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Shen Yao (Miracle Medicine?): New Beginning! Post Reply Rate topic
Iwnabethevbest Member	18-Nov-2021 21:31        Iwnabethevbest About Contact  Quote this Post!
x 0   x 0  Alert Admin	I personally think that the response is well written and reassuring. Hock88      ( Date: 18-Nov-2021 21:16) Posted: SGX querying now.. this was expected but I didn' t expect to be so fast   . That' s why I commented it' s a substantial(CL> CA) as highlighted by auditor. ' as there' s nothing they can do to the auditor' s report other than to accept it.....' this is incorrect  independent auditor' s views is very important and is meant for end users(share holders sgx etc etc) to assess e accuracy of the financial statement that was prepared   and to ensure there is no mistatement..   because shareholders depends on the statement to make sound judgment and independent auditor ensures the statement is reliable  of course, I also highlighted that we cannot say there is mishandling of accounts until proven  the auditor has cast doubt on the accuracy of the statement    CheongArgh      ( Date: 18-Nov-2021 10:46) Posted: I' m actually with the opinion that the report is true n honest and it' s not due to the fact that the company try to manipulate it' s price.....as there' s nothing they can do to the auditor' s report other than to accept it.....
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Hock88 Senior	18-Nov-2021 21:16        Hock88 About Contact  Quote this Post!
x 0   x 0  Alert Admin	SGX querying now.. this was expected but I didn' t expect to be so fast   . That' s why I commented it' s a substantial(CL> CA) as highlighted by auditor. ' as there' s nothing they can do to the auditor' s report other than to accept it.....' this is incorrect  independent auditor' s views is very important and is meant for end users(share holders sgx etc etc) to assess e accuracy of the financial statement that was prepared   and to ensure there is no mistatement..   because shareholders depends on the statement to make sound judgment and independent auditor ensures the statement is reliable  of course, I also highlighted that we cannot say there is mishandling of accounts until proven  the auditor has cast doubt on the accuracy of the statement    CheongArgh      ( Date: 18-Nov-2021 10:46) Posted: I' m actually with the opinion that the report is true n honest and it' s not due to the fact that the company try to manipulate it' s price.....as there' s nothing they can do to the auditor' s report other than to accept it..... black_white      ( Date: 18-Nov-2021 09:33) Posted: Greedy pigs. Looking at how things are going, seems like the company wants to price the upcoming performance options for their employees at 0.0021-0.0024 range (lower range of 2/3).
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CheongArgh Master	18-Nov-2021 11:15        CheongArgh About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	Noted.....price is already rock bottomed.....I' ll just freezed it in cold storage..... Still, am with the belief that this will come alive in the not too distant future either with the management' s push or the BBs..... Don' t think the management wants to see it' s share price stagnant for long if they are doing well..... black_white      ( Date: 18-Nov-2021 10:55) Posted: You got my point wrong. I was never responding to the comments on the financial statement. I am of the same view as you concerning the financial statement. I was referring to the price action and volume on bid/ask today, in preparation of pricing for upcoming performance options CheongArgh      ( Date: 18-Nov-2021 10:46) Posted: I' m actually with the opinion that the report is true n honest and it' s not due to the fact that the company try to manipulate it' s price.....as there' s nothing they can do to the auditor' s report other than to accept it.....
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black_white Master	18-Nov-2021 10:55        black_white About Contact  Quote this Post!
x 0   x 0  Alert Admin	You got my point wrong. I was never responding to the comments on the financial statement. I am of the same view as you concerning the financial statement. I was referring to the price action and volume on bid/ask today, in preparation of pricing for upcoming performance options CheongArgh      ( Date: 18-Nov-2021 10:46) Posted: I' m actually with the opinion that the report is true n honest and it' s not due to the fact that the company try to manipulate it' s price.....as there' s nothing they can do to the auditor' s report other than to accept it..... black_white      ( Date: 18-Nov-2021 09:33) Posted: Greedy pigs. Looking at how things are going, seems like the company wants to price the upcoming performance options for their employees at 0.0021-0.0024 range (lower range of 2/3).
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CheongArgh Master	18-Nov-2021 10:46        CheongArgh About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	I' m actually with the opinion that the report is true n honest and it' s not due to the fact that the company try to manipulate it' s price.....as there' s nothing they can do to the auditor' s report other than to accept it..... black_white      ( Date: 18-Nov-2021 09:33) Posted: Greedy pigs. Looking at how things are going, seems like the company wants to price the upcoming performance options for their employees at 0.0021-0.0024 range (lower range of 2/3).
