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Silvercorp Metals Inc. Message Board

  • fflryan2005 fflryan2005 Feb 14, 2013 10:59 PM Flag

    Non-cash accounting charge explanation please

    Can someone please offer more detail on the following "which include a $9.6 million non-cash accounting charge that will write down on the investment in an associated company to its current share price." I did not see it explained in further detail in the call transcript. Preferably one response from Ryugo and one from Fasebayo. Thank you.

    Sentiment: Hold

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    • sorry fflryan there are lots of fakes and new accounts suddenly

      and you know the boards are littered with fake people.
      as such you can never be too sure.

      but I am sure you know what happened now share prices were reflected on an accounting basis that lowered the diluted eps but the adjusted eps was hit at 9 cents they just chose to take that off the books now instead of later as an accounting rule without selling the properties.
      Seems only banks corps etc can do so while we cannot sadly.

      benefits of the accounting is less taxes I assume and as such it is smart thing to do.

      too bad the tape will not like it visually as it overshadowed the 9 penny from agi that exceeded expectations.
      so the real amount was 26 cents not 18 cents as yahoo reports. but never the less we cannot change their accounting rules.

      they wanted to take a loss using legal accounting tricks. normally you take a loss when selling the item after all. yes svm seems to be slowly buying the company.

      again I wonder why Jon Carnes does not go to Canada in his own back yard to investigate them if he wants to. he is protected by the laws right? so why not low risk investigation already. but seems he only relies on his china division to dig up anything... like #$%$. stupid imo.

    • here is the info report to your boss now

      For the three and nine months ended December 31, 2012, impairment loss of $9,640 and $9,640,
      respectively (for three and nine months ended December 31, 2011, $nil and $nil, respectively) wereSILVERCORP METALS INC.
      Notes to Condensed Consolidated Interim Financial Statements
      (Unaudited) (Expressed in thousands of U.S. dollars, unless otherwise stated)
      recognized due to a prolonged decline in NUX’s quoted market price.  The Company’s investment in NUX
      was written down to the closing share price of NUX as at December 31, 2012.

    • so they put it into investments reflecting the share price as income.

      the real net income was .085-.09 anyway

    • actually never mind

      my mistake it is actually investment into

      I got it wrong on that but yes end of year they will deduct some taxes.

      namely increased their holdings from 14.8 to 16%.

      after all is SVM child after all and their permit for canadian mines in tagish lake is running now.

    • ps if you are jon carnes support then go tell him to stuff it if he is trying to find another thing to write about.

      shall we stuff more arguments in his face?

    • a new account?

      who are you from?.....
      sorry making new accounts or using old created but not used for posting is highly frowned upon.

      but shall I enlighten you?

      those were tax rebates from payment of taxes. if you over pay vat tax and such.
      if you did you HW you would have already known they said they would be from now on discounting the silver sold with the taxes as the government demands the taxes be paid up front.

      hence if svm over pays like income tax they get a tax rebate.

      didn't you all read the data? I do hope Jon takes note before even commenting.