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victortan Elite	25-Feb-2015 19:44        victortan About Contact  Quote this Post!
x 0   x 0  Alert Admin	Trade receivable so high??? show customer facing hard time liaos. WanSiTong      ( Date: 25-Feb-2015 19:32) Posted: Notes to Balance Sheet as at  31 December 2014 : Trade and other receivables Trade and other receivables increased from US$11.00 million as at 31 December 2013 to US$155.20 million as at 31 December 2014, in tandem with the higher level of business activities. Property, plant and equipment Property, plant and equipment increased from US$25.17 million as at 31 December 2013 to US$661.36 million as at 31 December 2014. This is due to the consolidation of vessel fleet owned by RSOS and plant and equipment of the Jetlee Group and the Newcruz Group. Consequently, depreciation for FY2014 increased by US$16.06 million to US$17.61 million, from US$1.55 million for FY2013. Total assets as at 31 December 2014 was US$ 971.714 million Total current and non-current term borrowings increased from US$69.10 million as at 31 December 2013 to US$544.10 million as at 31 December 2014 which comprises largely of bank borrowings for vessels owned by RSOS, and notes payable. The average repayment period for the Group' s vessel borrowings is approximately six (6) years, which is significantly shorter than the useful lives of the vessels which are typically between 18 to 25 years. Total liabilities as at 31 December 2014 was US$ 730.966 million. Net assets as at 31 December 2014 was US$ 240.748 million   WanSiTong      ( Date: 25-Feb-2015 16:37) Posted: Below figures are in US $ 1 US$ = 1.36 S$ Net asset value per share also improved to $0.0668 (S$ 0.0908 ) as at Dec. 31, 2014 compared to $0.0359 ( S$ 0.0488 ) in the previous year.
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WanSiTong Supreme	25-Feb-2015 19:32        WanSiTong About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	Notes to Balance Sheet as at  31 December 2014 : Trade and other receivables Trade and other receivables increased from US$11.00 million as at 31 December 2013 to US$155.20 million as at 31 December 2014, in tandem with the higher level of business activities. Property, plant and equipment Property, plant and equipment increased from US$25.17 million as at 31 December 2013 to US$661.36 million as at 31 December 2014. This is due to the consolidation of vessel fleet owned by RSOS and plant and equipment of the Jetlee Group and the Newcruz Group. Consequently, depreciation for FY2014 increased by US$16.06 million to US$17.61 million, from US$1.55 million for FY2013. Total assets as at 31 December 2014 was US$ 971.714 million Total current and non-current term borrowings increased from US$69.10 million as at 31 December 2013 to US$544.10 million as at 31 December 2014 which comprises largely of bank borrowings for vessels owned by RSOS, and notes payable. The average repayment period for the Group' s vessel borrowings is approximately six (6) years, which is significantly shorter than the useful lives of the vessels which are typically between 18 to 25 years. Total liabilities as at 31 December 2014 was US$ 730.966 million. Net assets as at 31 December 2014 was US$ 240.748 million   WanSiTong      ( Date: 25-Feb-2015 16:37) Posted: Below figures are in US $ 1 US$ = 1.36 S$ Net asset value per share also improved to $0.0668 (S$ 0.0908 ) as at Dec. 31, 2014 compared to $0.0359 ( S$ 0.0488 ) in the previous year.   WanSiTong      ( Date: 25-Feb-2015 16:08) Posted: For the financial year ended Dec. 31, 2014 (FY2014)  net profit has doubled to $20.4 million from $10.3 million a year ago. Based on its weighted average number of shares, the Group recorded earnings per share of $0.0079 for FY2014, up from $0.0063 in FY2013. Net asset value per share also improved to $0.0668 as at Dec. 31, 2014 compared to $0.0359 in the previous year. As at Dec. 31, 2014, the Group had a robust order book of $540.0 million. In the current financial year, the Group expects to reap maiden contributions from its Indonesian associated company which it acquired at the end of 2014. New charter contracts secured in 2014 are also expected to start contributing to its revenue in 2015. At present,  vessel chartering bid book stands at $1.2 billion. Last done : $ 0.063 Read more ......
