There still has to be a certain number of outstanding shares as of 31st Dec 2017.

Are the Cytonn shares traded on an OTC?
If yes, who operates the OTC?
If Cytonn also sells more shares on a walk-in basis then how does a current owner sell his shares?
Wouldn't Cytonn wants new investors to buy "newly issued shares" to get cash to invest vs facilitating the sale of shares held by existing investors which doesn't give them "new" cash like what happens on the NSE?

The shares are bought OTC. Once your place your order, cytonn tries to match the buy order with sell order

Would that info be for public consumption or strictly for share holders?

Sorry I have no updates on Cytonn.

Full year 2017 results finally served https://www.exchange.co....-fold-to-ksh398-million/

Controversial company Cytonn Investments announced their full year financial results for the period ended 31st December, 2017. Sales from real estate projects grew by 92% to KES 612M. This was accompanied by a faster growth in cost of sales which rose by 104% to KES 690.3M.

The company continues to rely on financing activities to drive its operations. This led to finance costs growing more than 290% to KES 285 million.

Negative Cash Flows

Moreover, company generated negative cash flows from operating activities and investing affirming their reliance on cash flow from financing activities. Debt to Equity ratio stood at 45%. Staff and operating costs grew by 69% to KES 1098.9 as the company continued to grow its operations.

Sh 569 Million Operating Loss

Removing fair value gains, the company made an operating loss of KES 569 million, worsening from an operating loss of KES 425 million a year earlier. The company incurred one of impairment loss of KES 178.2million with Kshs 95.6 mn being for Imperial Bank Limited and Kshs 82.6 mn being for Nakumatt Holdings Limited. It remains a concern why the company is attracted to high risk investment asset classes such as commercial papers from distressed companies and above market rate fixed deposit rates.

According to the company’s annual report, they acquired 12.5% stake in Superior homes against the 25% they had previously stated in their initial press release. Superior Homes is the developer of Green Park Estate in Athi River which was recently flooded after Stoni Athi River bursts its banks.

Net Asset value per share slid by 13% to KES 54 from KES 61.9 a year earlier after the number of ordinary shares increased from 84M to 98M. The 3 partners who founded the company own 79% of the issued shared.

Link:https://kenyanwallstreet.com/cytonn-investments-aggressive-accounting-in-fy-numbers/

Interesting read....Cytonn came to mind

"By the fall of 2000, Enron was starting to crumble under its own weight. CEO Jeffrey Skilling had a way of hiding the financial losses of the trading business and other operations of the company; it was called mark-to-market accounting. This is a technique used where you measure the value of a security based on its current market value, instead of its book value. This can work well when trading securities, but it can be disastrous for actual businesses.

In Enron's case, the company would build an asset, such as a power plant, and immediately claim the projected profit on its books, even though it hadn't made one dime from it."

Robert Alai again https://www.kahawatungu.com/2018...estments-sinking-losses/

Cytonn's response https://cytonn.com/uploads/downl...icle-04072018-vfinal.pdf

Hiyo right of reply ni kali kweli kweli!!!! Keep it up Cytonn. Smoke out the fakes!!!!!

Kali how? Covering up the ponzi with fake profits isn't kali, it for dimwits to feel their money is safe there.