Batch
Not a Batch
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« Reply #1845 on: Friday, June 25, 2021, 17:39:30 » |
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we knew there was a link between power and horsey Curran for ages though.
I don't see the link between horsey Curran and donkey Curran other than the surname, which looks coincidental
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horlock07
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Lives in Northern Bastard Outpost
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« Reply #1846 on: Friday, June 25, 2021, 17:41:38 » |
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If it's the horse racing guy, then no, it isn't.
The name's a coincidence.
Is it entirely a coincidence or just a member of the same family albeit not Taylor's old chap.... Sent from my SM-A125F |
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Flashheart
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« Reply #1847 on: Friday, June 25, 2021, 17:43:49 » |
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Is it entirely a coincidence or just a member of the same family albeit not Taylor's old chap....
Sent from my SM-A125F
A completely different family I think. |
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stfcjack
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The Swindon lot don't seem to respect you
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« Reply #1848 on: Friday, June 25, 2021, 17:45:15 » |
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kaufman
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« Reply #1849 on: Friday, June 25, 2021, 17:47:13 » |
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Was Morfuni aware of this large debt before today? It's a pretty scary amount.
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welshred
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« Reply #1850 on: Friday, June 25, 2021, 17:48:13 » |
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Was Morfuni aware of this large debt before today? It's a pretty scary amount.
It's a good point. I wonder if he had any idea how much we're in debt when he said he would clear it all. |
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kaufman
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« Reply #1851 on: Friday, June 25, 2021, 17:50:14 » |
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I seem to remember he said he'd seen some accounts but I do worry of the enormity of it all. Wasn't it 4 million he said he had ready to go?
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Miles Mayhem
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« Reply #1852 on: Friday, June 25, 2021, 17:52:21 » |
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How much is the debt?
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kaufman
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« Reply #1853 on: Friday, June 25, 2021, 17:57:55 » |
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13 Million unless i've read it wrong.
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Flashheart
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« Reply #1854 on: Friday, June 25, 2021, 18:00:52 » |
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A lot of that would be to Power. I don't know if that would still be due to him after the sale - my brain's a bit fried after today.
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Posh Red
Posh by name, Posh by nature
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« Reply #1855 on: Friday, June 25, 2021, 18:06:58 » |
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Clem had said he would clear all legitimate debts.
Perhaps he’s got some info that the debts owed to Power don’t meet that criteria.
Power would presumably have to have proper evidence of it to take the matter to court when the time comes
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RobertT
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« Reply #1856 on: Friday, June 25, 2021, 18:19:19 » |
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13 Million unless i've read it wrong.
2.3m is current liabilities, just the costs of doing business and due within 12 months. Most of that will be where you pay suppliers in arrears for services. 4.6m is owed to Power (assuming he now owns the Debenture) or others who have loaned the business money The rest, as far as I can understand Accounting, is essentially share capital that hasn't been paid for (someone with better skills in this needs to confirm). I think there are ways of dealing with that and it's not something that would be money to Power. THINK! |
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4D
Or not 4D that is the question
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I can't bear it 🙄
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« Reply #1857 on: Friday, June 25, 2021, 18:21:13 » |
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Retained earnings or shareholders funds is the figure you should be interested in.
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4D
Or not 4D that is the question
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I can't bear it 🙄
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« Reply #1858 on: Friday, June 25, 2021, 18:27:07 » |
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Has anyone got a copy of the accounts? Rob, is that just current liabilities or NET current liabilities? The NET takes into account the current assets.
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RobertT
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« Reply #1859 on: Friday, June 25, 2021, 18:35:00 » |
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Net Liabilities is 6.6m - which I'd understand to be the money value of the business
The 13m number is the accumulated P&L - which is the worth of the business, basically it's been fucked for a while raking up losses that had to be paid through equity or loans.
I assume Power is essentially getting 250k, Morfuni will take on 6.6m of net debt that needs paying (which is because there are essentially zero assets in the business). Power certainly is owed a good portion of that debt, but Power may well have a personal liability to Standing and/or others.
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