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darocupcake Master	25-Feb-2015 18:26        darocupcake About Contact  Quote this Post!
x 0   x 0  Alert Admin	I think he meant get out n nt the stock run pnuklis      ( Date: 25-Feb-2015 18:19) Posted: They have borrowed more than 2 times their equity, Trade receivables are whopping 155 million as per the results announced today (with 240 million equity). Looks like this company is going in the same direction as Swiber which is poorly managed as per its books with high trade receivables (people running this were involved in Swiber before any way). How will this stock RUN as expected by some punters who blindly say things. Please do your home work properly. I saw what sheerluck saw with out looking at his note below.
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pnuklis Master	25-Feb-2015 18:19        pnuklis About Contact  Quote this Post!
x 0   x 0  Alert Admin	They have borrowed more than 2 times their equity, Trade receivables are whopping 155 million as per the results announced today (with 240 million equity). Looks like this company is going in the same direction as Swiber which is poorly managed as per its books with high trade receivables (people running this were involved in Swiber before any way). How will this stock RUN as expected by some punters who blindly say things. Please do your home work properly. I saw what sheerluck saw with out looking at his note below.
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earlybird14 Supreme	25-Feb-2015 16:45        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	RUN!!!
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WanSiTong Supreme	25-Feb-2015 16:37        WanSiTong About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	Below figures are in US $ 1 US$ = 1.36 S$ Net asset value per share also improved to $0.0668 (S$ 0.0908 ) as at Dec. 31, 2014 compared to $0.0359 ( S$ 0.0488 ) in the previous year.   WanSiTong      ( Date: 25-Feb-2015 16:08) Posted: For the financial year ended Dec. 31, 2014 (FY2014)  net profit has doubled to $20.4 million from $10.3 million a year ago. Based on its weighted average number of shares, the Group recorded earnings per share of $0.0079 for FY2014, up from $0.0063 in FY2013. Net asset value per share also improved to $0.0668 as at Dec. 31, 2014 compared to $0.0359 in the previous year. As at Dec. 31, 2014, the Group had a robust order book of $540.0 million. In the current financial year, the Group expects to reap maiden contributions from its Indonesian associated company which it acquired at the end of 2014. New charter contracts secured in 2014 are also expected to start contributing to its revenue in 2015. At present,  vessel chartering bid book stands at $1.2 billion. Last done : $ 0.063 Read more ......
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WanSiTong Supreme	25-Feb-2015 16:08        WanSiTong About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	For the financial year ended Dec. 31, 2014 (FY2014)  net profit has doubled to $20.4 million from $10.3 million a year ago. Based on its weighted average number of shares, the Group recorded earnings per share of $0.0079 for FY2014, up from $0.0063 in FY2013. Net asset value per share also improved to $0.0668 as at Dec. 31, 2014 compared to $0.0359 in the previous year. As at Dec. 31, 2014, the Group had a robust order book of $540.0 million. In the current financial year, the Group expects to reap maiden contributions from its Indonesian associated company which it acquired at the end of 2014. New charter contracts secured in 2014 are also expected to start contributing to its revenue in 2015. At present,  vessel chartering bid book stands at $1.2 billion. Last done : $ 0.063 Read more ......
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sheerluck Supreme	25-Feb-2015 14:54        sheerluck About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Work for your money first then let your money work for you"
x 0   x 0  Alert Admin	Another area to look out for is its receivables .   It is starting to balloon up.   Better not turn out like Swiber' s pattern.   They also took an impariment of US1.6mil to their receivables this quarter.   Hope the low oil price will mot results in more impairment. It is also in net liabilities position so maybe more loan taking coming for WC. OTOH, its revenue is likely to peak in 2015 at ard US200mil until more contract wins.   Assuming their acquisition is only half as good as before, I estimated their FY NP to be ard US36mil barring any once-offs.   But sian when looking at the huge debt of US530mil.   RedEye1811      ( Date: 25-Feb-2015 13:45) Posted: Yes that bargain purchase gain a once-off most likely so need to consider that...need to look at full statement completely to get better idea all the issues...but it a mixed bag with some good points but some negative....Vallianz expanded so much 2014 it makes it hard to compare relative to 2013 so projecting where 2015 headed a little up in air...long term it may have grounds to be good but depends if wish to hold that long (more 12 months) and take risk oil does not bounce back and interest rates stay subdued... sheerluck      ( Date: 25-Feb-2015 13:11) Posted: Thanks. you calc is more precise. Indeed, they need to work on their admin and interest cost.   The interest for their note is 7.25%-7.5%.   Really high and both notes due in 2016. I also just noted that the US7mil other income from gain on bargain purchase as a result of acquisition of subsidiaries may also be a once-off thing.
