megawealth01:
https://www.economypost.ng/featured/tinubu-led-oando-in-survival-battle-as-oil-firm-goes-technically-bankrupt/2024/04/27/

Same Oando few months ago

Na link I share I no talk anything oooo

megawealth01:


Na link I share I no talk anything oooo

. 😁😁😁😁😁😆

I await the remaining results to decide if I will start gambling with Oando but na my other account I go use dey do the IN and OUT things...

I never milk Oando finish

mails4funshi:
Clearly, the stone that the FBN Securities and the likes rejected have become the "cornerstone" elsewhere.

Lol. Nice wordplay.
"Cornerstone" aka "Cardinalstone"

OANDO is awey CRUISE if you like take my posts on Oando seriously... Oando don become correct food for SHARP GUYS as them paying dividends na only baba loke knows

megawealth01:


E shock you ba?

Him na strong man

SonofElElyonRet:


Him na strong man

Na true sha... I still dey wait Aradel at my bargain entry... I fit reason Oando join later sha but na the other results go decide that sha

The left over Oando units still doing wonders in my portfolio. It can't get back to my one digit entry even if Wale mess things up

Agbalowomeri:


5million of 2008 is equivalent of 58/60mil in 2024

really ?

Oga @MegaWealth, any word on UNITY BANK yet?

megawealth01:
OANDO is awey CRUISE if you like take my posts on Oando seriously... Oando don become correct food for SHARP GUYS as them paying dividends na only baba loke knows

Truth should be told, Oando is in a bad state.

We have less than 10 weeks for the year to end, how will get the necessary funding

As I have always said the company needs to be recapitalized and the current holders who want to make it a long term investment will be wiped out or their percentage holdings will be seriously reduced to about 10%

emmanuelewumi:
As I have always said the company needs to be recapitalized and the current holders who want to make it a long term investment will be wiped out or their percentage holdings will be seriously reduced to about 10%

Which company pls?

I am of the opinion that the previous auditor would have written a more damaging report.

To the newbies don't be cajoled by any Q2 or Q3 report that will be presented by management.


The current audit report was signed on Wednesday 30th October 2024

I believe so.
E&Y resigned in July 2022 (around the time of the SoA and delisting issues).
BDO were appointed shortly after...

With OandO, the more you stare the less you see

emmanuelewumi:
I am of the opinion that the previous auditor would have written a more damaging report.

Nice one.
Indeed, only the discerning ones will key into the huge opportunities revealed in the Oando result, especially in the midst of reactionary, bad belle MH analysis by some angry folks!

Harvestock01:
This Oando 2023 financial results will either stem the tide for Aradel SP or accelerate the bleeding. There's a massive opportunity for bagging big profits in between the two, only for the discerning.

There's also a big opportunity for unending analyses and bickering 😉

KarlTom:
I believe so.
E&Y resigned in July 2022 (around the time of the SoA and delisting issues).
BDO were appointed shortly after...

With OandO, the more you stare the less you see

E&Y? Is it not the same Ernest &Young that resigned as auditors of Super Micro that sent their stock crashing?? Interesting stuff!

OANDO'S 2023 result is truly "RENEWED HOPE RELOADED" I dey kampe!

KarlTom:
I believe so.
E&Y resigned in July 2022 (around the time of the SoA and delisting issues).
BDO were appointed shortly after...

With OandO, the more you stare the less you see

I don't blame them they have their reputation to protect.

Even after E & Y, Oando could not get another big 5 to audit their account and had to appoint BDO

Another question why was the comprehensive loss of over N200 billion hidden and was in a very small print, compared to the purported profit after tax of about N60 billion

I hope this is not another Enron that is loading

ELLAHLAKES RUNNING INTO DEMAND ZONE AFTER IMPRESSIVE RALLY
ELLAHLAKES changed its outlook to bullish following the September impressive upside rally thereby creating a new 52-week higher-high on high volume. Now that the stock is declining, it's creating a great buying opportunities across demand levels.

