C80 conversion 3:1
Exercise price 1.60 + (0.02 x 3) = 1.66
Days left : 11

Now last done mother : 1.52

If Mother kaboom on Monday 15 sen to RM1.67, u still lost money.

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@Jason

There are those still holding at 40 sen - imagine still collecting since the first drop?

Any possibility of share consolidation like 10 to 1 or 20 to 1? Thereafter, Right Issue to raise additional funding.

500Bilis Repost again and again for the benefits of all since they choose for unjust deletion rather than to answer whether the sharing is malicious.




500Bilis A quick look at Netx Trade Receivables -

As at 30/06/18 : RM18,074,000
As at 30/11/19 : RM6,360,000
Reduced by : RM11,714,000

However the reduction of RM11,714,000 mainly NOT due to repayment from debtors. But due to -

1. Allowance for doubtful debts : RM7,096,000
2. Bad debts written off : RM1,730,000
Total : RM8,826,000

Basically RM8.8m (75%) is already considered doubtful (likely unable to recover) & bad debts (already can’t recover).

In summary, for every RM1 debts due to Netx, the company only able to recover RM0.25!

How long a company can sustain with this poor debts collection when revenue is already so low?

p/s : please look at page 4 of Q6 report ended 30/11/19
03/02/2020 11:37 PM
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500Bilis Another point to note -

As at 30/11/19, PPE is RM10m and Intangible Assets is RM20m.

Netx has been paying a lot for Intangible Assets i.e 2x higher than PPE, but the value ain’t paid wisely by Netx. Why??

Because an amount of whopping RM2.8m is written off! Meaning part of the RM.4m losses is due to intangible assets no longer carry economy benefits/value to the company and hence, need to write off.

Netx really have to invest wisely in goodwill or software rights/solutions or whatsover intangible assets and not continue burning cash like no tomorrow.
03/02/2020 11:50 PM


500Bilis Post removed. Why?
03/02/2020 11:50 PM
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500Bilis Typo error on P&L losses, correction below -

Because an amount of whopping RM2.8m is written off! Meaning part of the RM7.4m losses is due to intangible assets no longer carry economy benefits/value to the company and hence, need to write off.
03/02/2020 11:53 PM
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500Bilis Just a sharing the info from QR @ Nov19.

Do u think malicious or personal attack to anyone which justify another deletion?

Just give it a thought, what impression is given to readers or potential buyers of Netx with all these unjust deletion?

Cheers...
03/02/2020 11:58 PM

04/02/2020 8:48 AM
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500Bilis Good morning all!

Can anyone give some comments whether my posts are malicious which required deletion?

What is their intention?
04/02/2020 8:49 AM
04/02/2020 9:23 AM

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No disclaimer clause or asking buyer to do own due diligence but asking public to continue buy buy and buy Netx over here in this forum.

Those suffer lost in future, can actually sue him.

Better report all this to SC. Let me find out more info this week.

>>>>>


Invincible calvintaneng, the convirus of i3, is spreading rumours of netx getting nfcp, he should be reported to the SC and Bursa for that.
03/02/2020 3:27 PM

stockraider U ask yourself when did sifu calvin con on NETX leh ??

>>> He told us he already sold his 2 Spore houses to buy Netx and waiting to sell more houses to buy buy & buy Netx. Did he sell his houses?

Said 2 sen to 4 sen to 8 sen to 18 sen to 30 sen...coming

Losses are not due to the below mentioned points.

The below 2 points are not other operating expenses, they are Balance Sheet items hence already capitalised & not charged out to P&L.

The losses RM7m is not cash spent on PPE or marketable securities. Balance Sheet items & P&L expenses are 2 very different things.

Cheers...


>>>>>


calvintaneng Other operating expenses

1. Rm4.16 millions for purchase of ppe. Equipment needed for Network fiber infrar jobs in anticipation of Nfcp job roll out

2. Rm3.468 millions in Mlab.
Since Netx is a holding company. It invests in subsidiaries or in other company securities

Total more than Rm8 calvintaneng Other operating expenses

1. Rm4.16 millions for purchase of ppe. Equipment needed for Network fiber infrar jobs in anticipation of Nfcp job roll out

2. Rm3.468 millions in Mlab.
Since Netx is a holding company. It invests in subsidiaries or in other company securities

Total more than Rm8 millions

So ?
01/02/2020 9:29 PM

Hi Invincible28, if u didn’t subscribe the RI - wouldn’t the losses is bigger as the nos. of shares after consol is reduced by 50x? If have plans not subscribing, u probably would have sold on 21/1 ie before ex date at 4sen to 3.5 sen?

Hello, just a thought even though Im not an accounting expert...

