₦airaland Forum

Coolcash1:
And the debt burden continues to balloon whilst crude oil price is falling casting serious doubt on the ability of the assets to repay these humongous debt.

Today’s pump is one of the strategies to be deployed by the top management to counter the negative audit opinion and sentiments about the ability of the entity to continue to exist as a going concern.

Anyway, my exit strategy remains intact and very solid.

To newbies on this forum, don’t fall for the merchants of evil trying so hard on this platform to promote this moribund stock if you’re not ready to lose your shirt.

Forget anything about investing your hard earned funds in this disguised “CIBEX”.

It’s the dog that wants to get lost that ignores the whistle of its owner.

Ire o.

Una too get bad mouth for this group

A wise one said: The eye that was once closed opens with double vision

Due diligence is a phrase that has been used a zillion times on this forum.

BDO had been the auditors of OandO since 2022 and this going concern has been a constant in ALL their reports to date.

I'm really surprised at the way and manner a few are trying to make it look like a new development.

FY & Q Reports are beyond just figures.
Let's try and read in order to make informed decisions.

✌🏽

You enjoy being judge and jury

I'll advice all honest people to get [and study] the FY audit reports of the ff:
1. Caverton pg 22 (PWC literally didn't comment on the going concern and permit me to inform 'honest people' that BDO would give a worse verdict with that FY report).
2. Honeywell (yes the same one)

Be kind enough to indulge us with your findings...

While we wait for the disclosure of Q1 '25, it's Over & Out ✌🏽

godlyguy:
You are the only honest person on this oando saying the truth about the scam "oando". An audit firm sends strong warnings but some selfish people here are still defending a disaster waiting to happen.
Anyone that attacks me will be heavily attacked by me. Wale and oando will send many out of this market soon if care isn't taken.

Be wise

ChatGPT will be the end of us, as we will suspend common sense to reach for fringe "possibilities."

For comparison, here are the components of cost of sales for Presco, which I hope is illuminating. (Some of them relate to the mills, though.)

- Raw materials consumed
- Upkeep of mature plantings, harvesting & laboratory expenses
- Employee cost (where they separated "salaries in cost of sales" from these in admin cost)
- Mill processing, refinery and packaging cots
- Depreciation of property, plant and equipment
- Depreciation of right-of-use assets
- Repairs and maintenance

So Ellah is running their own plantation and selling produce without any of these costs? See magic!

ositadima1:
I admit I didn't listen to the interview prior to my comment, but my point still stands: it is possible. My argument hinges on possibility. Here is why:
...

The rule of thumb in company financial statement auditing, is that the Auditor is a whistle blower weather the CFO , CEO or MD likes it or not , the auditing company has saved it reputation from be tag as acomplices by puting it out their to you in white and black.

what else do you what?
it is now your duty to protect your capital as your primary duty,because of unforseen uncertainty,which your small eyes and sense can not perceive, your will soon start to hear polictical dispute ,here and there and giving election are close by.

Your two primary duty rules are
1) Dont loss money
2) dont forget rule number one.

HesInMe:
ChatGPT will be the end of us, as we will suspend common sense to reach for fringe "possibilities."

For comparison, here are the components of cost of sales for Presco, which I hope is illuminating. (Some of them relate to the mills, though.)

- Raw materials consumed
- Upkeep of mature plantings, harvesting & laboratory expenses
- Employee cost (where they separated "salaries in cost of sales" from these in admin cost)
- Mill processing, refinery and packaging cots
- Depreciation of property, plant and equipment
- Depreciation of right-of-use assets
- Repairs and maintenance

So Ellah is running their own plantation and selling produce without any of these costs? See magic!

You still haven't disproven my submission. All I see here is a struggle to be right. Many auditing techniques are applied on the NGX, and while I don't know why, that's simply my observation.

Some auditors classify depreciation under cost of sales, while others record it under operating expenses. For example, Okumoil’s 2024 audited financials didn’t even bother to distinguish between the two. Can you point out which one is cost of sales and which is operating expense in that report?

You might argue for item 11 — "Raw materials and consumables used" — but they didn't include depreciation there either. Instead, it was presented as a standalone item.

So, either make a solid case — based on accounting principles — that the scenario I clearly described in my previous post is impossible, or simply admit that you don’t know. There's no need to blame ChatGPT.

