35 was further restructured with the accumulated unpaid interest of
US$11,244,554.98 and rolled over at a reviewed rate of 10% per annum. The balance has been collapsed to one
account as Access Bank Plc and has been fully liquidated during the year. See Note 26.1.2 for details.
During the year, the marine equipments pledged as collateral securities for various loans obtained by the company
from Access Bank have been Forcefully taken over to settled all obligations to the bank based on duly executed
terms of settlement before the Federal High Court directive on suit no: FHC/L/CS/1222/2018. However, parts of the
Company settlement of the total debts owed to the bank was to irrevocably and unconditionallly agreed to assign
all of the interest in the two(2) Dredgers (JDXII &JDXIII with registration no SR 2525 & SR 2526 respectively) to the
bank for the sum of N5 billion. To this end, the two Dredgers are to be released back to the Company for 6 years
with 1 year moratorium on rental payment on or before January 31, 2021 to January 30,2026 with equal annual
repayment of N1 billion each.

Uchetoba:
Access Bank Plc.
This note provides information about the contractual terms of the Group’s interest-bearing loans and borrowings,
which are measured at amortised cost. For more information about the Group's exposure to interest rate, foreign
currency and liquidity risks, see note 5.
Group Company
The facility of US$66,478,405.35 was further restructured with the accumulated unpaid interest of
US$11,244,554.98 and rolled over at a reviewed rate of 10% per annum. The balance has been collapsed to one
account as Access Bank Plc and has been fully liquidated during the year. See Note 26.1.2 for details.
During the year, the marine equipments pledged as collateral securities for various loans obtained by the company
from Access Bank have been Forcefully taken over to settled all obligations to the bank based on duly executed
terms of settlement before the Federal High Court directive on suit no: FHC/L/CS/1222/2018. However, parts of the
Company settlement of the total debts owed to the bank was to irrevocably and unconditionallly agreed to assign
all of the interest in the two(2) Dredgers (JDXII &JDXIII with registration no SR 2525 & SR 2526 respectively) to the
bank for the sum of N5 billion. To this end, the two Dredgers are to be released back to the Company for 6 years
with 1 year moratorium on rental payment on or before January 31, 2021 to January 30,2026 with equal annual
repayment of N1 billion each.

Oga don give house girl Belle...

Uchetoba:
Access Bank Plc.
This note provides information about the contractual terms of the Group’s interest-bearing loans and borrowings,
which are measured at amortised cost. For more information about the Group's exposure to interest rate, foreign
currency and liquidity risks, see note 5.
Group Company
The facility of US$66,478,405.35 was further restructured with the accumulated unpaid interest of
US$11,244,554.98 and rolled over at a reviewed rate of 10% per annum. The balance has been collapsed to one
account as Access Bank Plc and has been fully liquidated during the year. See Note 26.1.2 for details.
During the year, the marine equipments pledged as collateral securities for various loans obtained by the company
from Access Bank have been Forcefully taken over to settled all obligations to the bank based on duly executed
terms of settlement before the Federal High Court directive on suit no: FHC/L/CS/1222/2018. However, parts of the
Company settlement of the total debts owed to the bank was to irrevocably and unconditionallly agreed to assign
all of the interest in the two(2) Dredgers (JDXII &JDXIII with registration no SR 2525 & SR 2526 respectively) to the
bank for the sum of N5 billion. To this end, the two Dredgers are to be released back to the Company for 6 years
with 1 year moratorium on rental payment on or before January 31, 2021 to January 30,2026 with equal annual
repayment of N1 billion each.

This is a tall one, the dredgers will pay N1 billion every year. What will happen if the business did not generate enough revenue for the loan repayment, considering the fact that the business generated a total revenue of N800 million in 2019.


Na to takeover the carcass go remain, because Access won't accept default

DeRuggedProf:



Oga don give house girl Belle...

No clear financial analysis from NSEMPA as usual just meme and assumptions.

If Japaul goes to N1 we would have another meme as usual.

Na buy we buy we no kill person...UACN, JAPAUL I wont sell until I see the end

emmanuelewumi:



This is a tall one, the dredgers will pay N1 billion every year. What will happen if the business did not generate enough revenue for the loan repayment, considering the fact that the business generated a total revenue of N800 million in 2019.


Na to takeover the carcass go remain, because Access won't accept default

If they fail to repay...the bank go carry the two dredger dey go...since access bank wants to start dredging business.

You people forget that the way it stands now...Japual has nothing to loose.

stcool:


If they fail to repay...the bank go carry the two dredger dey go...since access bank wants to start dredging business.

You people forget that the way it stands now...Japual has nothing to loose.

The bank won't operate it, they may tell Japaul or any other person to run the business for them.

Can you now see why Japaul will need to raise funds in order to pay the remaining debt and stay in business. Another reason why you can't earn any dividend.

Japaul is just s step a way from being under receivership

emmanuelewumi:



The bank won't operate it, they may tell Japaul or any other person to running the business for them.

Can you now see why Japaul will need to raise funds into to pay the remaining debt and stay in business. Another reason why you can't earn any dividend

Clearly I see them raising funds and best bet is a fund like Milost taking a major stake. They should forget rights issue...Anyways I would wait it out.

emmanuelewumi:



The bank won't operate it, they may tell Japaul or any other person to run the business for them.

Can you now see why Japaul will need to raise funds in order to pay the remaining debt and stay in business. Another reason why you can't earn any dividend.

Japaul is just s step a way from being under receivership

...or liquidation.

emmanuelewumi:
Always read and digest the auditor's report. There is a red flag if there are doubts about the going concern ability of a business.

Avoid businesses that are not generating enough revenue that can take care of their running costs.


UPDC paid a dividend of N1.75k about 5 to 6 years ago, now the stock price is now less than the dividend declared in the past

Hope is a double edged emotion.

stcool:


Clearly I see them raising funds and best bet is a fund like Milost. They should forget rights issue Anyways I would wait it out.

You now agree on the suggestion that it is a paper profit.


Thank you @ Wanajo on your seminar concerning Creative Accounting