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RedEye1811 Master	25-Feb-2015 13:45        RedEye1811 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Yes that bargain purchase gain a once-off most likely so need to consider that...need to look at full statement completely to get better idea all the issues...but it a mixed bag with some good points but some negative....Vallianz expanded so much 2014 it makes it hard to compare relative to 2013 so projecting where 2015 headed a little up in air...long term it may have grounds to be good but depends if wish to hold that long (more 12 months) and take risk oil does not bounce back and interest rates stay subdued... sheerluck      ( Date: 25-Feb-2015 13:11) Posted: Thanks. you calc is more precise. Indeed, they need to work on their admin and interest cost.   The interest for their note is 7.25%-7.5%.   Really high and both notes due in 2016. I also just noted that the US7mil other income from gain on bargain purchase as a result of acquisition of subsidiaries may also be a once-off thing.   RedEye1811      ( Date: 25-Feb-2015 12:34) Posted: Average NP over Q1 - Q3 is USD$5.479 mill. Assuming NP of Jetlee and OER consistent 2013 to 2014 and NP spread equally over 12 months. Vallianz had Jetlee from end Sept 2014 to Dec 2014 so 3 months. If NP same as 2013 then NP = 280,000 as per yr numbers. So (280,000/12)*3 = 70k. Now for OER it owned end Oct - end Dec 2014 so 2 months. Assuming 2014 NP = 2013 NP then (4,700,000/12)*2 = 783k. So Jetlee and OER only contribute 853k. Assuming Q4 follow average Q1-Q3 then USD$5.479 mill + USD$853k = USD$6.332 mill. The actual NP was USD$3.99. So diff USD$2.342 between what may expect (assuming consistent profit flows and 2013 = 2014 for aquired) and actual. So it not as bad as the USD$5.96 mill u first argue. With reduced oil price in last part of 2014 with charter rates down and so forth, it not unreasonable to assume Q4 would be as stong as Q1-Q3. So it not as bad as think. Yep, can be improvements such as a need to control admin expenses as they increase hugely, and could get reduction finance costs. But it not a figure to think is not unrealistic and one to walk off plank about.
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sheerluck Supreme	25-Feb-2015 13:11        sheerluck About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Work for your money first then let your money work for you"
x 0   x 0  Alert Admin	Thanks. you calc is more precise. Indeed, they need to work on their admin and interest cost.   The interest for their note is 7.25%-7.5%.   Really high and both notes due in 2016. I also just noted that the US7mil other income from gain on bargain purchase as a result of acquisition of subsidiaries may also be a once-off thing.   RedEye1811      ( Date: 25-Feb-2015 12:34) Posted: Average NP over Q1 - Q3 is USD$5.479 mill. Assuming NP of Jetlee and OER consistent 2013 to 2014 and NP spread equally over 12 months. Vallianz had Jetlee from end Sept 2014 to Dec 2014 so 3 months. If NP same as 2013 then NP = 280,000 as per yr numbers. So (280,000/12)*3 = 70k. Now for OER it owned end Oct - end Dec 2014 so 2 months. Assuming 2014 NP = 2013 NP then (4,700,000/12)*2 = 783k. So Jetlee and OER only contribute 853k. Assuming Q4 follow average Q1-Q3 then USD$5.479 mill + USD$853k = USD$6.332 mill. The actual NP was USD$3.99. So diff USD$2.342 between what may expect (assuming consistent profit flows and 2013 = 2014 for aquired) and actual. So it not as bad as the USD$5.96 mill u first argue. With reduced oil price in last part of 2014 with charter rates down and so forth, it not unreasonable to assume Q4 would be as stong as Q1-Q3. So it not as bad as think. Yep, can be improvements such as a need to control admin expenses as they increase hugely, and could get reduction finance costs. But it not a figure to think is not unrealistic and one to walk off plank about. sheerluck      ( Date: 25-Feb-2015 12:01) Posted: Ok.   But even excluding NewCruz and PTSB, the NP of US3.64mil is still very low considering its previous three quarter average is about US6mil + expected US1.3mil from JetLee and OER.