1. If purchased PPE, the amount is already capitalised in Balance Sheet & thereafter depreciated over a period of time say 5 yrs ie 20% per annum. Only the monthly depreciation is charged to P&L as part of admin expenses

2. If purchased market securities, this amount already capitalised too in Balance Sheet. The losses in P&L ie RM7m is nothing to do this marketable securities unless it’s an impairment (mkt value lower than carrying value in books)

Conclusion, only monthly depreciation is included in the RM7.4m losses not whole PPE value RM4.16m, hence, the losses are mostly day to day operating expenses...

Cheers.

>>>>>


DO YOU KNOW MATHS, ACCOUNTING & BUSINESS?

YOU MUST NOT DO SURFACE READING

YOU MUST LOOK DEEPER TO "SEE THE REAL BOTTOM LINE"

LOSS OF RM7.4 MILLIONS IS NOT A LOSS AT ALL IF YOU KNOW MONEY GOES

RM4.16 MILLIONS WENT TO PURCHASE OF EQUIPMENT TO GET READY FOR NFCP JOB AWARDS

RM3.846 MILLIONS INVESTED IN MARKETABLE SECURITIES

TOTAL INVESTED IS OVER RM8 MILLIONS

TERP about RM0.12 vs.
Buy OR RM0.005, total RM0.105 + RM0.005 = RM0.11

Why not?

Hope everyone stay cheerful and not being upset. We reap what we sow. May all regardless supporters or critics of Netx prosper in our investment endeavour.

Have a beautiful weekends and be happy.

Cheers.


p/s - thanks for sharing the input/comments on QR...RM33,000!

More worrying is some are so upset and started cursing bad words on critic comments...this is also another dumb action which bring more harm to Netx and wouldn't not lift its share price.

@ 3iii agreed fully. Ya, created wrong perception to potential investors...all comments deleted, left only those supporters..there should be a balance.

Unnecessary red flag or deletion non supportive comments have brought more harm than good to Netx share price.

Despite the unnecessary and overdone deletion of non-hostile but non-supportive comments, the price is in fact coming down and buyers are getting lesser.

Cheers 3iii...Independent Thinking! +1

Hi all, greetings!

Happy Chinese Lunar New Year to all.

Relax, be cool, be happy....first day of CNY not auspicious to quarrel.

Everyone doesnt need to be upset to anyone, chill ya.

Wait for Tuesday, we shall see. Enjoy our lunar break first ya everyone.

Cheers!

Congratulations to all those fighters! We have won!

Fantastic!

Aye Captain Mable!

I opt to fight on....

@ CharlesT

U r right, the warrant exercise price is 16.5 sen : )


@ Jenova

My bad, the exercise price to convert mother share is 16.5 sen.


Cheers

Good morning guys

@ Jenova, if u refer to warrant itself, it’s given free on the basis of 1 warrant for every 4 RI shares subscribed.

If u refer RI, it’s 10.5 sen.

Cheers...

@ monetary

Totally agreed, market waiting to sapu at 3.5 sen, just look at the huge Q vol.

In fact, Im queuing too, hehehe.

Cheers...

Hi IIImNoob

If based on 4 sen, it shall be 0.1238 but with foc warrant, it will be lower than this price.

Ya, agreed that eventually it all depends on market support and acceptability of this exercise, hence the price 0.1238 may also drop.

However, based on current support at 0.04 to 0.035, it’s good indication of market positive response.

Cheers

Cheers Sis Mable

May all prosperous in the coming CNY...

Not to mention FOC warrant...

If exercise all, RM0.1238 vs RM0.132 is aldy a gain....

1,000,000 shares brought @ 4 sen, total RM40k paid.

After consol, 1mil shares become 20,000 shares @ RM40k paid earlier.

20,000 shares entitled RI of 2,000,000 shares at RM0.105.

If exercise all RI, total additional fund need fork out is RM210k.

Total shares in hand 20,000 + 2,000,000 = 2,020,000 value at RM40k + RM210k = RM250k or RM0.1238 per share.

Imagine those didnt opt for RI, RM40k for 20,000 shares...

Hi Monetary

Exemption in Dec 13 announcement refer to exemption from mandatory take over under para 4.08(1)(B).

In Nov last year, Ekuinas has already committed to subscribe for the exercise for RM183 million.

Major shareholders wont be exempted. Corporate exercise applies to all shareholders ie major or minor across the board

Apparently the ex right price is 13.2 sen after consolidation.


“The rights issue price represents a discount of approximately 20.6% to the theoretical ex-rights price (TERP) of Icon shares of 13.2 sen after adjusting for the share consolidation, calculated based on the five-market day volume weighted average market price (VWAMP) of Icon shares up to and including Jan 8, being the last market day immediately preceding the date of this announcement, of 5.7 sen per Icon share.

Mable

2.50 is the price after share consol. Ie 0.05 x 50. Share qty reduced by 50. Ie if 500,000 shares, after consol it bcomes 10,000 shares at 2.50. 500k shares bcome 10k is great dilution if dont take up RI.

If were to take up, 10k x 100 RI = 1 mil shares x 10.5 sen, forking out RM105k.


Cheers

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