Evans Medicals PLC Is Broke And Hanging To No Straw

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Evans Medicals is broke and the company might not be redeemable from an eventual collapse

This is one of the most scariest results released on the floor of the Nigerian Stock Exchange today.

Apart from the fact that company is reporting its Q1-Q3 result 2015 in mid year 2016, the company declared a net loss of NGN722 million in Q3 2015, almost neck and neck with NGN718 million loss it made within the same quarter in 2014.

A worrying sign of a company struggling to stay alive is that the report is a one pager with no footnotes to explain the result and or reasons behind its challenging outlook.

Evans Medicals’ total current asset as at Q3 2015 is NGN935 million compared to its current liabilities at a staggering NGN3,6 billion. With this, Evans Medicals’ existence is no more tenable.

 

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