We will all be alright.


I hope the market is not bearish today based on what is happening here today

Akpaamunsi:


And you had to use an igbo name to write the satire Tribalism is ingrained in the blood of every yoruba man. Spits

I give up. I have always used Kunle, Tunde, Aminu and Musa in the past.


All the same, I no dey look Uche face

mikeapollo:


Consistent, huge cash-backed profits will resolve the problem for Uche (I just marvel at how you people have given Oando a new name )

You can't have cash backed profit and you won't pay dividends, have a negative working capital and shareholders fund plus compounding tax liabilities.


By the way I was not referring to a stock on NGX

emmanuelewumi:



I didn't think they will delist, they might restructure the business.


It is a conglomerate with interest in flour milling, agriculture, food production, sugar production, port management, real estate, fertilizer production, logistics etc

They planned to spin-off the company into 4 businesses few years ago. I wonder why they stopped

crownprince2017:
Why is it when fmn is out of debt that they want to delist at #70, we suffer together but they want to enjoy the fruit alone. Na wayo they want do ooooo.

I didn't think they will delist, they might restructure the business.


It is a conglomerate with interest in flour milling, agriculture, food production, sugar production, port management, real estate, fertilizer production, logistics etc

BabsO2:


No matter the argument FCF is between N100b & N200b

What is free with a negative equity that is greater than that, negative working capital that is greater than that.

Infact there is no basis for the calculation of Return on Equity because equity is less than zero, it is negative over N200 billion.


No basis for the calculation of Return on Invested Capital

BabsO2:


Uche's business is MEGA
Unaudited 2023.

Using audited result will be misleading. Wait till he resolves the argument he is having with his auditors, accountants and tax professionals

BabsO2:


Not used to calculating free cash flow. I understand the concept. Look at the cashflow statement. Oando had a neat positive FCF in 2023 unaudited of N105 billion.

Please can experts in FCF calculations please cross-check.

Uche business is not up to this size na.


Is this an audited report?

GeeKudi:


The 20k to 40k is no longer in the realm of projection. The revenue from selling MW to the national grid is no longer in the realm of projection. The fact that Uche is a favored son (nothing wrong with this, we all wish to be) is not a projection.

Why do you want to permanently tie Uche down to his past and not accord him any chance of survival at all?

How does MW relate to Uche.

Uche sells phones and computers at Ikeja. And you are talking about MW


He is still having arguments with his auditors, accountants and tax professionals about 2023 financial reports, you are talking of 2024.

I met Uche at the club last weekend , he even bought drinks for me, he confessed things are looking up , but no be how you dey paint am

GeeKudi:


From 20,000bpd to confirmed 40,000bpd in few days after taking over, with projections for 100,000bpd by December this year. Uche may have had a rough past but an objective evaluation of Uche's future shows promises of good fortune.

Cash is real but earning is an opinion.

There is usually a 70% probability that forecast will go wrong.

Uche can't just come out of his negative net asset and negative working capital by virtue of the purported increase in revenue.

In fact to harness the opportunities he will go deeper in debt.

It is not all growth that leads to profitability and it is not all profitability that creates wealth, it is not all wealth that is sustainable.

It is when the tide is over that we will know those that are swimming naked.

Olaide1295:

In this case, they want to subsidize imports and not locally produced petrol. They’ll setup Alhaji against the masses.

Unfortunately we don't have the resources for that.

Unless they have the backing of the Presidency, I don't think it will fly

Olaide1295:

NNPC is a cesspit of madness. With all going on, they are still importing petrol because that is where they make money from.
https://www.youtube.com/watch?v=e7-XmfEmCkM&feature=youtu.be

They can import provided there is no more subdisdy.

BabsO2:


Prayer time?
Pray for a successful joggling of short term cash flow and smooth turnaround of the business. Pray dividends start rolling from this year cashflow. Pray book value turns positive this year so that analysts can start their valuation calculations with audited and unaudited financial statements. Pray pray pray

E be like say na Mountain of Fire and Miracles you dey go.


Kuku pray for N500 to $1.

Make fuel come down to N300 per litre

Just musing this Tuesday morning, I am yet to recover from yesterday's hangover.


My writing is just a satire and should not be assumed that I was referring to anyone.


Have a blessed week

megawealth01:


Lead me not into temptation oooooo

Only one name is coming to my mind but I won't call that name

Uche is now born again, he got gonorrhea from one of his side chicks.. Since he got cured few months ago, he is now sober apart from that he is now in his 50s and has decided to get closer to God.

Unfortunately people are still very skeptical, let us see as events unfolds

BabsO2:


A real toast of the town as restaurants and clubs are making tons of money as the ladies flirt with Uche all over the place. Meanwhile Emeka no give the restaurants and clubs any reason to smile as his trade volumes are small.

Yes most ballers and socialites are highly indebted, they will always use debt to service debt


Pray you don't work for an employer who is a socialite or a baller

Tpharell:

Now, this is a rather bleak picture!
But Uche is able to keep up appearances, and is considered the toast of the town amongst young women in the area.

That is where goodwill, packaging, connection, social capital and PR management comes in

BabsO2:


He made cash from his buying and sell business as well as from his production business now. Yes he sold the house and jeep to liquidate some labilities as the jeep is just a fuel guzzler wasting money away in this time of high fuel price. While that house is not really an investment as it was a loss making venture as tenants don't pay timely, neither is the property full accupied and there are always repairs to be done amongst other fees. He is not doing too badly joggling his working capital.

He has not earned any dividend in 5 years. Thank God Uche has a God-fearing and supportive wife.

Uche has not been able to audit his 2023 financial account and also has outstanding tax liabilities.


