Verde Share Capital HistoryHello fellow Verde shareholders,
As a newly come aboard shareholder, I have had the luxury of having all Company data to date to review and assess to advise os to my investment decision, unlike those of you who bought in at various times over the last 13 years. This is my summary on the Company share capital history up to the present day.
There are currently 46.029 million shares issued and outstanding. These shares are carried in the financial statements at $18,752,000 at their issued price of $0.3918, plus $47,128,000 in "premium" paid above the basic share value, for a total of $65,880,000. This provides an average share issue price of $3.51. In fact shares have been issued at various points in the Company's history from as low as $0.35 to as high as $6.85 (ouch to those shareholders who paid this much in March 2012).
At December 31 2019 the Company had racked up $28 million in operating losses and carries an $11 million currency translation loss reserve due to the devaluation of the Brazilian currency, for a net book value of only $24 million, or about 53 cents Cdn per share.
With the current market price offering a current entry point at essentially the current Net Book Value of the Company, this shareholder is encouraged to add Verde to my portfolio at this ACB. I believe the Company is much closer to success than at any time over the last 13 years, and the downside risk on putting money into the company below 60 cents a share is very limited, while the updside in the next 6 to 12 months looks very attractive.
As always, time will tell and I will be looking forward to seeing the Q2 2020 results.
Cheers,
S
PS: can someone help me to understand the Brazil corporate tax regime? Having never made an operating profit and with millions of loss carry forwards to provide significant tax shields, how is it the Company is reporting income taxes paid?