HMY-Harmoney

[Plata]

http://research.iress.com.au/IDS/old/20220831/02561283.pdf?uid=A7E6DE114F3E04474D4FA5452346F325204800003EE9937EDAE9E540093D250091850000&ppv=
Page 35 is quite interesting.  Negative eps of 20 cps.
If they keep going that way they will need a major capital raise or will go broke.

ITs clear I don't believe in the business model...I said exactly that in February 2021 when the share prcie was $A2.50  I do not believe the interest rates they charge are sufficient for unsecured lending. In a cost of living crisis / recession no matter how much you provision for bad and doubtful debts it's never enough.  I see that impairment expense took 35% of gross income.  Hmmm

Yes that is quite interesting. Arrears at 0.45% but incurred losses at 3.6%.... Does that imply that most people that are behind on payments end up defaulting? Why do they push the arrears number so hard other than to make things look good?

[lorraina]

October 18th update.
https://stocknessmonster.com/announcements/hmy.asx-2A1406634/
Going gang busters.
Love the over 10% net interest margin and low impairements.

[Clearasmud]

Hi Lorraina,
Do you understand the difference between statutory and proforma loan book.
Hugh difference in 2021.Why?

[Forrestdun]

Seems like they may have New loans totalling $55mil in October. $230mil undrawn compared to $220mil + $65mil in Q1 reporting.

[winner (n)]

Might find some interesting stuff in this from kpmg

Good year had my most but dark clouds on horizon ...all gets a bit boring these dark clouds comments eh


KPMG's Financial Institutions Performance Survey.

https://assets.kpmg/content/dam/kpmg/nz/pdf/2022/12/2022-non-banks-fips.pdf

[Hectorplains]

Up 25% today!  Third biggest increase on the ASX!  On no news but low volume, $6.5k. Still a wins, a win.  And any win this one is welcome.   

[Forrestdun]

Think the last quarter update was on 1 Feb last year so not long to go.

[Clearasmud]

Up 25% today!  Third biggest increase on the ASX!  On no news but low volume, $6.5k. Still a wins, a win.  And any win this one is welcome.   

I close to doubled my position @48c on account of the disconnect between the share price and management discussion.
Still need $1.05 to break even.

[winner (n)]

I close to doubled my position @48c on account of the disconnect between the share price and management discussion.
Still need $1.05 to break even.

Hopefully one day shares might be $2.10 and then you be happy as

Wonder what value Heartland will put on their shares at half year?

They had them on their books at 71 centscat June .......another 'fair value adjustment' coming up

But many would say it's not fair to make a fair value adjustment when current price is not fair in first place

[Clearasmud]

Hopefully one day shares might be $2.10 and then you be happy as

Wonder what value Heartland will put on their shares at half year?

They had them on their books at 71 centscat June .......another 'fair value adjustment' coming up

But many would say it's not fair to make a fair value adjustment when current price is not fair in first place

Yes things need to change, again.

[Clearasmud]

A speculative investment that I hope in time will pay increasing dividends and reach a sp double Ipo price.

[Forrestdun]

A speculative investment that I hope in time will pay increasing dividends and reach a sp double Ipo price.

I would be happy with a SP of $1.50

[winner (n)]

I would be happy with a SP of $1.50

jeez, was over 3 bucks once

And in mid 2021 went from 120 to over 200 in a few weeks ... that was exciting period

[Hectorplains]

jeez, was over 3 bucks once

And in mid 2021 went from 120 to over 200 in a few weeks ... that was exciting period

.

Up another 6% to .60 this morning and a bit more volume too.   Still a long way to go for me to see black on this one. 

[Forrestdun]

jeez, was over 3 bucks once

And in mid 2021 went from 120 to over 200 in a few weeks ... that was exciting period

Just keeping my hopes low so there is lots of room to be pleasantly surprised