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.

emmanuelewumi:



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


Thank you @ Wanajo on your seminar concerning Creative Accountiu

stcool:

Paper profit?
Yet Access bank was paid in full
Its clear people here don't know what happening inside Japual.

stcool:


I won't totally agree with paper profit...the case of FO come to play. While they had huge debt and market price it as low as N9.00 same company did their thing and debt disappeared from the books and paid a dividend of N7.00 with stock price rising to over N300

This is NSE...

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....

klas:


Nsempas are correct.

Note 11.3 of the financial statuements gives enough information for analysis.

1.JP owed Access and Standard Chartered banks

2. The 2 banks took over some of its assets (dredgers, barges and building) at a value of N55.712b to cover the amount owed.

3. The carrying value of those assets in the books of JP before the banks took them over was N12.69b.

4. The difference between the gross value of the loans at which value the banks took over the assets less the carrying amount is N43b which JP recognised as other income.

You can see that JP lost some of its assets while the banks lost the difference between the loan amount and the assets value.

N43b other income is a paper profit as it just involved writing back the accrual for interest (now waived) which JP had been doing over the years, it is not cash backed.

JP may not even be in a position to pay 1kobo dividend unless it borrows because it has negative cash flow without receivables.

The receivable of N10.4b it reflected in the account is largely audio because subsidiary and associate members of the group owe N8.5b out of it (essentially JP owes itself). Only 686m is trade receivable.

Disclosure: I joined JP bus in 2008 (no disembarking) and without doing due diligence bought additional 1m @ 0.24k. JP should let me know its juju man. I need him

aremso:


And what are they going to sell in q1 and q2 to get that kind of money again？

stcool:


I won't totally agree with paper profit...the case of FO come to play. While they had huge debt and market priced it as low as N9.00 same company did their thing and debt disappeared from the books and paid a dividend of N7.00 with stock price rising to over N300

FO accounting is still a mystery till date, how they paid that N7.00 and got to N300 per share

This is NSE...

emmanuelewumi:



They should have liquidated the remaining N5 billion debt. And then use the dredgers to generate income for the business instead of working to pay the bank for the next 5 to 6 years

stcool:


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

klas:


Please, was this recent or before 2010 when it was AP?

stcool:


Jegede has survived where most CEOs failed...if he held in this far then sth is coming.

Him deciding to hold in to those dredgers is for a reason. I keep having a feeling that money is entering Japaul

emmanuelewumi:



Jegede lost rights and interests to those dredgers for the next 6 years, money generated from the rental of those dredgers will go to an account for the servicing of the loans, Jegede does not have powers over the account.

They were initially seized, check the terms and conditions of the release of the dredgers. The dredgers will be working for the bank

DeRuggedProf:


Common sense analysis sure pass...

You want me to become an ophthalmologist before I can identify a blind man?

Ok oo...

I never finish buying UBA, na person wey dey stuck inside mud I go help Wigwe pull out?

Even Wigwe can't pull them out without his position transmogrifying into a sink hole..

Where A TYPICAL BLOOD SUCKING NIGERIAN BANK pick race, who I be?

Can't allow myself to be caught in financial dredging....

I only analyse my level of greed now oo..

stcool:


Jegede has survived where most CEOs failed...if he held in this far then sth is coming.

Him deciding to hold in to those dredgers is for a reason. I keep having a feeling that money is entering Japaul

TLAX:


To hope is good....sometimes.

stcool:


I won't totally agree with paper profit...the case of FO come to play. While they had huge debt and market priced it as low as N9.00 same company did their thing and debt disappeared from the books and paid a dividend of N7.00 with stock price rising to over N300

FO accounting is still a mystery till date, how they paid that N7.00 and got to N300 per share

This is NSE...

stcool:


My entry into Japaul is purely speculation...and I intend to hold.

Its just 1M units at today's price 0.27 worst case it goes back to 0.20

I would rather wait and see how events unfold..but wont sell!

emmanuelewumi:


Any capital appreciation that is not supported by figures can't stand the test of time.

Capital appreciation caused by market manipulation or market euphoria, will evaporate when normalcy and rationality returns to the market

klas:
Nsempas are correct.

Note 11.3 of the financial statements gives enough information for analysis./i]

stcool:


When Ote$ took over...people made so much killing from FO in millions

From N9 to Over N300...and all the debts disappeared. How they rewrote FO accounting I can't tell

emmanuelewumi:


Any capital appreciation that is not supported by figures can't stand the test of time.

Capital appreciation caused by market manipulation or market euphoria, will evaporate when normalcy and rationality returns to the market

Mcy56:
Una ..but never worry yourself, worst scenario, JP will go back to 20kobo.....at least that's what you all wanted. Since those that bought at N14 didn't die, those who bought at 30kobo will surely be alive too if it goes back to 20kobo.

emmanuelewumi:




Abi oo, you don't invest based on hope if the figures are going south and the auditors expressed their doubts about the continuity and sustainability of the business

nna777:
This is the time where the FUGAZ will be using style to gain 20k, 50k 65k until they find a strong higher support/resistance but the devil will be telling you that second wave is coming, just be patient (ask those who where waiting for zenith @#5).

Banks are forming a higher strong resistance. This might likely be the last week we will see prices at this level.

meine:
Weldone Mcy, dont mind them bad belle people......They dont know that What is Dead Can never be dead again.

klas:


Nsempas are correct.

Note 11.3 of the financial statements gives enough information for analysis.

1.JP owed Access and Standard Chartered banks

2. The 2 banks took over some of its assets (dredgers, barges and building) at a value of N55.712b to cover the amount owed.

3. The carrying value of those assets in the books of JP before the banks took them over was N12.69b.

4. The difference between the gross value of the loans at which value the banks took over the assets less the carrying amount is N43b which JP recognised as other income.

You can see that JP lost some of its assets while the banks lost the difference between the loan amount and the assets value.

N43b other income is a paper profit as it just involved writing back the accrual for interest (now waived) which JP had been doing over the years, it is not cash backed.

JP may not even be in a position to pay 1kobo dividend unless it borrows because it has negative cash flow without receivables.

The receivable of N10.4b it reflected in the account is largely audio because subsidiary and associate members of the group owe N8.5b out of it (essentially JP owes itself). Only 686m is trade receivable.

Disclosure: I joined JP bus in 2008 (no disembarking) and without doing due diligence bought additional 1m @ 0.24k. JP should let me know its juju man. I need him

klas:


Nsempas are correct.

Note 11.3 of the financial statements gives enough information for analysis.

1.JP owed Access and Standard Chartered banks

2. The 2 banks took over some of its assets (dredgers, barges and building) at a value of N55.712b to cover the amount owed.

3. The carrying value of those assets in the books of JP before the banks took them over was N12.69b.

4. The difference between the gross value of the loans at which value the banks took over the assets less the carrying amount is N43b which JP recognised as other income.

You can see that JP lost some of its assets while the banks lost the difference between the loan amount and the assets value.

N43b other income is a paper profit as it just involved writing back the accrual for interest (now waived) which JP had been doing over the years, it is not cash backed.

JP may not even be in a position to pay 1kobo dividend unless it borrows because it has negative cash flow without receivables.

The receivable of N10.4b it reflected in the account is largely audio because subsidiary and associate members of the group owe N8.5b out of it (essentially JP owes itself). Only 686m is trade receivable.

Disclosure: I joined JP bus in 2008 (no disembarking) and without doing due diligence bought additional 1m @ 0.24k. JP should let me know its juju man. I need him