By the look of it, the final report for this round of quarters becomes my very own bamboo and property company. As of yet they have no property but as soon as they have sold off some more bamboo plantations and have managed to raise some more money then they will jump into the speculative property market in China. I am so thrilled about this! Nothing much happened with the share price due to the release of the report.
Say what one wants (from my point of view a long series of bad words) about the company and their future plans but I must admit that I find their quarter report aesthetic. To read the real deal then please lick here and if you want to look at my previous summary then please visit Asian Bamboo report Q2 2014,
Well, well, well, another report from Asian Bamboo using the increased value of their Bamboo as an attempt to show positive figures. For me it is easy. If you do not manage to sell it then there is also no value increase and at the moment they are selling more or less nothing so I refuse to look at an income statement showing increased company value due to uncut Bamboo.
Therefore I think we need to recalculate the income statement a little so operating income: 18.46 million €.
operating expenses: 18.139 + 0.083 + 3.717 + 0.889 + 0.077 + 0.721 = 23.626 million €
This then gives us 18.46 - 23.626 = -5.166 million € for the running nine months. Their earnings per share is a fantasy figure that I refuse to accept. They have decreased the amount of employees to 661 something (they would need to fire an additional 600 to have a more acceptable revenue per employee ratio) and the company seem to bleed a little less but still there is no light in the tunnel no matter what they try to sell to us with their made up numbers.
Conclusion: Stupid and stubborn as I am I will remain shareholder in Asian Bamboo. They now wrote that they will try to raise the capital sometime during the first quarter of 2015 for their property speculation idiocy so I still do not have to sit down and think about what to do with that offer.
To see the wonderful analysis please click on analysis of Asian Bamboo 2014.
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