company
Univo
-3.97%
Base:15.1
opening:15.7
High:15.7
low:13.8
change:65,938
Page Quote News Graphs Company Profile Recommendations
More articles on the subject:
of Golan Biton (20.5%), or rather – the cannabis skeleton, fails to publish financial reports. The reason is the dispute she has with Tilray, regarding the produce Univo imported from Tilray worth about 3.5 million dollars, as well as another product worth about 2.3 million dollars that Univo claims was not supplied to the company and Tilray claims that it is a debt of Univo and that Tilray sent her a demand for it payment. The company reported this about a week ago (for details, click here)
The truth is that it doesn’t matter if the company is right or wrong – the market thinks it is doomed. Its stock trades at a market value of only NIS 5 million and the yield on its bonds reaches 425% (yes, four hundred).
In the meantime, Univo’s CFO, Itamar Amoyel, also resigned, according to the company, it is not a matter of circumstances that should interest the investors. But come on – the stock is crushed, the investors have lost faith in the company, everything that is currently of interest to the investors who lost their money.
By the way, this whole story started because of Univo’s strange claim a year ago that it supposedly signed an exclusive contract with Tilray for distribution in Israel. But how can that be? Intercure signed it two years ago. It was strange even back then and we wrote about it, and now it didn’t actually happen:
Univo’s accounting firm is EY (Ernst & Young) which has already messed up the company’s financial statements for the first quarter of 2022 where a going concern comment was “omitted”. How was such a comment omitted? This is a test that the accountant should do and it shows if the company has enough resources to service the short-term obligations. How do accountants mess up like that? That’s a good question. But at EY for the time being they do not provide answers.
If you want to specialize in the capital market and you have a big head and motivation, you can be a good fit for us.
The job can be part-time; flexibility in working hours; Work from home too.
Preference (not mandatory) for writing experience and basic familiarity with the capital market.
Leave details and we will get back to you
Thank you for leaving details, we will try to get back to you as soon as possible
Univo is in the liquidation sale of assets and there is great fear that in the coming quarters it will return its soul to the Creator. As mentioned, Univo’s shares have crashed since the beginning of the year by 93% to a price of 14 shekels, which represents a market value of NIS 4.75 million. The company lost in the first half of the year NIS 26.3 million on revenues of NIS 21 million. In 2021 as a whole, the company lost NIS 4.3 million on revenues of NIS 42.2 million.
By the way, it is interesting to note that Univo also wanted to make a Spak merger on Wall Street. We estimated at the beginning of the year that this would not happen. The one who fell into the trap of the company is Nir Tsuk, one of the founders of Palo Alto. So it’s true that it’s not money for him, but he still lost NIS 10 million here. And here is the lesson for investors – sometimes talent is not a guarantee of investment success.
Comments to the article(0):
Your response has been received and will be published subject to the system policy.
Thanks.
for a new comment
Your response was not sent due to a communication problem, please try again.
Return to comment