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Subject: Subject: New York and New Jersey along with Perth are in the 2002 annual report Author: Lazio is significant--substantial receivablestill waiting to collect. [ Next Thread | Previous Thread | Next Message | Previous Message ] Date Posted: 26/07/03 8:12:23pm In reply to: CALIF., JUNE 7, 1999 -- CTS is the contractor for the original automated fare collection system installation 's message, "Bombadier will be a likely candidate with ERG to tender for New York (NT) -- later this year--most probably post June 30th 03" on 26/07/03 8:07:20pm Subject: New York and New Jersey along with Perth are in the 2002 annual report Author: Guru post. [ Next Thread | Previous Thread | Next Message | Previous Message ] -------------------------------------------------------------------------------- Date Posted: 18:12:16 04/28/03 Mon -------------------------------------------------------------------------------- New York and New Jersey along with Perth are in the 2002 annual report as cities that are bing bid for, as previously mentioned ERG with Bombadier will not be bidding for Montreal--for brevity--not enough profit in it. Bonding costs too high.ERG will no longer be responsible for #23 million# that Proton owes (allowance was made for that in the sale.)It is a matter of reading small print in company announcements,the above is not reported well in various newspapers---outside of the money received was also the fact that ERG is no longer responsible for 23 million that Proton owed.Combining the previous post on the Proton settlement with that gives a figure of--pay out B&B loan early,plus the other alluded to.(A$9.8 million) to European banks total 26.1m discharged-28/4---add the 23 million no longer responsible for total ##49.1 million dollars.## (9.4 one off restructure/PWI/Balance sheet--first half 30/6/02 to the 31/12/02 as reported 6/3--some of the B&B loan was used for this--so it is not all a net improvement)Nevertheless it is a net improvement. ------------------------------------------------------------ The 9.4m will not be charged again in the second half as the restructuring is over now--so 9.4million will not impact the second half--which is the 31/12/02 to the 30/6/03 reporting September. ------------------------------------------------------------Additionally Proton was partly purchased with cash and partly with shares--what is happening now is the past values in the accounts are worth more. Hence the rise in net assets and NTA, previous to it being sold it was valued at zero--now it has been tangibilised a provision made out of the cash received some of it used to retire debt and as yesterdays announcement stated the balance put into the smartcard business. ------------------------------------------------------------ From here on in as the entity moves forward through time, it is getting a boost to it's earnings through the alliances and agreements it has established with ST Microelectronics--Rome for instance has a lot of Proton in it--so Lazio is significant--substantial receivable still waiting to collect. ------------------------------------------------------------ 15 million in armoritsation has been saved which is one of the things hampering profitability--so from this month on--ERG is now saving 1.25 million per month in this regard, it will no longer be charged to the profit and loss statement. ------------------------------------------------------------ http://stocknessmonster.com/news-item?S=ERG&E=ASX&N=236510 ------------------------------------------------------------ Regards,--Steve -------------------------------------------------------------------------------- [ Next Thread | Previous Thread | Next Message | Previous Message ] [ Next Thread | Previous Thread | Next Message | Previous Message ]