Pharmazen

[Minimoke]

As we sit back waiting for this years Annual Report (yes - I am still expecting to see one!), I can report at least a little good news. It appears the land and shed at Rolleston 2 has sold. And they have enough money to keep the outside lights on at Rolleston 1

[winner (n)]

And no first report from Receives filed yet

[Minimoke]

For what its worth, the land had a rating valuation of $4.2m with $0.00 for capital improvements. Surely the shed is worth something. Less discount for distressed seller thanks to BNZ

[Sideshow Bob]

Yes, will be interesting to see the Annual Report in all its glory gory!! 

[Minimoke]

Another new record for PAZ - latest they have ever put out the Annual report. And there is still no sign of it. Clearly have trouble with the auditors again. Along with a pesky liquidation. Didn't they get fined for late filing last year? What little money they have just seems to get chucked away.

[lorraina]

https://app.companiesoffice.govt.nz/companies/app/service/services/documents/C28E4D039735C6BC9844B1222C8D6AF7

Assets $55,253,304

Creditors.$27,669,412.

[Minimoke]

https://app.companiesoffice.govt.nz/companies/app/service/services/documents/C28E4D039735C6BC9844B1222C8D6AF7

Assets $55,253,304

Creditors.$27,669,412.

I would have thought a deal to trade out of the problem should be on the cards. Not the sale of the whole business. They must have really annoyed their bank.

$3.6m in receivables. And what appears to be only $460,00 so far in confirmed creditors.