SonofElElyonRet:
Stop it! Leave Israel alone and they'll leave you alone. The average Arab considers it a duty from Allah to kill Jews. Hamas in its charter explicitly states the destruction of the state of Israel as their goal. Hamas uses gazans as human shield. Why isn't Israel bombing west bank with same ferocity? October 7 was a terrorist attack that claimed over 1,000 Israeli lives, almost all being civilians who were killed brutally by Hamas operatives.
Israel will not give hamas an opportunity to implement their own "final solution"

Most of you are so dump by thinking that it all started in October 7, before October over 237 Palestinians have been killed same year. Israel killed her people with helicopter by trying to prevent Hamas. The Zionist who frequently rapping, killing children, occupied land have no dignity for human life. Israel is a terrorist rogue state.

Ellah
Either we load or we offload.
10% or more is certain
Pullback of 20-30% is also certain.
Na so we see am for Ellah
Today is Thursday the final trading day for the week.

I know many will say my defense on oando and attack on ellahlakes is because I am involved in oando and don't have ellahlakes. What could be seen as hate analysis. Pls I don do such.i dey fear God and not any human.

As a business man closing shop for any business is the last option when you have tried all humanly possible.
So be objective when attacking and say what u would have done differently for the survival of the biz as closing shop is not an option

For onado I was concerned when they changed auditors. I was thinking this new guys may not be transparent which they have proven us wrong.
The going concern which they raised which we have seen many results ignore or omit here is good.The company is trying to solve it
Now they have collected fresh loan for it after paying down previous loan
They will equally need additional fund as stated by one oga to the tune of 360 billion. Which I believe they can achieve if they can get the main WC.

Now on ellahlakes. Some oga raised concerns on lack of provision for cost of sales which is not my big concern. I think they decided to omit it to reintroduced it in full year audited results or is part of administrative expenses which I cannot say if it is allowed.
My attacking is that management is not being transparent/auditors.
The revenue coming from a farm with such land capacity is questionable. It means the main crop cultivated is not reasonably based on biological assets provision.
They are not being truthful on other crops which should provide revenue for expenses as some who knows the sector.
Why the secrecy of the farm/Mills based on its address, pictures or videos to the public. This makes me believe they are hiding the actual capacity of the farm not that they don't have a farm
My attack is for them to be transparent so that if they come for funding which they desperately need.Those who are interested will know what is at stake before putting thr money.

KarlTom:
You enjoy being judge and jury

I'll advice all honest people to get [and study] the FY audit reports of the ff:
1. Caverton pg 22 (PWC literally didn't comment on the going concern and permit me to inform 'honest people' that BDO would give a worse verdict with that FY report).
2. Honeywell (yes the same one)

Be kind enough to indulge us with your findings...

While we wait for the disclosure of Q1 '25, it's Over & Out ✌🏽

You already sounded judgemental from calling me "judge and jury" in your oando matter. You definitely don't know what the auditors know

orriyomi33:
Good afternoon house.

I made a purchase of some units of PZ cussons stock on Bamboo app since the 16th of May, but the the order was not filled neither was my capital returned.

I have sent mails to their support team but they said they are working on it since.

How do I recover my capital pls?
Thanks in anticipation

I don't know why people are using all these apps to trade when they can simply do it on web platforms with reliable stock brokers like Morgancapital.

Go drag them on X.

Firebox123:
check their reviews before investing on their app

I use them for mainly for tbills and co

godlyguy:
You are the only honest person on this oando saying the truth about the scam "oando". An audit firm sends strong warnings but some selfish people here are still defending a disaster waiting to happen.
Anyone that attacks me will be heavily attacked by me. Wale and oando will send many out of this market soon if care isn't taken.

Be wise

You attack is welcome. Then if you are the part of the management what would be you next lines of action or what what would you want the management to do based on what is on the financials.
I hope you know closing shop is out of the table.I want to hear that your wisdom now

Agbalowomeri:
Lol na investing.com technical you dey follow. You go miss road

Agba i use the same ooo. Please suggest better alternatives.

godlyguy:
You are the only honest person on this oando saying the truth about the scam "oando". An audit firm sends strong warnings but some selfish people here are still defending a disaster waiting to happen.
Anyone that attacks me will be heavily attacked by me. Wale and oando will send many out of this market soon if care isn't taken.

Be wise

Ref. the bolded, are you saying that there are people in this whole wide world that invests in only stock market and nothing else and one sector, only one company and that company is OandO? If Not, then, don't take panadol for another persons headache. We are all CEOs of our respective portfolios!

After being away from the nigeria stock market for some years and very out-of-touch with the current market. I am looking to dive back in today regardless.

