Sefton Resources Inc Ratings

BUY by huntingnews on 22 Aug 2013 06:29

Price at rating: 0.40, now:

EK goes long and TW/BMD bubble is burst

Score: 62.50

BUY by huntingnews on 21 Aug 2013 15:32

Price at rating: 0.40, now:

news comin

Score: 68.75

PANIC by huntingnews on 16 Aug 2013 16:21

Price at rating: 0.40, now:

16th August 2013r Today (2013-08-16 12:05:50)Print this Articler Evil discusses Topps Tiles, RSM Tenon, silver UDS/Yen and Sefton Resources...r r Insolvency is a knotty problem at the margins in practice. Just of late I have had bits and bobs concerning Sefton Resources (SER) coming across my desk. I therefore asked one of the country's leading corporate legal minds what he thinks constitutes insolvency. I now set out the exchanges between myself and him.r r I had written that "Let us assume that I have encountered a company which were it unquoted would be irremediably heading for death. Its current liabilities comfortably exceed current assets and the position is deteriorating with virtually no prospect for improvement.r r However, this one is quoted on AIM. Its directors claim solvency simply because they reckon they can raise more cash from investors. This the directors might be able to do if the directors get lucky with a further supply of suckers. But there is far from certainty that the supply will prove to be to hand.r r Can the directors claim that this company is not trading whilst insolvent?"r r His reply is: "Not unless they have reasonable grounds for believing that they can undertake some sort of rescue financing, or can sell assets, or some kind of miraculous trading outturn is around the corner. These days courts look at cash flow solvency much more than the balance sheet. Put another way, how is it keeping the lights on and paying salaries?"r r If I were a director of Sefton I would make very sure that I had professional advice in support of the view that Sefton is solvent. Absent that, I would resign forthwith.