PLAN YOUR TRADES AND TRADE YOUR PLANS

Who would have been patient to read the Koko of the matter on page 92, if not from the auditors report that mentioned note 49 which can be found on page 92.

Rather it was the profit after tax of N60 billion that was highlighted

A major information of this nature ought to be in the first 5 pages of the report

By Divine Order I know that The Young shall grow...

emmanuelewumi:


I don't blame them they have their reputation to protect.

Even after E & Y, Oando could not get another big 5 to audit their account and had to appoint BDO

The elders say "put your best foot forward"...

emmanuelewumi:
Another question why was the comprehensive loss of over N200 billion hidden and was in a very small print, compared to the purported profit after tax of about N60 billion

Oando to the moon.

megawealth01:
I await the remaining results to decide if I will start gambling with Oando but na my other account I go use dey do the IN and OUT things...

I never milk Oando finish

When should we be expecting other remaining result.just too busy.

I want to load prestige assurance big time, I am even concerning selling my aiico to load it.
I bought aiico at slighiyt above ₦1 n has been dragging
I need advise on the decision

emmanuelewumi:
Another question why was the comprehensive loss of over N200 billion hidden and was in a very small print, compared to the purported profit after tax of about N60 billion

I understand your point about the way they split the annual statement of comprehensive income across two pages—showing a profit of 60 billion on the first page, then a 69 billion loss on the following page. This layout could indeed confuse some readers, like Mcy56. It also emphasizes a significant improvement from the previous year. If not for the exchange losses that affected many companies in 2023, the results would have been much stronger.

Below are the key highlights presented objectively, as your analysis comes across as emotionally charged, almost as if you have a personal vendetta against Oando.



Reported profit after tax: N60.28 billion

Total comprehensive loss: -N69.97 billion

The difference is primarily due to "Other comprehensive loss" of -N130.25 billion

Opening equity: -N197,205,768,000

FX translation loss: -N132,694,274,000

Closing equity: -N267,178,721,000

Payunsin:
I want to load prestige assurance big time, I am even concerning selling my aiico to load it.
I bought aiico at slighiyt above ₦1 n has been dragging
I need advise on the decision

Selling Aiico to load prestige?
Mbanu.
You have to consider Aiico is a big company and better than prestige and liquid enough.If they can address the issue of over 30B outstanding shares,they are good to go.

Think of selling Aiico to buy Mansard which has become the hottest insurance stock.You will see demand for Mansard from next week.A #12 -15 stock mainly for big players in the market

If you have stocks like universal ins,sovereign ins,regency,consider selling them for prestige.No regret on this decision.

Lastly,if you have cash,load prestige as much as you can.It is another veritas at the current price.Just fund your account and get at least 5m units of it.I have loaded prestige Assurance without selling anything for it.

My picks for insurance for now

Mansard top pick
Prestige top pick
Aiico
Cornerstone
Sunu
Wapic
Guinea ins another wizard building up.

Already in my portfolio are
Mansard
Prestige
Aiico
Guinea.

Keep eyes on insurance stocks.Almost all are good at the moment

I saw something in this result.

ositadima1:


I understand your point about the way they split the annual statement of comprehensive income across two pages—showing a profit of 60 billion on the first page, then a 69 billion loss on the following page. This layout could indeed confuse some readers, like Mcy56. It also emphasizes a significant improvement from the previous year. If not for the exchange losses that affected many companies in 2023, the results would have been much stronger.

Below are the key highlights presented objectively, as your analysis comes across as emotionally charged, almost as if you have a personal vendetta against Oando.



Reported profit after tax: N60.28 billion

Total comprehensive loss: -N69.97 billion

The difference is primarily due to "Other comprehensive loss" of -N130.25 billion

Opening equity: -N197,205,768,000

FX translation loss: -N132,694,274,000

Closing equity: -N267,178,721,000

It is a wonderful performance, the return on equity also experienced great improvement.


I have a fair value of N150 for the stock