348 replies to this topic

[Polly]

L or anybody else besides the pumpers lets see how clever you are and are learning from what i am saying...

 

 

 

1.  I continued to say afs wont be released on time and gave same reason over and over again...What is it

 

( My contacts at Deloitte's have confirmed what the problem is )

 

2. and this from the wannabe Guru

 

The question therefore is:  How is it possible that Steinhoff paid $3.8b for this business in 2016 and yet impairs almost the entire business in a year.  I think that we are perhaps not fully understanding this as we do not have sight of the deeper discussions.  I have been discussing this with investors across the world (including DTD from this platform).  There is still no clarity.  The impairment of Goodwill cannot be almost equal to the entire price paid.  This would mean that MF had no other assets… no tangible assets.

 

 

both answers i have already given...

 

 

 

 

 

 

any for MR Haha , the google professor....check out definition of " sense"...no such term in investing and he uses that over and over again!!!!

 

" I also think the people that write the SENSE have poor understanding of words surely they can explain better. Every time they post vague statements."  

 

 

 

and now the mother of all arrogance , stupidity and foolishness by management....This statement on sens issued today

 

"The audited financial statements for the year ended 30 September 2018 remains scheduled to

be released on Tuesday, 18 June 2019."

 

 

Bloody joke again!!

 

 

 

1. Audit opinion....been saying it for yonks

[Matrix]

I have not looked at the figures at all yet, but immedetiealy went to page 331, which seems to be the obvious concern.

The Audit Opinion.

 

Disclaimer of opinion, no opinion expressed.

 

Material Uncertainty with regard to:

• Going Concern;
• Uncertainty with regard to litigation;
• Taxation effects wrt restatements;
• Control Conclusion wrt certain entities;
• Share in Investment of Conforma;
• Timing of recording adjustments wrt restatements;
• Timing of results of certain property transactions;
• Foreign Currency translation reserve;
• Not having access to Kika Leiner information;
• And then some emphasis of matter.

 

Problem seems to be two-fold:

• Do the figures mean anything and is SNH investable, as the auditors have not approved these figures and state large concerns;
• How does SNH proceed as most of these issues will from an audit point of view definitely cause the 2018 AFS to be disclaimed with no opinion. - You have to resolve the audit findings of prior year disclaimer in order to receive unqualified in the next year.

[Lionelza1]

this is alot of information.....i do not think the 3day rule will apply?

 

time for me to go vote, happy voting day

[Lionelza1]

329 page report! Very informative compared to pwc

Yay steinhoff

[DayTraderDad]

There you go you sick dogs:

Steinhoff - Publication of 2017 Annual Results

Steinhoff International Holdings N.V. (the "Company" and with its subsidiaries the "Group")

The Company has today published its audited annual results for the year ended 30 September 2017, which are available on the Company's website http://steinhoffinternational.com/

The 2018 annual result process is progressing well, and the results are scheduled to be released on Tuesday, 18 June 2019. The Company has, therefore, decided not to hold a press conference or webcast, as with previous results announcements, for the 2017 results but will schedule a combined presentation after the release of the 2018 results. The Company has also included as much information as possible in these 2017 results in order to assist stakeholders.

Shareholders and other investors in the Company are advised to exercise caution when dealing in the securities of the Group.

Stellenbosch, 7 May 2019

[DayTraderDad]

L or anybody else besides the pumpers lets see how clever you are and are learning from what i am saying...
 
 
 
1.  I continued to say afs wont be released on time and gave same reason over and over again...What is it
 
( My contacts at Deloitte's have confirmed what the problem is )
 
2. and this from the wannabe Guru
 
The question therefore is:  How is it possible that Steinhoff paid $3.8b for this business in 2016 and yet impairs almost the entire business in a year.  I think that we are perhaps not fully understanding this as we do not have sight of the deeper discussions.  I have been discussing this with investors across the world (including DTD from this platform).  There is still no clarity.  The impairment of Goodwill cannot be almost equal to the entire price paid.  This would mean that MF had no other assets… no tangible assets.[/size]
 
 
both answers i have already given...[/size]
 
 
 
 
 
 
any for MR Haha , the google professor....check out definition of " sense"...no such term in investing and he uses that over and over again!!!!
 