Thank God Uches uncle was recently elected as a Senator and he try his best to support his nephew to bounce back


One thing you can't take away from Uche is that he is highly calculative, mouthed, he is ladies man being a Lagos boy with street credibility


I will advise you to study his accounts again, he doesn't have free cash flow, working capital is in negative same with solvency state

BabsO2:


But debt is not the biggest item in Uche's liabilities. But provisions for the school he opened with his side-chick to settle omo-onile as well as provision he made for removing his business when he retires. He infact has not spent the provision but set aside the money on paper. Yet his JV school and assets are generating surplus cash. He pays his bankers, employees and contractors as when due and still had surplus cash.

No record of free cash flow for Uche, infact he had to sell his Jeep, land and house in order to enhance liquidity yet his liabilities are more than his assets


Another major problem with him is with his working capital

He found out he could get cheaper loans from First Bank, so he got another loan from First Bank in order to settle Access Bank because those guys at Access are Badass

Very good provided there is no subsidy

emmanuelewumi:




This N3 Trillion worth of Asset is confusing, better to always look at net asset


Emeka has N300 million worth of asset, Uche also has N300 million worth of asset. Emeka and Uche are at par on assst basis.


Emeka has personal debt, mortgage loans and business loans of N160 million, whereas Uche has personal debts, mortgage loans and business loans of N350 million due to accumulated and compounding interest on his loans


Emeka has a net asset or net worth of N140 million, which Uche has a negative net asset or net worth of (N50 million).


Even though they have the same assets, by the time we look at their net assets Emeka and Uche are not at par

Assuming the N300 million asset of Emeka and Uche generate the same annual cash flow of N100 million per annum.

Emeka can use N70 million to service his N160 million debt, reinvest in his business.


Whereas the N70 million annual cash flow of Uche can't service his N350 million debt. He will rely on overdraft for the running of his operations, will always be renegotiating loans with his bank, will be using debts to service debt


The only way Uche can get out of this quagmire is recapitalize his business, inject more capital in form of equity.

BabsO2:


Oando booked a higher provision for decommissioning activities of N176b compared to SEPLAT's N117b in 2023. Even though they both reported having N3T worth of assets in 2023

This N3 Trillion worth of Asset is confusing, better to always look at net asset


Emeka has N300 million worth of asset, Uche also has N300 million worth of asset. Emeka and Uche are at par on assst basis.


Emeka has personal debt, mortgage loans and business loans of N160 million, whereas Uche has personal debts, mortgage loans and business loans of N350 million due to accumulated and compounding interest on his loans


Emeka has a net asset or net worth of N140 million, which Uche has a negative net asset or net worth of (N50 million).


Even though they have the same assets, by the time we look at their net assets Emeka and Uche are not at par

godlyguy:


OANDO shot themselves in the leg while trying to MEDIA HYPE.
They should just improve on the financials instead of all these unnecessary media dramas

Leave matter for Mathias. You are sounding like a broken record.


Chill till the result is out.

Although I don't expect much as per the negative shareholders fund or insolvency status of the business business for the next 2 years and above

Glimpsetv:
Watch the amusing moment when the controversial Nigerian singer, Portable, meets Peter Obi. He was captured on camera bowing in respect while greeting Obi and showering him with praises, humorously adding that Nigerians are hungry.

Portable was, however, disappointed as Obi didn’t give him any money. He went on to say, 'Obi didn’t drop any cash, o, and if it had been Tinubu he met like this, he would have dropped something.'

Enjoy the funny scene, and feel free to leave your thoughts in the comments.


https://www.youtube.com/watch?v=rSBjCotiU0w?si=t8FgTx9SwDwC9U7f

He does not owe you a Kobo. Why should he dash you money

Render services and you will be paid for that

Divineability:


Kindly throw more light. What is PE? A'm sorry, I'm new here.

Private Equity investors

Agbalowomeri:
Don't be surprised if the government refineries suddenly start functioning and producing PMS. It's all good sha

It is cheaper building a new one

Ballzproblem2:
nope unless you believe naira will outperform dollar.

Your investments can outperform dollar

Late release of audited financial report to the investing public is a red flag.

Paying dividends 9 months after the financial year is also a red flag as per the liquidity and cash position of the business.

mikeapollo:

The accounts for one financial year must be audited and filed with statutory and regulatory bodies e.g. CAC, FIRS, NUPRC etc before interim or quarterly results of subsequent years can be released.
The FY2023 audited accounts for Oando is due for release by ending September

Even banks that requires rigorous scrutiny by CBN, SEC have all released their 2023 audited financial report, some have even released their H1 2024 audited financial report.

megawealth01:
I don't know why @godlyguy never show face

Q2 ended on the 30th of June 2024, I wonder why the result is not out 10 weeks after. Even banks whose results were audited and approved by CBN have started publishing their results

mikeapollo:

Q2 2025 results can only be released after FY2024 audited accounts had been released, and that is schedule to be out on or before Sept 30.

Referring to Q2 2024 and not Q2 2025

BabsO2:


Oando had a negative SHF of N214b in unaudited 2023 from a priot year negative SHF of N183b. Its rate of depletion of shareholder funds decelerated in 2023. The depletion of shareholder funds started in 2019 with a huge acceleration.

Looking at SEPLAT. Its shareholder funds increased in 2023 by N800b

Oando should be able to get a positive SHF in 2024 mid year assuming its unaudited 2023 is not restated. This is premised on SEPLAT's SHF growing by another N1000b in the first six months of 2024. Turning a negative N214b shareholder's fund to positive right now should not be a beggie for OANDO. Otherwise it has very very very serious issues.

You don dey fear ni. A positive shareholders fund is not possible in the next 2 yeas organically except through injection of more capital that will be a minimum of N1 Trillion or the current financiers convert their loans to equity.

Just wondering why Q2 financial report is not yet out