15225 replies to this topic

[DayTraderDad]

Polly you going to like this:

 

http://creditflux.co..._medium=twitter

[DayTraderDad]

Sorry Lionel did not make much the real negative post from Polly came to late for market to react. HAHAHAHA

Thanks Polly made it at closing auction in Frankfurt!!! Hahaha please lets do the same Monday.

[DayTraderDad]

Once this report will be handed over to too many people this thing will be leaked to the market. I'm astonished that the report has not been leaked yet. Showing to me that management is trustworthy. And I'm also happy management takes their time to ensure everything is done in the best interest of the company. There are so many experts currently involved who don't want to lose their reputation. As soon as the AFS are out they will publish the report and everyone can do what they want with it. Print it ,burn it or whatever suits their needs. 

 

We should leave the past behind once AFS have been restated and audited as Steinhoff cannot change what happened. 

 

We should focus on the future and see how management will turn this giant around back to profitability. 

 

Can someone show me a company that is currently trading at 11 Euro cents that is producing revenue to the value of around 18 Billion Euro??? 

Good post andi222 people should move on focus on the next Steinhoff that's around the corner.

[DayTraderDad]

Hey Mr haha u made money shorting snh today?...that nickname gosh haha

Sorry Lionel did not make much the real negative post from Polly came to late for market to react. HAHAHAHA

[Lionelza1]

Agree with u 100% andi.. Damage has been done, fix problem and move on

[andi222]

Once this report will be handed over to too many people this thing will be leaked to the market. I'm astonished that the report has not been leaked yet. Showing to me that management is trustworthy. And I'm also happy management takes their time to ensure everything is done in the best interest of the company. There are so many experts currently involved who don't want to lose their reputation. As soon as the AFS are out they will publish the report and everyone can do what they want with it. Print it ,burn it or whatever suits their needs. 

 

We should leave the past behind once AFS have been restated and audited as Steinhoff cannot change what happened. 

 

We should focus on the future and see how management will turn this giant around back to profitability. 

 

Can someone show me a company that is currently trading at 11 Euro cents that is producing revenue to the value of around 18 Billion Euro??? 

Edited by andi222, 22 March 2019 - 06:05 PM.

[Polly]

https://www.fin24.co...inhoff-20190322

 

This management simply cannot keep this report "privileged" as they have been declaring many times.

 

"

....

Yunus Carrim, the chair of Parliament's oversight committee on finance, told the Hawks to immediately secure the report from Steinhoff directly or take legal steps to access it. 

...

"

Privileged..................all makes sense  to dots adding up...definite rat...what they trying to hide......

[Lionelza1]

Hey Mr haha u made money shorting snh today?...that nickname gosh haha

[Lionelza1]

we were reading the same thing same time eh Tom

[Lionelza1]

https://m.fin24.com/...inhoff-20190322

Hawks waiting patiently for report, they worked hard investigating just 1 transaction, that report is payday for them when they leak it

[Tom]

https://www.fin24.co...inhoff-20190322

 

This management simply cannot keep this report "privileged" as they have been declaring many times.

 

"

....

Yunus Carrim, the chair of Parliament's oversight committee on finance, told the Hawks to immediately secure the report from Steinhoff directly or take legal steps to access it. 

...

"

Edited by Tom, 22 March 2019 - 05:35 PM.

[Polly]

and hence report said accounting regularities.... ( not fraud)

 

definitely smell a rat here.....

 

Truth will prevail.....

 

 

Anybody else here figured this out?

 

Whay im saying is this is one of SAs biggest corporate scandal/ fraud committed and new management is calling it accounting irregularities..

 

 

Means to me new management is in cahoots with MJ and his clan!!!

 

 

PWC got their ass covered with that mandate....Means PWC report not showing real deal...

 

 

Deloittes will have to sign accounts....Expect first major delays  and then major impairments as they need to do the investigation in order to sign accounts off

Edited by Polly, 22 March 2019 - 05:21 PM.