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sheerluck Supreme	25-Feb-2015 13:05        sheerluck About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Work for your money first then let your money work for you"
x 0   x 0  Alert Admin	So that US3mil is key to the question then.   Assuming it is once-off, then Vallianz results is pretty consistent comparing this quarter to previous quarter.   This will make more sense since Vallianz main bulk is chartering which I am not expecting it to be lumpy between quarters. At 6.3cts, it is trading at 8 PE and 0.72 to BV. Its huge debt and financing cost is going to be a drag.... Also will the impact of low oil price start deteriorting its performance in 2015?     nqing87      ( Date: 25-Feb-2015 12:31) Posted: that' s why i was saying results not that fantastic lol.. bro redeye pointed out that there' s 3mil+ increase in admin cost when compare to previous quarter (due to the acquisitions), for the below par results sheerluck      ( Date: 25-Feb-2015 12:01) Posted: Ok.   But even excluding NewCruz and PTSB, the NP of US3.64mil is still very low considering its previous three quarter average is about US6mil + expected US1.3mil from JetLee and OER.
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RedEye1811 Master	25-Feb-2015 12:34        RedEye1811 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Average NP over Q1 - Q3 is USD$5.479 mill. Assuming NP of Jetlee and OER consistent 2013 to 2014 and NP spread equally over 12 months. Vallianz had Jetlee from end Sept 2014 to Dec 2014 so 3 months. If NP same as 2013 then NP = 280,000 as per yr numbers. So (280,000/12)*3 = 70k. Now for OER it owned end Oct - end Dec 2014 so 2 months. Assuming 2014 NP = 2013 NP then (4,700,000/12)*2 = 783k. So Jetlee and OER only contribute 853k. Assuming Q4 follow average Q1-Q3 then USD$5.479 mill + USD$853k = USD$6.332 mill. The actual NP was USD$3.99. So diff USD$2.342 between what may expect (assuming consistent profit flows and 2013 = 2014 for aquired) and actual. So it not as bad as the USD$5.96 mill u first argue. With reduced oil price in last part of 2014 with charter rates down and so forth, it not unreasonable to assume Q4 would be as stong as Q1-Q3. So it not as bad as think. Yep, can be improvements such as a need to control admin expenses as they increase hugely, and could get reduction finance costs. But it not a figure to think is not unrealistic and one to walk off plank about. sheerluck      ( Date: 25-Feb-2015 12:01) Posted: Ok.   But even excluding NewCruz and PTSB, the NP of US3.64mil is still very low considering its previous three quarter average is about US6mil + expected US1.3mil from JetLee and OER.   nqing87      ( Date: 25-Feb-2015 11:48) Posted: bro, they havent consolidate newcruz & PTSB results yet.. but OER & jetlee think start le.. " In the current financial year, the Group expects to reap maiden contributions from its Indonesian associated company which it acquired at the end of 2014." " The Group started consolidating the financial results of OER Group since 31 October 2014. " " The Group started consolidating the financial results of Newcruz Group and PTSB Group on 31 December 2014. " " The Group started consolidating the financial results of Jetlee Group since 30 September 2014. "
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nqing87 Supreme	25-Feb-2015 12:31        nqing87 About Contact  Quote this Post!
