₦airaland Forum

MadmaxX489:
Scarcasm!
I bought at 6.18 and have sold and made 8 figures profits from Oando. Members are entitled to give an opinion on a stock but full disclosure regarding your bias should be made. The fact you don’t like the stock doesn’t mean it won’t make money for others.
On a lighter note you have dogged my question;

Please enlighten me with the facts at your disposal regarding Dangote rice Ltd that informed your opinion it was worth more than the other merging entities! Dangote rice wasn’t even in existence but Alhaji chose to play a fast one. In saner climes would Alhaji have been able to pull such trick just by registering a biz name and ascribing it some thin air valuation?

KarlTom:
If I may come in on DANGRICE.

A company (not a biz name as claimed) of such magnitude DEFINITELY has Private Investors with certain percentage holdings.
Let's say a total of $1bn was invested. If Alhaji were to list 10million shares of that company, it translates to 100 per share.

Now for DANGFOOD to be formed, a valuation of ALL the entities would have been done to ascertain the ratio...

Nigeria is a sane clime too...

mikeapollo:
Please, let us avoid this kind of comment; it is unnecessarily personal and could be seen as being petty.

It does not matter and it's no one's business whatever percentage anybody decides to invest as long as the person investing has not come to beg anyone here for his daily bread.
The person who has invested 1%; 50%, 70% or 100% etc. of his capital in any stocks may be a million times richer and wealthier than the person who is trying to mock him out of sheer ignorance, and sometimes absolute stupidity.

I know you are not the stupid type, even if a complete idiot is trying to make you his friend and seeking your company in his foolishness!

mikeapollo:
It is a fact that there has never been a single oil and gas upstream company in Nigeria's history which commands the quantum of oil and gas reserves that Oando has acquired, that has been declared bankrupt or liquidated because it was no longer a going concern!
Oando is having cashflow problems, but they have assets that are worth more than their total liabilities! How quickly they are able to generate the necessary liquidity to settle their liabilities is the challenge here!

emmanuelewumi:
I have said it and will say it again and again.

We should allow contrary opinions to thrive here, but Team Oando will always shout down people with contrary opinions even when they present verifiable facts and figures.

robobo:
Oga Karl i beg naaaaaaa

if Alhaji put any amount there ($1b or not) why was it hard for him to convince SEC that the money is in the firm coffers ( either as fixed asset or as current asset)

Blaqq2:
make chams and japaul good abeg

Locotrader:
Check how they are trading on the floor to determine if their results will be good

KarlTom:
SEC declined because of "non operational status of DRL" (which is quite understandable)...

Ginalex:
Only Japaulgold is showing good signs based on the trading activities so far

yMcy56:
GTCO @53!

The banks seems to be looking up...


Make Una rest from OANDO discussion small.....😁
Once results are released, the suspension will be lifted....
If results are good, it will come back stronger, so I Blvd.
Those that rushed to buy yesterday may know something, we don't know the reason for their actions.

designking:
I just bought my first ever Aradel shares now @₦506 per unit. Hopefully when it falls below ₦500, I will buy my major units.

KarlTom:
If I may come in on DANGRICE.

A company (not a biz name as claimed) of such magnitude DEFINITELY has Private Investors with certain percentage holdings.
Let's say a total of $1bn was invested. If Alhaji were to list 10million shares of that company, it translates to 100 per share.

Now for DANGFOOD to be formed, a valuation of ALL the entities would have been done to ascertain the ratio...

Nigeria is a sane clime too...
Lol 😂
If Mr A names a building a “bank” with no operating license and regulatory approvals and invites you to deposit your funds, who you do so?
Alhaji sought to play a quick and fast heist because it’s the Nigerian way of doing thing's.

robobo:
My Oga "non operational status of DRL" this what we call "high faluttin language".

if money dey the company even if not operational he go dey the company account for bank (abi no be sooooo)

i beg money no dey is simply na money no dey.

lollllllllllllllllllllllllllllllllllllllllll

KarlTom:
My final take on this:

- Have a minimum of three (3) years’ operating track record;
- Have a pre-tax profit from continuing operation of not less than N300million cumulatively for the last three (3) fiscal years and a minimum of N100 million in two (2) of these years;

Check the ff:
1. Listing requirements:
https://ngxgroup.com/exchange/raise-capital/listing-requirements/
2. NGX Rule Book:
https://ngxgroup.com/?wpdmdl=26399&ind=1605119440735

PS: DRL is not listing on its own so these rules do not apply absolutely

mikeapollo:
It is bad for Oando to delay or default in releasing its results, but that does not mean that its shares would be suspended from trading just immediately. Tedies.
The unaudited reports for FY2023 had already been published, so technically only HY2024 is outstanding.

I am not making excuses for Oando, they must be held responsible for these delays and investor uncertainty.
However, sometimes, an inefficient external audit firm can also cause delays in finalizing the audited accounts thereby creating problems for the company.
My own organization is a victim of such inefficient external auditors. We used to finalize our accounts within 1 month after our financial year. We have done this for more than 15 years. A new external auditor (one of the Big 4) took over, they offered and agreed to prepare the accounts, but it took them almost 3 years to finalize the accounts for FY2020, because they were experiencing a lot of staff turnover (Japa).
We are currently finalizing our accounts for FY2021 and in arrears for accounts for FY2022 and FY2023, something that was never heard of before the new auditors took over. The previous auditors ( a Big 4 too) were far more efficient than the new one.

But Oando needs to be more up and doing with their audited accounts. These delays have serious implications for many stakeholders, especially investors

KarlTom:
ACCESS on full bid

designking:
It shocked me. Access Bank has a lot of potential

KarlTom:
My final take on this:

- Have a minimum of three (3) years’ operating track record;
- Have a pre-tax profit from continuing operation of not less than N300million cumulatively for the last three (3) fiscal years and a minimum of N100 million in two (2) of these years;

Check the ff:
1. Listing requirements:
https://ngxgroup.com/exchange/raise-capital/listing-requirements/
2. NGX Rule Book:
https://ngxgroup.com/?wpdmdl=26399&ind=1605119440735

PS: DRL is not listing on its own so these rules do not apply absolutely

Sunrisepebble:
I hope this means an end to the 18/19 naira days. I’ve had a lot of patience with them.

designking:
Aradel will profit greatly from this Oando suspension. It is a good thing SEC suspended Oando and send a warning to most companies that don't respect their rules.

Short term investors should stay clear of Oando cos Wale can even delay the suspension for the next 6months to 1year until the books are perfect to the present public.

Oando don hang many Jijo investors XMas money 😄

designking:
Aradel will profit greatly from this Oando suspension. It is a good thing SEC suspended Oando and send a warning to most companies that don't respect their rules.

Short term investors should stay clear of Oando cos Wale can even delay the suspension for the next 6months to 1year until the books are perfect to the present public.

Oando don hang many Jijo investors XMas money 😄