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2021-2040 of 2126
Another pump and dump?
Making so much losses ans yet ppl still pump the share up?
Omg
Making so much losses ans yet ppl still pump the share up?
Omg
Response to Question 1:
The Company has today, released an announcement in relation to, inter alia, an unqualified opinion given by the Company&rsquo s independent auditor, but including an emphasis of matter to draw attention to the material uncertainty related to going concern in its independent auditor&rsquo s report dated 31 March 2017 for the financial statements of the Group for the financial year ended 31 December 2016. The Company wishes to inform shareholders that average selling prices for the Group&rsquo s P4 in March 2017 had increased by about 15% as compared to the average selling prices in February 2017. In the three-month period ended 31 March 2017, the Group had also continued the production of P4 on a limited scale, whereas in the past, the Group typically ceased P4 production in December and only resumed production in late April. The Company would also like to highlight that it is part of the Group&rsquo s overall strategy to explore opportunities to maximise shareholders&rsquo value in relation to the Group&rsquo s business. From time to time, the Group may be in discussions with other parties regarding potential business opportunities. However, such discussions are preliminary and incomplete at this juncture and the Company wishes to highlight that the outcome of these discussions cannot be certain and there is no assurance that they will materialise into any transaction. The Company will make an appropriate announcement in the event of any material developments in relation thereto. Save as disclosed above, the Company is not aware of any information not previously announced concerning the Company, its subsidiaries or associated companies which might explain the trading activity.
Response to Question 2:
The Company is not aware of any other possible explanation for the recent unusual trading activity of the Shares. However, the Board wishes to highlight that the Company had on 24 March 2017 issued and allotted 112,664,875 rights shares and 112,664,875 warrants pursuant to a renounceable rights cum warrants issue, with the rights shares and warrants commencing trading with effect from 9.00 a.m. on 27 March 2017 and 28 March 2017, respectively, which may potentially account for the trading activity.
Response to Question 3:
Yes, the Board confirms that the Company is in compliance with the listing rules and, in particular, Rule 703 of the Catalist Rules. The Company has obtained the Board&rsquo s approval on the replies to the queries as raised by the SGXST. In addition, the Board collectively and individually takes responsibility for the accuracy of the replies to the queries as raised by the SGX-ST on 31 March 2017.
Results Annoucement:
(A) EMPHASIS OF MATTER BY INDEPENDENT AUDITOR ON THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2016
(B) RESTATEMENT OF BALANCE SHEET AS AT 31 DECEMBER 2015 DUE TO FINALISATION OF VALUATION OF NET IDENTIFIABLE ASSETS ACQUIRED IN THE ACQUISITION OF THE LY RESOURCES GROUP
2. Going concern
The Group and the Company incurred a net loss after tax of $1,734,000 and $1,417,000 respectively in the financial year ended 31 December 2016 (&ldquo FY2016&rdquo ) compared to a net profit after tax of $2,209,000 and $382,000 respectively in the financial year ended 31 December 2015 (&ldquo FY2015&rdquo ). In addition, the Group&rsquo s current liabilities as at 31 December 2016 exceeded its current assets as at 31 December 2016 by $4,902,000 as compared to $7,605,000 as at 31 December 2015. The Group also incurred net cash outflows from operating activities of $2,632,000 (2015: net cash inflows of $9,542,000) in FY2016. The above factors may indicate the existence of a material uncertainty which may cast significant doubt about the Group&rsquo s and the Company&rsquo s ability to continue as going concerns.
In the opinion of the directors, the Group and the Company will be able to continue as going concerns for the following reasons:
(a) based on the current cash flow projections, the Group expects to generate net cash inflows from its operating activities in the next 12 months from the date of the financial statements and
(b) discussions will be carried out by the Group with financial institutions to rollover its existing loans as and when they fall due and to also extend new facilities to the Group. The Group had recently renewed facilities of $2,084,000 (RMB10 million) in January 2017. As at the date of this report, the Group has aggregate facilities of $5,002,000 (RMB24 million) which are due in June 2017 and July 2017. As the Group has in the past not defaulted on any of the loans extended to it, and barring unforeseen circumstances, the Directors expect that the Group will be able to obtain the requisite financing for the Group&rsquo s operations.