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black_white Master	18-Nov-2021 09:33        black_white About Contact  Quote this Post!
x 0   x 0  Alert Admin	Greedy pigs. Looking at how things are going, seems like the company wants to price the upcoming performance options for their employees at 0.0021-0.0024 range (lower range of 2/3).
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Hock88 Senior	18-Nov-2021 01:52        Hock88 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Please don' t use below comment to make judgement call on your trade. Just interpreting since you ask.. but basically it' s clearly spelled out by the auditor.. the SP is already near rock bottom and a long buy queue at 0.002 and thus won' t fall any much lower.. other factors will affect the SP more than below auditor report.. Hock88      ( Date: 18-Nov-2021 01:47) Posted: During audit, usually the auditor will raise many questions about the P& L and balance sheets etc etc and company will have to provide documents/info to support.. the auditors found discrepancies but company cannot provide supporting evidence.. doesn' t look good. But you cannot say it' s distorted until proven.. base on P& L(loss), balance sheet(CL of company and group are substantially > CA), is of view that the business cannot sustain.. but there is disclaimer that there is lack of documentation/records overall independent auditor view isn' t good  watashievil      ( Date: 18-Nov-2021 01:13) Posted: can some guru shed some light on this? Does it meant their FS is distorted?
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Hock88 Senior	18-Nov-2021 01:47        Hock88 About Contact  Quote this Post!
x 0   x 0  Alert Admin	During audit, usually the auditor will raise many questions about the P& L and balance sheets etc etc and company will have to provide documents/info to support.. the auditors found discrepancies but company cannot provide supporting evidence.. doesn' t look good. But you cannot say it' s distorted until proven.. base on P& L(loss), balance sheet(CL of company and group are substantially > CA), is of view that the business cannot sustain.. but there is disclaimer that there is lack of documentation/records overall independent auditor view isn' t good  watashievil      ( Date: 18-Nov-2021 01:13) Posted: can some guru shed some light on this? Does it meant their FS is distorted?   watashievil      ( Date: 18-Nov-2021 00:53) Posted: DISCLAIMER OF OPINION BY THE INDEPENDENT AUDITORS ON THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 JUNE 2021    1. Insufficient supporting documentation and records Auditor&rsquo s Disclaimer Opinion The following section has been extracted from the Independent Auditor&rsquo s Report and set out in italics below: &ldquo A subsidiary company of Group operating a mine in Australia has capitalised expenditures relating to its mining properties (Note 14) amounting to S$15,852,000 and inventories (Note 19) of $4,991,000 (comprising both ore and gold inventories) in the consolidated statement of financial position as at 30 June 2021. The Group was unable to provide computations and reconciliations to demonstrate the basis of the allocation of costs between mining properties, ore and gold inventories due to the loss of several key personnel. The Group also has mine rehabilitation and preservation provision of $8,861,000 as at 30 June 2021 (Note 28). Subsequent to the year end, an independent rehabilitation liability assessment was requested by the mining regulators to be undertaken of which the provision amount was preliminarily assessed to be S$6,780,000. We have not been provided a reconciliation for this difference. As a consequence, we are unable to obtain sufficient appropriate audit evidence to assess the appropriateness of the carrying values of the mining properties, inventories and rehabilitation and preservation provision reflected in the consolidated statement of financial position as at 30 June 2021 and the consequential effect on mining costs and other related expenses recorded in the consolidated statement of profit or loss for the year. In addition, supporting documents and/or sufficient explanations were also not provided to us to complete the audit of the balances relating to other current assets (Note 18), property, plant and equipment (Note 12), trade and other payables (Note 22), deferred consideration (Note 27) and income tax payable. Accordingly, we are unable to obtain sufficient appropriate audit evidence to determine the appropriateness of these balances in the consolidated statement of financial position as at 30 June 2021 and their corresponding effects in the consolidated statement of profit or loss. 2 Furthermore, the abovementioned matters have impacted our ability to assess the reasonableness of certain key assumptions (such as, operating costs and replacement capital expenditure) used by management in their value-in-use calculations for the impairment assessment on the Company&rsquo s investment in the relevant subsidiary. As a result, we are unable to determine the appropriateness of the carrying value of the investment in this subsidiary amounting to S$67,790,000 as at 30 June 2021 (Note 16), and whether further impairment, or write-back of impairment, if any, is necessary.&rdquo 2. Going Concern Assumptions Disclaimer of Opinion The following section has been extracted from the Independent Auditor&rsquo s Report and set out in italics below: &ldquo We refer to Note 2.1 to the financial statements with respect to the Group&rsquo s and Company&rsquo s ability to continue as going concerns. As at 30 June 2021, the current liabilities of the Group and Company exceeded their current assets by S$7,432,000 and S$47,649,000 respectively. The Group also incurred a net loss of $19,183,000 during the financial year ended 30 June 2021. These factors and other matters disclosed in Note 2.1 to the financial statements indicate the existence of material uncertainties that may cast significant doubt on the Group&rsquo s and the Company&rsquo s ability to continue as going concern. As disclosed in Note 2.1 to the financial statements, the directors are of the view that it is appropriate for the financial statements of the Group and of the Company to be prepared on a going concern basis. As further disclosed in Note 2.1, the ability of the Group and Company to continue