Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Focus Graphite Inc V.FMS.WT


Primary Symbol: V.FMS Alternate Symbol(s):  FCSMF

Focus Graphite Inc. is a Canada-based advanced exploration company. The Company is engaged in the exploration and development of deposits of flake graphite located in Quebec, Canada. Its projects are Lac Knife and Lac Tetepisca projects. Lac Knife project is a high-grade crystalline flake graphite deposit located in northeastern Quebec, approximately 27 kilometers (km) south of Fermont. The property consists of approximately 57 mining claims covering 29,863 hectares. Lac Tetepisca project comprises two properties, Lac Tetepisca and Lac Tetepisca Nord. These properties are located in the Southwest Manicouagan reservoir area of the Cote-Nord region of Quebec, approximately 234 km north-northwest of the city of Baie-Comeau, an industrial city located where the Manicouagan River intersects the north shore of St. Lawrence River in the Cote-Nord, Quebec. Its properties form a block of approximately 115 claims, covering 6,000 hectares within the Manicouagan-Ouest Graphitic Corridor.


TSXV:FMS - Post by User

Bullboard Posts
Comment by StocksLynxon Sep 27, 2016 2:56pm
122 Views
Post# 25282759

RE:Latest financials dated Aug 29th on Sedar

RE:Latest financials dated Aug 29th on Sedar

Yes, the 18% of Grafoid is basically valued at cost minus deductions from share in net loss. It is not calculated at the latest share issuance price, which was US$5.00.
Instead the value per Grafoid share is booked as C$0.104, which is of cause a huge difference to the latest price paid for Grafoid shares, which was US$5.00 in 2015.

I don't know who writes those accounting standards and what they thought as they wrote it, but this is what it is. You can read more here:

"A method of accounting whereby the investment is initially recognised at cost
and adjusted thereafter for the post-acquisition change in the investor's share
of the investee's net assets. The investor's profit or loss includes its share
of the investee's profit or loss and the investor's other comprehensive income
includes its share of the investee's other comprehensive income"

https://www.iasplus.com/en/standards/ias/ias28-2011

 

Bullboard Posts