At least they recognize that things are thick, dont ask for bailouts or PIIP.

IMO since they have failed to raise debt publicly or privately, they should come back to us the shareholders for additional Equity capital.

This is standard reporting practice for Post Balance Sheet events.

HAFR has a duty to adjust (or disclose in) its Financial Statements positive or negative events that happened after 31 December 2018 and which may affect the viability of the company going forward.

Simply put, if something happened in March 2019 to render the company bankrupt/ near bankrupt, Directors must not wait till next year to tell us so. It should be disclosed in the 2018 Accounts.

They shouldn't do that nosense of rushing the Accounts then restating the figures next year.

See below for your further reading.

https://www.ifrs.org/iss...er-the-reporting-period/

The last results released for HY ended 30th June 2018 was not that bad.Home Africa needs 1 billion to stand on its feet.

Company is still majority held by founding shareholders who happen to be very conservative middle class fellows.

A new set of entrepreneurial shareholders and Directors is needed to capitalize the company and lead it on a path of ambitious growth. If I had the cash, I would launch a takeover bid.

This is standard reporting practice for Post Balance Sheet events.

HAFR has a duty to adjust (or disclose in) its Financial Statements positive or negative events that happened after 31 December 2018 and which may affect the viability of the company going forward.

Simply put, if something happened in March 2019 to render the company bankrupt/ near bankrupt, Directors must not wait till next year to tell us so. It should be disclosed in the 2018 Accounts.

They shouldn't do that nosense of rushing the Accounts then restating the figures next year.

See below for your further reading.

https://www.ifrs.org/iss...r-the-reporting-period/[/quote]

Home Afrika is seeking financing.

This was the same situation as at 31 December 2018.

Me thinks Home Afrika was insolvent as at 31 December 2018.

Me also thinks management and the board failed to convince their.financiers to give them letters of support or similar guarantees that they would avail financing as required in the 12 months period post year end. Home Afrika could therefore not convince their auditors of the appropriate ness of preparing their financials on a going concern basis to avoid preparing their financials on a break up basis or have a qualified opinion if that failed.

Me thinks Home Afrika consequently opts to delay publication on grounds of arrangements in progress and gets approval from the regulators.

Me thinks Nothing they are working on would likely constitute an Adjusting event which would change the company's position as at 31 December 2018 in so far as the standard is concerned. The only change would most likely be with the auditors opinion. Cautionary announcements would suffice.

Surely we've been here before with ArmCement as wazuans. We were told CDC was coming in to support hence the delay in publication. Support never materialized to this day. Look where arm is now.

Same script different cast (only the regulators are constant). We should learn to cut our losses and run as soon as we spot these shenanigans.

I do not believe Home Afrika is a going concern

AMEN
KQ losses accumulate to Sh89.3bn in six years
https://www.the-star.co....to-sh893bn-in-six-years/

uchokozi

Its shameful to put HAFR and KQ in the same sentence. Would caliber of Martin Oduor, Caroline Ogwapitt, Michael Joseph join the board of HAFR? Even for one day? Let's get serious about what we post

How many shares do those executives hold in KQ? Let me tell you, they have Zero, Nought, Nothing. They are just there for prestige and allowances.
The only KQ Directors who hold KQ shares are:

Nicholas Bodo - 1,050;
Carol Musyoka - 6,675; and
Michael Gichangi - 2,025.

On the other hand the following Directors of HAFR have shares in the company:
Ketan Shah - 4m;
Mbugua Gecaga - 3m; and
Dan Awendo - 256k.

I feel better represented by directors who have skin in the game (to quote @VVS) than directors who are just there for prestige and allowances.

Skin in the game counts for nothing if you can imagine what happened to Panaurana of ARM.. The NSE is a dicy place meant only for those who can afford to lose it all