[Tom]

Steinhoff was responsible to provide the share holders, regulatories, JSE, and FSE with accurate financial statements, they clearly failed to do so (no matter what the reason or excuse was), and so they are legally liable to any consequent losses, and can be (actually are and will be) sued and fined by the share holders, regulatories, JSE, and FSE, for every cent they lost.

Edited by Tom, 22 March 2019 - 05:23 PM.

[DayTraderDad]

and hence report said accounting regularities.... ( not fraud)

 

definitely smell a rat here.....

 

Truth will prevail.....

 

 

Anybody else here figured this out?

Polly yes you correct I did and do smell a rat that's why I posted the link to MJ Accountancy Manual for Dummy's. 

Read it its amazing how this whole thing of accountancy works its seems there are huge holes in the rules/standards.

 

I have been saying all along and you though I was crazy but are we all sure MJ was doing illegal stuff?? I still think the biggest joke (against my hope) is MJ will never get to wear orange coverall and will keep on jogging/shopping for the rest of his life. Just look at the army of lawyers he had when he went to the parliament.

[Polly]

and the mother of all evils by this now tainted  management , the request/ mandate  to PWC by them was to uncover accounting irregularities....

 

So is the PWC report worth the paper its written on???

and hence report said accounting regularities.... ( not fraud)

 

definitely smell a rat here.....

 

Truth will prevail.....

 

 

Anybody else here figured this out?

Edited by Polly, 22 March 2019 - 04:44 PM.

[Polly]

and the mother of all evils by this now tainted  management , the request/ mandate  to PWC by them was to uncover accounting irregularities....

 

So is the PWC report worth the paper its written on???

Edited by Polly, 22 March 2019 - 04:17 PM.

[DayTraderDad]

tweet from Theo Botha

 

Yes the public deserves the unvarnished truth about South Africa’s spectacular corporate fraud but surely shareholders also deserve better treatment after all they are the owners?

 

 

and another

 

 

 

Steinhof fCEO Louis du Preez joined Steinhoff as its general counsel in 2017 from Werksmans.The source said Du Preez asked that the PwC contract be structured to include Werksmans, to ensure the report could be legally privileged

The company paid R5.4 mil per day for the investigation so surely it has the right to use that report to get money back from the 8 implicated so why give the report out so the 8 can prepare a defence.

The accountants/auditors failed which allowed SNH to land in this mess so now its time for the lawyers to sort the mess so best do it with a well respected law firm. I just cannot understand why people cannot simply figure this out but I guess we need sensation news.

[Polly]

tweet from Theo Botha

 

Yes the public deserves the unvarnished truth about South Africa’s spectacular corporate fraud but surely shareholders also deserve better treatment after all they are the owners?

 

 

and another

 

 

 

Steinhof fCEO Louis du Preez joined Steinhoff as its general counsel in 2017 from Werksmans.The source said Du Preez asked that the PwC contract be structured to include Werksmans, to ensure the report could be legally privileged

Edited by Polly, 22 March 2019 - 03:34 PM.

[Polly]

Hat off to SNH current management that have relentlessly worked to restore equilibrium to all vested parties amid negative press and the Polly drones.  Leadership has significant Law experience and is playing it by the book and good old SA loves to kick a lying dog.

 

 

A tweet:

 

if this is how the board chooses to treat their owners then the owners need to fire the board and get people in that have more respect for them. By not firing the board the owners allow this to happen. I expect noting will happen as the sa fund management industry is captured.

[DayTraderDad]

MJ Accounting Manual for Dummys:

 

https://www.livemint...valuations.html

Crisil Research came across these loopholes by studying the notes to account and footnotes in the annual reports of companies. While most of them would probably not amount to a violation of the law in letter, at least some are breaches of the law in spirit.

 

“To call them malpractices would be harsh. The companies are just exploiting the loopholes that exist in the law," said a partner at a Mumbai-based firm of chartered accountants, who didn’t want to be identified.