as going concern is dependent on its ability to generate positive cash flows from the mining operations assuming that there is sufficient tailings capacity and the availability of sources of financing. However, arising from 3 the effects of the above and lack of supporting documentation and records, we were unable to obtain sufficient appropriate evidence to conclude on the appropriateness of certain key assumptions used in the cash flow analysis to assess the going concern assumption used in the preparation of the accompanying financial statements. Consequently, based on the information available to us, we were unable to determine whether any adjustments might have been found necessary in respect of the aforementioned balances and other elements making up the statements of financial position, consolidated statement of profit or loss, consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated statement of cashflows for the year financial ended 30 June 2021, and the related disclosures.&rdquo
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watashievil Master	18-Nov-2021 01:13        watashievil About Contact  Quote this Post!
x 0   x 0  Alert Admin	can some guru shed some light on this? Does it meant their FS is distorted?   watashievil      ( Date: 18-Nov-2021 00:53) Posted: DISCLAIMER OF OPINION BY THE INDEPENDENT AUDITORS ON THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 JUNE 2021    1. Insufficient supporting documentation and records Auditor&rsquo s Disclaimer Opinion The following section has been extracted from the Independent Auditor&rsquo s Report and set out in italics below: &ldquo A subsidiary company of Group operating a mine in Australia has capitalised expenditures relating to its mining properties (Note 14) amounting to S$15,852,000 and inventories (Note 19) of $4,991,000 (comprising both ore and gold inventories) in the consolidated statement of financial position as at 30 June 2021. The Group was unable to provide computations and reconciliations to demonstrate the basis of the allocation of costs between mining properties, ore and gold inventories due to the loss of several key personnel. The Group also has mine rehabilitation and preservation provision of $8,861,000 as at 30 June 2021 (Note 28). Subsequent to the year end, an independent rehabilitation liability assessment was requested by the mining regulators to be undertaken of which the provision amount was preliminarily assessed to be S$6,780,000. We have not been provided a reconciliation for this difference. As a consequence, we are unable to obtain sufficient appropriate audit evidence to assess the appropriateness of the carrying values of the mining properties, inventories and rehabilitation and preservation provision reflected in the consolidated statement of financial position as at 30 June 2021 and the consequential effect on mining costs and other related expenses recorded in the consolidated statement of profit or loss for the year. In addition, supporting documents and/or sufficient explanations were also not provided to us to complete the audit of the balances relating to other current assets (Note 18), property, plant and equipment (Note 12), trade and other payables (Note 22), deferred consideration (Note 27) and income tax payable. Accordingly, we are unable to obtain sufficient appropriate audit evidence to determine the appropriateness of these balances in the consolidated statement of financial position as at 30 June 2021 and their corresponding effects in the consolidated statement of profit or loss. 2 Furthermore, the abovementioned matters have impacted our ability to assess the reasonableness of certain key assumptions (such as, operating costs and replacement capital expenditure) used by management in their value-in-use calculations for the impairment assessment on the Company&rsquo s investment in the relevant subsidiary. As a result, we are unable to determine the appropriateness of the carrying value of the investment in this subsidiary amounting to S$67,790,000 as at 30 June 2021 (Note 16), and whether further impairment, or write-back of impairment, if any, is necessary.&rdquo 2. Going Concern Assumptions Disclaimer of Opinion The following section has been extracted from the Independent Auditor&rsquo s Report and set out in italics below: &ldquo We refer to Note 2.1 to the financial statements with respect to the Group&rsquo s and Company&rsquo s ability to continue as going concerns. As at 30 June 2021, the current liabilities of the Group and Company exceeded their current assets by S$7,432,000 and S$47,649,000 respectively. The Group also incurred a net loss of $19,183,000 during the financial year ended 30 June 2021. These factors and other matters disclosed in Note 2.1 to the financial statements indicate the existence of material uncertainties that may cast significant doubt on the Group&rsquo s and the Company&rsquo s ability to continue as going concern. As disclosed in Note 2.1 to the financial statements, the directors are of the view that it is appropriate for the financial statements of the Group and of the Company to be prepared on a going concern basis. As further disclosed in Note 2.1, the ability of the Group and Company to continue as going concern is dependent on its ability to generate positive cash flows from the mining operations assuming that there is sufficient tailings capacity and the availability of sources of financing. However, arising from 3 the effects of the above and lack of supporting documentation and records, we were unable to obtain sufficient appropriate evidence to conclude on the appropriateness of certain key assumptions used in the cash flow analysis to assess the going concern assumption used in the preparation of the accompanying financial statements. Consequently, based on the information available to us, we were unable to determine whether any adjustments might have been found necessary in respect of the aforementioned balances and other elements making up the statements of financial position, consolidated statement of profit or loss, consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated statement of cashflows for the year financial ended 30 June 2021, and the related disclosures.&rdquo
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watashievil Master	18-Nov-2021 00:53        watashievil About Contact  Quote this Post!
