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Rossdale Buying Capital Golf Club

Rossdale capital purchase

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#1396 hack2489

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Posted 01 September 2019 - 01:02 PM

The $331k fraud repayment was the previous year.


Was actually listed as a "receivable" at 31/3/18, but shows as nothing due by 31/3/19.

If not written off as a bad debt, that would indicate the $331k was received in the year to 31/3/19.

#1397 hack2489

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Posted 01 September 2019 - 01:02 PM

The $331k fraud repayment was the previous year.


Was actually listed as a "receivable" at 31/3/18, but shows as nothing due by 31/3/19.

If not written off as a bad debt, that would indicate the $331k was received in the year to 31/3/19.

#1398 hack2489

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Posted 01 September 2019 - 01:09 PM

RGC 2019 Annual Report (2).pdf
Finally got it this morning.

A number of vague and what I consider to be opaque comments regarding the financial situation. The inference is that all loans are paid and there’s money in the bank. However, only $1.51m was received post balance date and the total borrowings were $2.47m.

It’s still bleeding huge amounts of cash and reduced interest charges is not going to reverse this situation.

Membership 600 which is still 150 short of what thir president states as a “survival” number.

Also, interesting is the President’s comments reCapital. He carefully doesn’t name Crown or Capital. Has he been warned off by Crown’s solicitors?

In summary there’s nothing to suggest that RGC isn’t in a dire state financially.


Yeah, something doesn't read or feel quite right in these accounts.

Wording in report vs the notes to the accounts don't make sense.

Look at the note to the accounts re the land sale. Not all the $$$ received by the time of the audit? Hmmm.

Then the 'all debt paid' comment in the report, but, not the same in the Note to the accounts?

Also, looks like some very generous members have provided funding to the club. Not a good sign in my experience.

I wonder if any of these private financial good samaritans have any links to developers? Do they have any security over the assets of the club? Even ranking behind the bank, now fully repaid?, they could control the club and land in the event of a financial collapse.

I suspect this saga is not over yet. Stock up on the popcorn and drinks!

#1399 hack2489

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Posted 01 September 2019 - 01:14 PM

...

Where’s Spade ?

...


Good question.

Surprisingly absent and quiet in here now that the financial situation is public.

#1400 hack2489

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Posted 28 September 2019 - 03:24 PM

🤔 ... Hmmmm.

A whole month nearly and nothing from Spade to rebutt the annual report and ACTUAL financial information. 😲

Popcorn has gone cold. ☹️

#1401 Spade

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Posted 28 September 2019 - 04:57 PM

Good question.

Surprisingly absent and quiet in here now that the financial situation is public.



#1402 Spade

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Posted 28 September 2019 - 04:57 PM

Good question.

Surprisingly absent and quiet in here now that the financial situation is public.



#1403 INKY

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Posted 28 September 2019 - 06:42 PM

Maybe when he figures out how to quote.
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#1404 Goldy

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Posted 28 September 2019 - 07:10 PM

He might be shooting for your 1000 posts in a day record.

Say g’day to Ray.
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#1405 aussieashley

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Posted 28 September 2019 - 09:30 PM

Was there two alternatives to this thread?
Rossdale buys Capital or Rossdale goes broke?

Which are we closer too? Or is there more options?

#1406 golfguy33

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Posted 29 September 2019 - 11:48 AM

I wonder when the handover is scheduled to take place ? 

Jon...



#1407 Spade

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Posted 30 September 2019 - 01:38 PM

Maybe when he figures out how to quote.

Hi

#1408 koiom K. Asterisk*

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Posted 30 September 2019 - 01:53 PM

Someone get this man a participation award STAT!


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#1409 hack2489

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Posted 01 October 2019 - 07:08 AM

I wonder when the handover is scheduled to take place ?
Jon...


Handover? Of what... 🤷‍♂️

#1410 SteveH115

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Posted 01 October 2019 - 10:16 AM

Handover? Of what... ‍♂

The handover to the receivers.


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