Please can someone recommend some good stock market picks.

My risk appetite is moderate.

The invested funds i sourced from outside the country, so I am looking for return that can cover possible downward FX rate movement and currency exchange margin.

I am looking at ideally between 20% - 30% ROI within the year. This is to allow me cover for potential FX devaluation (which I have assumed will be no more than 10-15% over the next 6-7 months) and 5% to cover exchange margin.

Thank you

KarlTom:
A wise one said: The eye that was once closed opens with double vision

Due diligence is a phrase that has been used a zillion times on this forum.

BDO had been the auditors of OandO since 2022 and this going concern has been a constant in ALL their reports to date.

I'm really surprised at the way and manner a few are trying to make it look like a new development.

FY & Q Reports are beyond just figures.
Let's try and read in order to make informed decisions.

✌🏽

I want to know why the auditors concerns is loud now on oando
Why didn't we see it on this stock
Mtn IB,sugar, nestle, Japaul, ellahlakes ,caverton, many insurance companies Cadbury etc
Does it now means oando auditors are the best and should be rated high within the industry..
It does not mean you should not attack when you see something wrong but do it while asking for improvement to our benefits. It will be nice to state what should be done better and salute when right moves are made too.
I will never agree with anyone who believes closing shop is the best option as a business man
All I want is to see genuine effort and transparency in trying to come out of the mess. This can be based on different options available

On my personal matter.They say my focal lens have extended oh as person dey old.I don't like glasses based on the irritation it gives siting on my nose.
Therefore to read small things on phone is becoming wahala.
Pls based on those informed on tech stuff Which of these AI apps will you recommend can give most accurate results on stock search and analysis. I don they look for short cuts to this things

Alhaji says he would announce something very soon but he wants Nigerians to know that the Dangote refinery belongs to them.

Could this be the moment we have been waiting for? The listing of the Dangote refinery? Fingers crossed.

GeneralDae:
Alhaji says he would announce something very soon but he wants Nigerians to know that the Dangote refinery belongs to them.

Could this be the moment we have been waiting for? The listing of the Dangote refinery? Fingers crossed.

I'm eagerly awaiting the listing of ALHAJI REFINERY

Emir01:
Most of you are so dump by thinking that it all started in October 7, before October over 237 Palestinians have been killed same year. Israel killed his people with helicopter by trying to prevent Hamas. The Zionist who frequently rapping, killing children, occupied land have no dignity for human life. Israel is a terrorist rogue state.

Fanatic who can't spell

Those in ACCESSBK should EXPECT a BREAKOUT within 3weeks.

Meanwhile LOCO plotting his Next MONKEY HUNTING MOVE

Hello house pls I need some advice, I'm new to this stock thing. So firstly what broker do you recommend I hook up with. Any suggestions on what stock to buy, I need stocks that will increase by at least fivefold in the next 4-5 years. Do you think Bua cement can multiply 5 folds in the next 5years? I can invest up to 10mil

KarlTom:
ConOil almost at our junction.

Then we feast...

Let us know when to join the party

PharoahIII:
Hello house pls I need some advice, I'm new to this stock thing. So firstly what broker do you recommend I hook up with. Any suggestions on what stock to buy, I need stocks that will increase by at least fivefold in the next 4-5 years. Do you think Bua cement can multiply 5 folds in the next 5years? I can invest up to 10mil

As for the broker to use we have good brokers well represented here. I use three brokers but love the services of MERISTEM

StockMarket isn't predictable as regards profits but you will do better to equip yourself with the needed knowledge and skills for this game. You can start by reading from page one of this forum to date.

Ding

PETERiCHY:
Those in ACCESSBK should EXPECT a BREAKOUT within 3weeks.

Meanwhile LOCO plotting his Next MONKEY HUNTING MOVE

ELLALAKES don give am uppercut

PharoahIII:
Hello house pls I need some advice, I'm new to this stock thing. So firstly what broker do you recommend I hook up with. Any suggestions on what stock to buy, I need stocks that will increase by at least fivefold in the next 4-5 years. Do you think Bua cement can multiply 5 folds in the next 5years? I can invest up to 10mil

Is this metaphor or autocorrect

Agbalowomeri:
ELLALAKES don give am uppercut

When the hunter becomes the hunted

Those who no buy CILEASING at these current prices will chase the price when Q1 result surface on or before 28.
Watch out for investors sentiment over the share price now and coming days

Book value still remains 15.18 and share price below 5.Chai chai chai