" I also think the people that write the SENSE have poor understanding of words surely they can explain better. Every time they post vague statements."  
 
 
 
and now the mother of all arrogance , stupidity and foolishness by management....This statement on sens issued today
 
"The audited financial statements for the year ended 30 September 2018 remains scheduled to
be released on Tuesday, 18 June 2019."
 
 
Bloody joke again!!

Why you big stupid old accountant cannot stop insulting people!!!

[DayTraderDad]

So this is were POLLY the TROLL and MINIE ME Lionel are hiding having two little girl conversations and as usual insulting the big people.
Shame on you your inferiority complex showing big time listen to me before its too late GO AND GET HELP POLLY YOU ARE A VERY SICK PERSON!!!

[Lionelza1]

And yes that sens talking about schedule on track for afs 2018....nee fok!

But let me not say more coz ppl think I'm on heavy meds

[Lionelza1]

Yea P u kept saying the more they dig the more problems they will find.

I get the patience bit but how can one be patient when it is steinhoff itself that cannot deliver on their promises, proven time and time and time again. Surely one has to question their ability and credibility? and I feel it's a reflection on the share price.

I said earlier on I don't mind them releasing on Thursday but eish.... They need to start delivering!

I was told to chill and go fishing...i feel like a fisherman and this fish ain't biting! Eish

[Polly]

L or anybody else besides the pumpers lets see how clever you are and are learning from what i am saying...

 

 

 

1.  I continued to say afs wont be released on time and gave same reason over and over again...What is it

 

( My contacts at Deloitte's have confirmed what the problem is )

 

2. and this from the wannabe Guru

 

The question therefore is:  How is it possible that Steinhoff paid $3.8b for this business in 2016 and yet impairs almost the entire business in a year.  I think that we are perhaps not fully understanding this as we do not have sight of the deeper discussions.  I have been discussing this with investors across the world (including DTD from this platform).  There is still no clarity.  The impairment of Goodwill cannot be almost equal to the entire price paid.  This would mean that MF had no other assets… no tangible assets.

 

 

both answers i have already given...

 

 

 

 

 

 

any for MR Haha , the google professor....check out definition of " sense"...no such term in investing and he uses that over and over again!!!!

 

" I also think the people that write the SENSE have poor understanding of words surely they can explain better. Every time they post vague statements."  

 

 

 

and now the mother of all arrogance , stupidity and foolishness by management....This statement on sens issued today

 

"The audited financial statements for the year ended 30 September 2018 remains scheduled to

be released on Tuesday, 18 June 2019."

 

 

Bloody joke again!!

Edited by Polly, 07 May 2019 - 09:23 PM.

[Lionelza1]

Du preezs tone in that parli process when he said Deloitte not invited to the auditors tender.... Not a very smart move hey... Considering u still need their help! Granted he was not CEO at the time... I still feel he's not the right person for the job!

So if they do not publish this week!? Big kak?

[Lionelza1]

so where is the inside info fella who claims to have has all the inside contacts with the use of the words "WE"??

Didnt he get tipped off??

Probably got ripped off by his spies hey

Just weary of people who talk big but not willing to reveal themselves..... Cons if u ask me

[Polly]

so where is the inside info fella who claims to have  has all the inside contacts with the use of the words "WE"??

 

Didnt he get tipped off??

[Lionelza1]

been investing for over 30 years and always a first for something.....


and PS scores again...

never ever saw a sens where they give market info about issuing results after market closes on there web site ...Has to be the PS!!
i need to read the JSE rules on this one...oh sheet forgot PS has the protection of the JSE!!

and now MR Haha after blaming the tea boy , now look for further people to blame on the demise of the PS!! Is he now blaming the security boy or garden boy now for not delivering the message in time??


