But i think they could have had really really GREAT earnings! but the latest earnings report from the new Resus Energy is very confusing.
the confusion of the report is caused by numerous factors including the change of control form Hemas to new owners. And the selling of their single largest asset.
Yet the complexity gets worse as they owned less than 50% of that asset(a oil fired power plant and that plant had it's own debt,that was also partly on Resus's balance sheet. Thus these debts were paid off(removed from their books) when the plant was sold. Also these major changes also muddied the earnings as they took a book loss on the sale. But underneath all that there could be a very very profitable hydro power company with little debt and with a very valuable holding in Pap as a extra bonus. i bought a medium amount of shares a few years ago at an average cost of about 25 rps. Agh.
but luckily at the same time i bought slightly more regular Hemas at a cost of 26 rps. So recently ive sold most of my regular Hemas and im thinking of buying more Resus. What do people think---please could somebody with some accounting knowledge read the report and give more insights.