(c) As disclosed in Note 42 &ldquo Events occurring after the reporting period&rdquo to the financial statements, the Group completed its Rights cum Warrants Issue exercise. After completing the redemption of Redeemable Preference Shares (Note 25) and repayment of loan due to a director (Note 26), the Company received net proceeds of $1,987,000 in March 2017. As a result, the consolidated financial statements of the Group have been prepared on a going concern basis.
If the Group and the Company are unable to continue in operational existence for the foreseeable future, the Group and the Company may be unable to discharge their liabilities in the normal course of business and adjustments may have to be made to reflect the situation that assets may need to be realised other than in the normal course of business and at amounts which could differ significantly from the amounts at which they are currently recorded on the Group and the Company&rsquo s balance sheets. In addition, the Group and the Company may have to reclassify non-current assets and liabilities as current assets and liabilities. No such adjustments have been made to these financial statements.
Arcideaco ( Date: 31-Mar-2017 16:23) Posted:
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Q7. What happens if I am unable to cover my short sell position within trade date (T)?
Any failure to cover the short positions on the trade date would result in a buying-in instituted by the SGX on the due date (T+3 at 3:00 pm) (For eve of public holidays on T+3 at 11:00 am). Please note that the following additional cost will be borne by you for buying-in :
a. Buying-in processing fee of $75 (subject to 7% GST).
b. Commission rate of 0.75% of contract value.
In the event that the Buying-in is not completed by T+3, Buying-in will continue on T+4 & T+5 with a penalty of S$1,000 or 5% of contract value, whichever is higher.
Should there be any Buying-in not completed by T+6, the short position will be subject to procurement. If the position is not covered by T+6, the penalty is $5,000 per day until the short position is fully covered.
RAIN91 ( Date: 31-Mar-2017 15:58) Posted:
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if the trading is halt . isit able to sell ?
what blackgold number 2?
chaoticleo ( Date: 31-Mar-2017 14:49) Posted:
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maybe it will be blackgold number 2?
The more days it halted, the more jialat for shorty. Non delivery of coverage position. Could not cover. Open if up, will rush to cover. If want to squeeze shorty, just push a bit, buying and covering will concurrently take place. Just my view.
RAIN91 ( Date: 31-Mar-2017 14:06) Posted:
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why jialat ?
shorty jialat liow
RAIN91 ( Date: 31-Mar-2017 12:55) Posted:
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will it resume today ? AsiaPhos W200323 / 1C9W
halt until when
Trading halted around at 1105.
Affected by AM... now oso bleeding liao....
Dont think so, FY results doesn' t look good compared to previous year.
Maybe a PnD.
Daxtheman ( Date: 07-Mar-2017 11:50) Posted:
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Doing a GKE, possibly?
relaxz ( Date: 07-Mar-2017 10:22) Posted:
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Going 19cents?
If you are interested in Asiaphos, take a look at its nil paid rights. Each one carries the right to subscribe to a new share at 0.08, with a free warrant also exercisable at 0.08. At current price of 0.10, the right share should carry a value of (0.10-0.08)=0.02. But because it also gives you a free warrant which has an intrinsic value of also (0.10-0.08)=0.02, the total value abscribed to the nil paid should be at least 0.02+0.02=0.04. This is not counting the time value of the warrants. Yet the last traded price of the nil paid is only 0.018, a big discount to the value.
People seems to have forgotten about the free warrant.
Asiaphos riding
Asiaphos is owned by the Ongs which are also shareholders of listed Hwa Hong.
More importantly, the free float is not very big and like most of the bombed out resource
stocks, each one is taking turns to rally in a rising tide. Catch the wave just like surfing and ride along.
Volume / price is picking up. :)