RE: GOOD NEWS/FINANCIAL STATEMNTS.For those shareholders who are unwilling or unable to pour over Financial Statements I have spent the weekend reading them. Some interesting facts have surfaced in my examinations. These Financial Statements were released to Sedar.com in Canada on April 5, 2000.
When you see the Brief Summaries in the Public Forums you will notice that most places show a Net .06c per share loss to the value of the Shareholders Equity.
Now comes the Good News (bad news) aspect of my examinations.
When Repap Ent. formulates their Financial Statements they must report their findings based on all aspects of their Continuing Operations; and that includes their involvement in the Stock Market.
The reported losses on Earnings Per Share are directly attributable to the Shareholders and the Shareholders (ex-shareholders) alone.
If you were to strip away the Stock Market Contribution from the Continuing Operations aspect of Repaps' Operating Perfomance you would see that Repap as a Paper and Wood Products Supplier has actually created a ".04c per share Gain in the 1999 Fiscal year. Repaps Net Operating Deficiency is $46,000,000. Their Net Shareholder Equity Reduction is $46,000,000. Meaning; as the shareholders ran away from this Stock (selling shares at less and less to get out) they took with them $46,000,000 worth of Necessary Accounting revenues.
SUMMATION: As strictly a Paper and Wood Supply Company (without Stock Market involvment) they are making money.
With the New Pricing Structures onstream let's see how Q1 2000 reflects on Earnings.
N.B. Do your own Due Diligence