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Rodinia Oil Corp. V.ROZ



TSXV:ROZ - Post by User

Post by moneymaker75on Apr 12, 2014 10:44am
256 Views
Post# 22443391

This is all you need to know

This is all you need to know
From last MD&A

During the three and nine months ended September 30, 2013, the Corporation’s remaining exploration and evaluation assets were written down to the estimated recoverable amount based on the fair value less cost to sell and as a result impairment of $2,321,822 was recorded. The fair value less cost to sell was based on the observable market price for the Corporation’s exploration and evaluation assets as derived by the Corporation’s current market capitalization and management’s assessment of the most likely net realizable value for those assets. 

The writedown leaves a value of about $900K for the land leases from the September balance sheet. The company has been bled dry of everything else. So best case scenario you are looking at market value recovery which is less than one cent per share. Less all the expenses it would take to go through the process, it really isn't worth the effort. Best to emotionally let go and move on. 
 
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