x 0   x 0  Alert Admin	that' s why i was saying results not that fantastic lol.. bro redeye pointed out that there' s 3mil+ increase in admin cost when compare to previous quarter (due to the acquisitions), for the below par results sheerluck      ( Date: 25-Feb-2015 12:01) Posted: Ok.   But even excluding NewCruz and PTSB, the NP of US3.64mil is still very low considering its previous three quarter average is about US6mil + expected US1.3mil from JetLee and OER.   nqing87      ( Date: 25-Feb-2015 11:48) Posted: bro, they havent consolidate newcruz & PTSB results yet.. but OER & jetlee think start le.. " In the current financial year, the Group expects to reap maiden contributions from its Indonesian associated company which it acquired at the end of 2014." " The Group started consolidating the financial results of OER Group since 31 October 2014. " " The Group started consolidating the financial results of Newcruz Group and PTSB Group on 31 December 2014. " " The Group started consolidating the financial results of Jetlee Group since 30 September 2014. "
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sheerluck Supreme	25-Feb-2015 12:01        sheerluck About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Work for your money first then let your money work for you"
x 0   x 0  Alert Admin	Ok.   But even excluding NewCruz and PTSB, the NP of US3.64mil is still very low considering its previous three quarter average is about US6mil + expected US1.3mil from JetLee and OER.   nqing87      ( Date: 25-Feb-2015 11:48) Posted: bro, they havent consolidate newcruz & PTSB results yet.. but OER & jetlee think start le.. " In the current financial year, the Group expects to reap maiden contributions from its Indonesian associated company which it acquired at the end of 2014." " The Group started consolidating the financial results of OER Group since 31 October 2014. " " The Group started consolidating the financial results of Newcruz Group and PTSB Group on 31 December 2014. " " The Group started consolidating the financial results of Jetlee Group since 30 September 2014. " sheerluck      ( Date: 25-Feb-2015 11:43) Posted: Wah, the Q4 results is hopeless if they really consolidated JetLee' s, OER, NewCruz and PTSB into FY14. JetLee' s six months 2014 NP is US280k.   OER 2013 NP is US4.7mil.   NewCruz and PTSB  2013 NP is US9.06mil.   So if I assume all performed as before, Vallianz' s Q4 NP should be it' s existing business before any of these acquisition + (280k/2 + 4700/4 + 9060/4).   The four acquisition should contribute about US3.6mil already.   If Vallianz maintained its quarterly NP of about US6mil, then Q4 NP should be about US9.6mil.   Actual Q4 NP only US3.64mil????   That' s only 1/3 what is shuld be. What is going on in Vallianz and with all these acquisitions?
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nqing87 Supreme	25-Feb-2015 11:48        nqing87 About Contact  Quote this Post!
x 0   x 0  Alert Admin	bro, they havent consolidate newcruz & PTSB results yet.. but OER & jetlee think start le.. " In the current financial year, the Group expects to reap maiden contributions from its Indonesian associated company which it acquired at the end of 2014." " The Group started consolidating the financial results of OER Group since 31 October 2014. " " The Group started consolidating the financial results of Newcruz Group and PTSB Group on 31 December 2014. " " The Group started consolidating the financial results of Jetlee Group since 30 September 2014. " sheerluck      ( Date: 25-Feb-2015 11:43) Posted: Wah, the Q4 results is hopeless if they really consolidated JetLee' s, OER, NewCruz and PTSB into FY14. JetLee' s six months 2014 NP is US280k.   OER 2013 NP is US4.7mil.   NewCruz and PTSB  2013 NP is US9.06mil.   So if I assume all performed as before, Vallianz' s Q4 NP should be it' s existing business before any of these acquisition + (280k/2 + 4700/4 + 9060/4).   The four acquisition should contribute about US3.6mil already.   If Vallianz maintained its quarterly NP of about US6mil, then Q4 NP should be about US9.6mil.   Actual Q4 NP only US3.64mil????   That' s only 1/3 what is shuld be. What is going on in Vallianz and with all these acquisitions?
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sheerluck Supreme	25-Feb-2015 11:43        sheerluck About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Work for your money first then let your money work for you"
x 0   x 0  Alert Admin	Wah, the Q4 results is hopeless if they really consolidated JetLee' s, OER, NewCruz and PTSB into FY14. JetLee' s six months 2014 NP is US280k.   OER 2013 NP is US4.7mil.   NewCruz and PTSB  2013 NP is US9.06mil.   So if I assume all performed as before, Vallianz' s Q4 NP should be it' s existing business before any of these acquisition + (280k/2 + 4700/4 + 9060/4).   The four acquisition should contribute about US3.6mil already.   If Vallianz maintained its quarterly NP of about US6mil, then Q4 NP should be about US9.6mil.   Actual Q4 NP only US3.64mil????   That' s only 1/3 what is shuld be. What is going on in Vallianz and with all these acquisitions?
