OTCQX:NTTHF - Post by User
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LithiumNPVon Nov 17, 2020 4:38am
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Post# 31912573
RE:RE:-$29.144 million Other Comprehensive Loss
RE:RE:-$29.144 million Other Comprehensive Loss BigBangOrigins wrote: To put it simply, the other comprehensive loss arises due to a difference in the value of a foreign currency transaction when it occurs vs when the financials are prepared. Since the Argentinian peso has declined significantly over the last several years, Neo Lithium has had a lot of its Argentinian peso based transaction values decline when compared to the date financials are prepared. These are non-operational losses, which is why they are reported at the very bottom of the income statement. These losses have no bearing on the future of the company and are more accounting mechanics driven. I suggest reading up on IAS 21 for more info. Hope this helps! Happy investing.
When you lose $30 milion because you put your money in the wrong currency, you get stung. I think what's happening with NLC is anyone can push a stock up $1, but they can't keep it up. Prepare for a collapse.