Verde Agritech Ltd T.NPK

Trading after Q2 results corrected

[15Stanmore]

Hello fellow Verde shareholders,

With the release this morning of the amended Q2 2021 quarterly statements and the confirmation that the previously reported Q2 comprehensive loss of $1,681,000 was in fact a comprehensive gain of $1,839,000 (a $3.5 million improvement in the quarter's earnings), the trading in Verde shares reflected this good news and closed up at $1.33 per share, recovering from the $1.11 low hit earlier in the week following the reported quarterly losses.

There were 132 separate buy transactions totalling 84,622 shares, shared among 12 brokers with 4 brokers having crossed 15,000 shares or more. The weighted average purchase price came in at $1.293.

My prediction for next week, once the revised Q2 performance numbers are more generally known, the share price will continue to strengthen as there are again fewer current shareholders prepared to sell with this good news in hand, and Q3 results slated to be even better. Those investors and traders that had been sitting on the sidelines now have more concrete positive data upon which to confirm their decision to jump in.

Have a great weekend all.

Cheers.

S

[Lucky09]

Thanks you Stan... Mostly a lurker on these forums, but I just wanted to say I appreciate all the due diligence you do for the rest of us on this forum.   

[Celt1967]

What a great way to end the week. This board is such a breath of fresh air and I just hope November continues this positive sales trend while pushing up the share price. Good luck to all. C.

[Sage4Puck]

Indeed, NPK has a smart and dedicated following! Stan, your review fo the numbers was shrpa. Please keep it up!

[Sugoioi]

Thanks for your diligence Stan. I'm assuming, but would like to confirm with you, this would be why their cash on hand increased? Just cursory I did not understand how cash had increased with the original loss reported.

[15Stanmore]

Hello Sugoioi, Cash at March 31, 2021 was 2,021,000 and this fell to 1,908,000 by June 30, 2021.  What has been interesting is the incease in the Accounts Receivable balance as sales have increased: March 31, 2020                $975,000  June 30, 2020                $1,676,000 December 31, 2020