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nqing87 Supreme	25-Feb-2015 10:42        nqing87 About Contact  Quote this Post!
x 0   x 0  Alert Admin	i dont like the way management just say bidded 1.2bil.. dunno the status of them at all, whether it' s didnt get or still under bidding.. but anyway, first they have to overcome the 100mil debt payment under the current liabilities this year.. their current cash 25mil not enough lol.. should be no problem to overcome  i think.. given their  orderbook,  if i were the bank, i wouldnt chase after them to make them liquidate their assets.. let vallianz continue to own money to earn more interest.. darocupcake      ( Date: 25-Feb-2015 10:35) Posted: who knows they might go into aerospace business lolx anything is possible. see how the new ceo fares for this yr on any new contract award. sad that the 1.2bil they only got a small sum of it nqing87      ( Date: 25-Feb-2015 10:27) Posted: bro, the travel part is it sacarsm lol.. i dont see vallianz going travelling leh.. that acquisition is so minor,  just probably ways to reduce their travelling expenses.. chartering will still be the main business, and i think it' s the most profitable in terms of margin.. never go shipbuilding.. china can build tonnes of them.. see otto, their shipbuilding segment so weak.. do high spec vessel like vard also cannot given the current market condition.. do simple ones will also get outcompete by tonnes of china shipyard..
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darocupcake Master	25-Feb-2015 10:35        darocupcake About Contact  Quote this Post!
x 0   x 0  Alert Admin	who knows they might go into aerospace business lolx anything is possible. see how the new ceo fares for this yr on any new contract award. sad that the 1.2bil they only got a small sum of it nqing87      ( Date: 25-Feb-2015 10:27) Posted: bro, the travel part is it sacarsm lol.. i dont see vallianz going travelling leh.. that acquisition is so minor,  just probably ways to reduce their travelling expenses.. chartering will still be the main business, and i think it' s the most profitable in terms of margin.. never go shipbuilding.. china can build tonnes of them.. see otto, their shipbuilding segment so weak.. do high spec vessel like vard also cannot given the current market condition.. do simple ones will also get outcompete by tonnes of china shipyard.. darocupcake      ( Date: 25-Feb-2015 10:22) Posted: I hope he wun end up bank - rupt instead lolx. one must nt forget vallianz has diversified the business into chartering, ship maintenance n travel...nt to mention ship building might be their next target given nw that oil Is so cheap they will go built oil tanker lol
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nqing87 Supreme	25-Feb-2015 10:27        nqing87 About Contact  Quote this Post!
x 0   x 0  Alert Admin	bro, the travel part is it sacarsm lol.. i dont see vallianz going travelling leh.. that acquisition is so minor,  just probably ways to reduce their travelling expenses.. chartering will still be the main business, and i think it' s the most profitable in terms of margin.. never go shipbuilding.. china can build tonnes of them.. see otto, their shipbuilding segment so weak.. do high spec vessel like vard also cannot given the current market condition.. do simple ones will also get outcompete by tonnes of china shipyard.. darocupcake      ( Date: 25-Feb-2015 10:22) Posted: I hope he wun end up bank - rupt instead lolx. one must nt forget vallianz has diversified the business into chartering, ship maintenance n travel...nt to mention ship building might be their next target given nw that oil Is so cheap they will go built oil tanker lolx RedEye1811      ( Date: 25-Feb-2015 10:18) Posted: Bro...u must be going to make a fortune then as undoubtedly given your confident prediction u will be shorting this counter to the max....congrats on the shorting windfall u going to be banking...
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nqing87 Supreme	25-Feb-2015 10:22        nqing87 About Contact  Quote this Post!
x 0   x 0  Alert Admin	bro, u talk on what basis one? i see the order book and the period of fulfilment, i dont see 2015 & 2016 will be bad year for vallianz as well.. it shld be better or around same, given that 2014 FY report have not factored in the results of those companies that they had acquisited.. im more worried about 2018 & beyond which the bulk of the order book would be completed.. they need to get more orders.. earlybird14      ( Date: 25-Feb-2015 10:10) Posted: THis is the best ever result that they can have. After this result, is down down down till bankrupt.
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