Goodwill

421 days ago

Versarien Annual Report out: what it was hiding part 1 – the heroic Graphene growth assumptions supporting nil impairment

Finally, a week after publishing dreadful results Versarien (VRS) has published its full annual report for the 18 months to 30 September 2022. When this company goes bust, what it was hiding will be used to drag it and auditors BDO through hell and back, via the FRC. The main issue is goodwill and the balance sheet but there is also the pay rise loathsome  Neill Ricketts was given.

1525 days ago

Versarien Plc – why wasn’t the Goodwill for the plastics business impaired at interim stage?

Are the CFO and NEDs at Versarien (VRS) up to the job? Is it storing up more bad news until the finals? Are its boasted net assets now effectively bogus? Compared to the looming cash crisis, the Nomad quitting, and the unravvelling of RNS lies these might seem less than critical issues but they do matter.

1559 days ago

EXCLUSIVE: Versarien – even management or the auditors no longer believe a substantial growth in Graphene sales is credible in the near future

The annual report does not lie. It is just a shame that the Bulletin board savants do not read them carefully. Like all companies, Versarien (VRS) is required to carry out an annual impairment test to justify the carrying value of goodwill recorded on the balance sheet which is £4,431,000 and comprised the following: 

3405 days ago

Tom Winnifrith BearCast 26 December - 'T is the season of Goodwill for Quindell

Following the shock Rob Fielding revelations of yesterday, conversations with three current and former Quindell employees and some early morning reading of the Quenron (QPP) 2013 accounts, notably page 57, I have more shock disclosures about Quindell and its acquisitions and rather tough questions both for the fraudsters and for the bumbling incompetents at KPMG who signed off on such utter gibberish and obvious lies.

3521 days ago

Quindell & Himex: how many shares in itself has Quindell sold this time? And More.

The last time that the vendor of Himex sold a business to a Rob Terry run company it was sold for £50 million. At the same time certain other related businesses were lobbed into the pot and all in all it cost The Innovation Group c£60 million all in goodwill which was all written off within a year. Cosy was a cosy deal for some but not for Rob Terry believers – as explained HERE. Will it be different this time? I now refer you to the 2014 interims from Quindell and the year to March 2013 results for Himex which you can see HERE. Red Flags for lunch anyone?