x 0   x 0  Alert Admin	DISCLAIMER OF OPINION BY THE INDEPENDENT AUDITORS ON THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 JUNE 2021    1. Insufficient supporting documentation and records Auditor&rsquo s Disclaimer Opinion The following section has been extracted from the Independent Auditor&rsquo s Report and set out in italics below: &ldquo A subsidiary company of Group operating a mine in Australia has capitalised expenditures relating to its mining properties (Note 14) amounting to S$15,852,000 and inventories (Note 19) of $4,991,000 (comprising both ore and gold inventories) in the consolidated statement of financial position as at 30 June 2021. The Group was unable to provide computations and reconciliations to demonstrate the basis of the allocation of costs between mining properties, ore and gold inventories due to the loss of several key personnel. The Group also has mine rehabilitation and preservation provision of $8,861,000 as at 30 June 2021 (Note 28). Subsequent to the year end, an independent rehabilitation liability assessment was requested by the mining regulators to be undertaken of which the provision amount was preliminarily assessed to be S$6,780,000. We have not been provided a reconciliation for this difference. As a consequence, we are unable to obtain sufficient appropriate audit evidence to assess the appropriateness of the carrying values of the mining properties, inventories and rehabilitation and preservation provision reflected in the consolidated statement of financial position as at 30 June 2021 and the consequential effect on mining costs and other related expenses recorded in the consolidated statement of profit or loss for the year. In addition, supporting documents and/or sufficient explanations were also not provided to us to complete the audit of the balances relating to other current assets (Note 18), property, plant and equipment (Note 12), trade and other payables (Note 22), deferred consideration (Note 27) and income tax payable. Accordingly, we are unable to obtain sufficient appropriate audit evidence to determine the appropriateness of these balances in the consolidated statement of financial position as at 30 June 2021 and their corresponding effects in the consolidated statement of profit or loss. 2 Furthermore, the abovementioned matters have impacted our ability to assess the reasonableness of certain key assumptions (such as, operating costs and replacement capital expenditure) used by management in their value-in-use calculations for the impairment assessment on the Company&rsquo s investment in the relevant subsidiary. As a result, we are unable to determine the appropriateness of the carrying value of the investment in this subsidiary amounting to S$67,790,000 as at 30 June 2021 (Note 16), and whether further impairment, or write-back of impairment, if any, is necessary.&rdquo 2. Going Concern Assumptions Disclaimer of Opinion The following section has been extracted from the Independent Auditor&rsquo s Report and set out in italics below: &ldquo We refer to Note 2.1 to the financial statements with respect to the Group&rsquo s and Company&rsquo s ability to continue as going concerns. As at 30 June 2021, the current liabilities of the Group and Company exceeded their current assets by S$7,432,000 and S$47,649,000 respectively. The Group also incurred a net loss of $19,183,000 during the financial year ended 30 June 2021. These factors and other matters disclosed in Note 2.1 to the financial statements indicate the existence of material uncertainties that may cast significant doubt on the Group&rsquo s and the Company&rsquo s ability to continue as going concern. As disclosed in Note 2.1 to the financial statements, the directors are of the view that it is appropriate for the financial statements of the Group and of the Company to be prepared on a going concern basis. As further disclosed in Note 2.1, the ability of the Group and Company to continue as going concern is dependent on its ability to generate positive cash flows from the mining operations assuming that there is sufficient tailings capacity and the availability of sources of financing. However, arising from 3 the effects of the above and lack of supporting documentation and records, we were unable to obtain sufficient appropriate evidence to conclude on the appropriateness of certain key assumptions used in the cash flow analysis to assess the going concern assumption used in the preparation of the accompanying financial statements. Consequently, based on the information available to us, we were unable to determine whether any adjustments might have been found necessary in respect of the aforementioned balances and other elements making up the statements of financial position, consolidated statement of profit or loss, consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated statement of cashflows for the year financial ended 30 June 2021, and the related disclosures.&rdquo
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black_white Master	17-Nov-2021 21:59        black_white About Contact  Quote this Post!