But but wasn't this all expected??( Big picture) Poor management nuh....been saying it for yonks...Untrustworthy and ?????...Yes u said it!!!

Yea that latest sens kinda ridiculous.... Actually wouldn't mind if they delay till Thursday.... Gives me a chance to be part of the fireworks.... I know ur not in

[Polly]

Your very BIG IF on releasing afs is slowly turning into reality... Wonder if Deloitte is charging overtime

Doubt they will delay for longer than a day? If their latest sens is anything to go by

https://www.sharenet...eq=61&scode=SNH

 haha...best for Deloittes to resign before issuing their opinion....

[Polly]

Your very BIG IF on releasing afs is slowly turning into reality... Wonder if Deloitte is charging overtime

Doubt they will delay for longer than a day? If their latest sens is anything to go by

https://www.sharenet...eq=61&scode=SNH

 been investing for over 30 years and always a first for something.....

 

 

and PS scores again...

 

never ever saw a sens where they give market info about issuing results after market closes on there web site ...Has to be the PS!!

 i need to read the JSE rules on this one...oh sheet forgot PS has the protection of the JSE!!

 

and now MR Haha after blaming the tea boy , now look for further people to blame on the demise of the PS!!  Is he now blaming the security boy or garden boy now for not delivering the message in time?? 

 

 

But but wasn't this all expected??( Big picture)  Poor management nuh....been saying it for yonks...Untrustworthy and ?????...Yes u said it!!!

Edited by Polly, 07 May 2019 - 06:20 PM.

[Lionelza1]

Today all sorts of accounting and audit records will be broken if ,and a very BIG IF. the PS publishes the longest and most complicated restatement note in financial reporting history.
Let's hope it's not note #38

Time for some to stock up on the popcorn and coffee as tomorrow is a public holiday.

It will most probably be the most expensive set of financial statements ever produced as well. Wonder what the fee for audit and other services will be lie? But im sure they wont beat Enron...that cost an entire audit firm..

Your very BIG IF on releasing afs is slowly turning into reality... Wonder if Deloitte is charging overtime

Doubt they will delay for longer than a day? If their latest sens is anything to go by

https://www.sharenet...eq=61&scode=SNH

[Lionelza1]

decided to hold.... Such a tough decision eish

Guess we'll be watching the fireworks from the sidelines!

[Lionelza1]

 

Today all sorts of accounting and audit  records will be broken if ,and a very BIG IF.   the PS publishes the longest and most complicated restatement note in financial reporting history.

Let's hope it's not note #38 

 

Time for some to stock up on the popcorn and coffee as tomorrow is a public holiday.

 

It will most probably be the  most expensive set of financial statements ever produced as well. Wonder what the fee for audit and other services will be lie? But im sure they wont beat Enron...that cost an entire audit firm..

 

 

yea that public holiday is a bit of a mess up....i sure hope they come out with afs by atmost 4:30....am hoping for initial up then i can sell......

 

my target price R2.20.....IF it gets there!

 

I feel this share will provide an opportunity again to buy under R2 (newbies opinion)

[Polly]

 

Today all sorts of accounting and audit  records will be broken if ,and a very BIG IF.   the PS publishes the longest and most complicated restatement note in financial reporting history.

Let's hope it's not note #38 

 

Time for some to stock up on the popcorn and coffee as tomorrow is a public holiday.

 

It will most probably be the  most expensive set of financial statements ever produced as well. Wonder what the fee for audit and other services will be lie? But im sure they wont beat Enron...that cost an entire audit firm..

 

 

BTW have never seen/read  any afs on this PS since 2010...and have no intention of wasting my time reading new one if they do produce on time..

I trust my gut feel more than their AFs        

That should fuel the pumpers...