CCFC Statement on offal (14 Viewers)

[oldskyblue58]

so when the accounts for 2011 come out all should be a bit clearer? does it make a difference if the club is taken over to the disclouser of the accounts ?

hopefully clearer certainly more up to date. Disclosures in accounts are not affected by changes in who owns the shares (ie the company)

 

---

[Sub]

ok cheers for that oldskyblue much appreciated !!!

 

[Bennets Afro]

If we have remortgaed and borrowed money from banks, can Hoffman use his presence within the banking world to get the banks to call in the loan, therefore putting pressure on SISU????

 

[oldskyblue58]

If we have remortgaed and borrowed money from banks, can Hoffman use his presence within the banking world to get the banks to call in the loan, therefore putting pressure on SISU????

simple answer - No

any debt called in could achieve administration - not sure we want that to happen

 

[Bennets Afro]

Surely it would put pressure on SISU to sell though if it happened??? I dont think admin is an issue as the main creditors is SISU itself and they wont right off the debt or except 10p in the pound

 

[Godiva]

If we have remortgaed and borrowed money from banks, can Hoffman use his presence within the banking world to get the banks to call in the loan, therefore putting pressure on SISU????

Loans can only be recalled if they are defaulted. As long as the payment scheme is followed Hoffman can not use his influence in the way you imply. England is not Zimbabwe.

 

[Godiva]

We have established the difference between cashflow and losses yes but the point being made is that KD and others regularly do not. The continue to talk of £500k losses and that SISU fund this - it implies to the layman that SISU put £500k into the club each month and clearly even by their own figures they do not.

Point is KD and co are being economic with what they tell us about the finances - i accept they do not actually have to say anything

I am old and my memory is too good anymore. Yours is probably much better.
Can you recall hearing Ken - with his own voice - saying that the business is still making a £6 million/yr loss?
I know he has been quoted in the paper, but we all know how reliable that is. It has also been stated as a fact many times on this board by many different posters, but that is still not too reliable.

He may have said it - I don't know.

 

[oldskyblue58]

he has repeated on CWR as £500k losses yes. Bottom line Godiva is that he has or should have the monthly information at his finger tips and if the losses have reduced why not give the fans that good news. If losses are not £500k why not correct the news reports, It has been quoted at him and he has not corrected it. What he does also say is that SISU are funding the losses - a) SISU arent the SISU investment funds are and b) they are not funding losses because as we agree it is the cashflow shortfall being funded

If as we suspect current losses are down then that is positive news - why doesnt he say it ? We could all use some good news surely