x 0   x 0  Alert Admin	You see, how they execute it is still questionable. They say can issue new options as performance reward.... But did they say employee need to pay for them? That was left vague. It could likely be paid from by company' s own pockets - Just like salary and normal cash bonus. To get it free at a fixed value, then to be able to sell it at a higher value than what company has initially give to u sounds like a double gain to a normal employee TheMatrix      ( Date: 17-Nov-2021 21:30) Posted: Then the employee also not happy they get peanuts share to cash out only....
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TheMatrix Elite	17-Nov-2021 21:30        TheMatrix About Contact  Quote this Post!
x 0   x 0  Alert Admin	Then the employee also not happy they get peanuts share to cash out only....
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black_white Master	17-Nov-2021 21:25        black_white About Contact  Quote this Post!
x 0   x 0  Alert Admin	This selldown needs to happen. New share options will be issued to employees soon. They have to price the option less than market price in order for employee to cash out immediately and with instant proft. So will likely stay 2/3 with some selldown to 2 in order for issuance of option at less than 3. It will still be rangebound 2-3 still regardless. This is how china man will play the game for the next few years in my opinion. They just need to keep doing this for a few years, maintaining share price yet issuing more new options. So what if profit increase but share volume keep increasing? Share price unlikely to rise because of that - If that is how chng kay wants to keep fatty water for himself and make all retailers lose hope Thi654321ABCDEF      ( Date: 17-Nov-2021 17:00) Posted: Ya , ok this time i will q at 2.  2 very comfortable for me tankoksee      ( Date: 17-Nov-2021 16:58) Posted: 1/2 otw...
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watashievil Master	17-Nov-2021 17:55        watashievil About Contact  Quote this Post!
x 0   x 0  Alert Admin	yea actually the auditor disclaimer of opinion is quite a worry. shen yao lack of sufficient supporting documents, worry they anyhow pluck number ar. some more key management team exit at such a time. Mr Yao need to get all these sorted man.   Thi654321ABCDEF      ( Date: 17-Nov-2021 17:22) Posted: May be insider news or left hand  to right hand any way i que at 2, worthwhile , nav 2 watashievil      ( Date: 17-Nov-2021 16:56) Posted: 20m sell down already. painful leh. dunno will end up wall taken down also annot? insider news?
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Thi654321ABCDEF Master	17-Nov-2021 17:22        Thi654321ABCDEF About Contact  Quote this Post!
x 0   x 0  Alert Admin	May be insider news or left hand  to right hand any way i que at 2, worthwhile , nav 2 watashievil      ( Date: 17-Nov-2021 16:56) Posted: 20m sell down already. painful leh. dunno will end up wall taken down also annot? insider news?
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Goldblade Senior	17-Nov-2021 17:05        Goldblade About Contact  Quote this Post!
x 0   x 0  Alert Admin	To all brothers and sisters who have gone in at 0.3 or higher dont be disheartned becuase your time will come just need to run marathon. No doubt amoung the penny stocks this is a profit making gem but when 70 percent of big name counters are still undervalued its not right for someone to put their money here hoping for returns.
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watashievil Master	17-Nov-2021 17:05        watashievil About Contact  Quote this Post!
x 0   x 0  Alert Admin	zzz nv sell down at matching. no chance to pick. maybe bb left hand to right hand ar.
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Thi654321ABCDEF Master	17-Nov-2021 17:00        Thi654321ABCDEF About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ya , ok this time i will q at 2.  2 very comfortable for me tankoksee      ( Date: 17-Nov-2021 16:58) Posted: 1/2 otw...
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Goldblade Senior	17-Nov-2021 16:59        Goldblade About Contact  Quote this Post!
x 0   x 0  Alert Admin	This stock will only move when all other stocks are doing well. it just common sense to park my money in a stock with proven track record or even dividends than to leave it here hoping that a big player will come down the chimney and give everyone presents
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tankoksee Supreme	17-Nov-2021 16:58        tankoksee About Contact  Quote this Post!
x 0   x 0  Alert Admin	1/2 otw...
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