Scomies has secured a conditional letter of offer for a bridging facility to meet the shortfall for the repayment of the guaranteed serial bond due on 14 December 2019.
Technically speaking, the risk of default is resolved and Bursa will grant the waiver of pn17 after capital reduction and share conso.
Capital reduction will make the balance sheet more transparent due to "unknown asset value". SCOMIES management made a few impairments for last quarters report to show the actual value of assets. This exercise also helps SCOMIES showing growth after oil price trending up lately.
I always believe that the only way to learn about a company is to put in your stakes in it. So when Scomies announced positive result, yesterday I tried to test the water. I throw in 2K into Scomies at 0.08 just for fun since it closed at 0.075 the day earlier. You know what? I got it immediately. Now it has retracted back to 0.075. This is my 10th Fossil Fuel Battleship. I will call her Vangelis..
So let's sail together from here and conquer our Paradise...
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
lee_m2020
4,819 posts
Posted by lee_m2020 > 2019-11-21 10:56 | Report Abuse
scomies got potential rebound to.10 again..