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Ok i give up
How does buying a gem for £11m increase the value of a company's assets?
Surely the current assets went down when the cash was taken out of the bank, stuffed in a bag and put behind the bike sheds awaiting delivery?
Or did the cash just come out from under a mattress?
Ok i give up
How does buying a gem for £11m increase the value of a company's assets?
Surely the current assets went down when the cash was taken out of the bank, stuffed in a bag and put behind the bike sheds awaiting delivery?
Or did the cash just come out from under a mattress?
They issued shares in exchange for the stone, so assets went up and share capital/share premium went up.
I assume also that in the absence of a proper valuation that the audited accounts were never signed off, or were they qualified?