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| Subject: The acquisition costs of the business purchased from Motorola have been capitalised An amount of $35,127,000identified those costs recovered future project revenue | |
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Author: streams. -- The amortisation of these costs will be expensed over the period of the operating contracts.Refer note 47, |
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Date Posted: Saturday, March 15, 03:06:45am In reply to: http://www.patersonord.com.au/ ERG 03 Dec 2002 's message, "  " on Wednesday, February 19, 07:19:03amextremely roughly based on the Sydney contract alone and excluding everything else that ERG do if you give a forward multiple of 3 years -- and give a p/e of 10--you get a 27c ERG, 03:59:28 02/26/03 Wed conversion (convertible notes to shares) currently 936,879,165 (NT) -- there will then be 2,929,139,061 shares., 04:21:13 02/26/03 Wed the notes are converted to a ratio of 90 to 1--ie 13.50 divisible by 90 equals 15c (NT) -- conversion will happen soon after approval by both noteholders and shareholders. (re calendar), 05:01:45 02/26/03 Wed Following conversion there will be a 1 for 8 renounceable (NT) -- redeemable rights issue of convertible preference shares, 04:23:40 02/26/03 Wed with a ten per cent coupon payable in ordinary shares or cash at $0.15 pershare. (NT) -- (ie one resistence point in the share trend is 16.5), 04:28:06 02/26/03 Wed The rights issue, which seeks to raise up to $50 million will be partially underwritten by the major noteholder, and Babcock & Brown (NT) -- (it is a thery of Losts that noteholders may be asked to underwrite the remainder), 04:32:24 02/26/03 Wed Each additional security subscribed to will also include a free five-year option to subscribe (NT) -- for a new ordinary share at $0.20., 04:34:47 02/26/03 Wed A subsequent 10 for 1 ordinary share by10 = 292,913,906 (NT) -- clean slate substantially debt free go for contracts that perhaps on economic grounds it has had to previously say no to., 04:43:00 02/26/03 Wed under the formula 18.87 million in current liability and 249.7 million in non current liablity is eliminated (NT) -- net assets rise to 462.1 million which equates to an estimated 15.78c (consolidated 1.58 rounded), 04:47:52 02/26/03 Wed prior to those estimates relating to the notes issue is ERG's financials covering period 30/6/02 to 31/12/02 expected to report March 6th 2003 (NT) -- opinion is NTA will rise based on events that have occurred since last reporting., 04:55:28 02/26/03 Wed Entity stated more than 30 mill annualised cost savings were achieved 30/6/01 to 30/6/02 12/9/02 audit 1/10(6 mill expensed for extracting the synergies from PWI acquired March 15th 02)the Group will receive 6 months of revenue from Proton when reporting on March 6th -- whereas last time it was only 3 months,the 6 million expensed for Proton cost savings willnot impact it this time., 05:15:10 02/26/03 Wed The financial period is 30/6/2002 to 31/12/2002 reporting date given by ERG March 6th. -- a bit of a summary of things most relates to March 6th--some beyond that..Delloite Touche & Tomatshu-The head auditor, 06:17:11 02/26/03 Wed There is possibly more to it than what has been identified though--re tangibility issues alsoany provisons that won't be needed and the equity side of accounting which hasn't really been gone into. (PCL at 47.1% be nice to get it over 50% Sean Duffy stated that the reason (NT) -- it went from 30% to 47.1% last time was because ERG bought out Sema's interest.), 06:22:07 02/26/03 Wed going forward in annualised cost savings 30 million annualised was confirmed 12/9 27 million of it was actually confirmed on the 30/5/2002 so you would need to halve that figure for 6 months (NT) -- however going forward for this financial year adding the elimination of the current liability of 18.87 mill, 08:10:53 02/26/03 Wed to the 30 million in annualised savings while staggered in getting the full 12 months effect (NT) -- Note the #48.87 million added back to bottom line, it will make the biggest impact in the 2004 year, still a very real impact in the 03 year though, 08:14:53 02/26/03 Wed Receive 6 months worth of revenues/30/6/2002 to 31/12/2002 Singapore as opposed to two months last report (NT) -- 11/3/2002carrying costs Singapore fully operational, 05:51:05 02/26/03 Wed Worldwide rollout of former MOT/ERG contracts stengthens balance sheet-ie NTA boost eps -- Full system implementation is due Sweden Jan 2003.MOT46.360m 26/2/2001, 10:45:17 02/26/03 Wed The acquisition costs of the business purchased from Motorola have been capitalised An amount of $35,127,000 identified those costs recovered future project revenue streams. -- The amortisation of these costs will be expensed over the period of the operating contracts.Refer note 47, 11:01:23 02/26/03 Wed To put it into a nutshell all the former ventures ERG had with Motorola as an equal partner have been bought by ERG the amortisation of the costs relating to that are going to be recovered against revenue streams you can't begin to recover the costs till you have revenue coming in, this is beginning to happen (NT) -- in Sweden for instance Sydney Nth America in 2003. This boosts eps and improves NTA over time., 11:09:29 02/26/03 Wed Proton's loss of 2.415.517 was acquired by the Group 15/3/2002--as reported 12/9--for 30/6/01 to 30/6/02 apart from growing revenues assuming PWI makes a profit and not a loss when ERG reports o 6th for half year 30/6/02 to 31/12/02 then even if PWI were to break even (as long as it does not make a loss -- then 2.415.517 should not negatively impact ERG's financials., 12:36:28 02/27/03 Thu March 16/02 Berlin Mr Batchelor/smartcard/new contract/Melbourne -- March 16/02 Berlin Mr Batchelor/smartcard/new contract/Melbourne , 02:11:40 02/28/03 Fri Changing legal relationships--j/v structures altering valuations changing$3.3million of the proceeds flowing directly through to ERG. -- Melbourne Settlement. third stage announced 28/2/03http://stocknessmonster.com/news-item?S=ERG&E=ASX&N=233537, 16:13:45 02/28/03 Fri HI ERG---millions spent R&D past --trimmed positive impact this half -- It is moving into the commercialisation of the technology it has developed now., 16:36:03 02/28/03 Fri Paterson Ord is working with ERG on the restructure -- which includes the capital raising. Feb 27 2003, 17:15:02 02/28/03 Fri tangibility issues bringing forth past share values and linking them to the value of Sydney--re artcile Pierpont -- March 14--(ie multi application--interopereability--coming off Sydney., 21:41:30 03/13/03 Thu From financial period ASX announcements ERG 30/6/02 to 31/12/02 -- reporting 6/3/03Note 17.01b: National Roads and Motorists' Assoc. ceased trading on 30 June 2002., 02:59:45 03/15/03 Sat [ Next Thread | Previous Thread | Next Message | Previous Message ] |