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Forum Thunderbird Resorts geopend

247 Posts
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  1. forum rang 10 DeZwarteRidder 19 maart 2021 12:57
    MANAGEMENT STATEMENT ON "GOING CONCERN":
    This statement is made taking into account the global health crisis and economic fallout caused by the pandemic Covid-19. There is instability in our markets and globally that could impact on Group activities in ways that are currently unpredictable. To account for the unpredictable conditions, in forecasting future cash flows in our assessment of Going Concern, Management has made certain extraordinary assumptions. Specifically, we have:
    1.Forecasted a materially negative impact on revenue for the years 2020 and 2021, with revenues returning to 2019 levels only as of 2022.
    2.Forecasted expenses to remain approximately at the levels they are as on date of publication of this 2019 Annual Report, meaning we are assuming(for Going Concern assessment only) that the Group has no more flexibility to drive down expenses further.
    3.Assumed that: a) A portion of our secured debt will be restructured as an interest-only loan through 2021; and b) Our remaining unsecured debt will be deferred and repaid against liquidity events.
    4.Assumed no development nor material construction, but do assume some repurposing of existing real estate to accommodate for changes in demand.
    5.Forecasted no extraordinary one-time events that may impact positively or negatively on the Group’s cash flows, though such events are possible particularly given the environment.
    6.Assumed a stable regulatory environment in all countries with existing operations, and have forecasted receiving no governmental support apart from what has already been received as described in Other Group Events on pages 10 and 11 of the Group’s 2020 Half-year Report.Management has reviewed their plan with the Directors and has collectively formed a judgment that the Group has adequate resources to continue as a going concern for the foreseeable future, which Management and the Directors have defined as being at least the next 12 months from the filing of this 2020 Half-year Report. In arriving at this judgment, Management has prepared the cash flow projections of the Group. Directors have reviewed this information provided by Management and have considered the information in relation to the financing uncertainties in the current economic climate, the Group’s existing commitments and the financial resources available to the Group. Specifically, Directors have considered: (i) there are probably no sources of new financing available to the Group; (ii) the Group has limited trading exposures to our local suppliers and retail customers; (iii)other risks to which the Group is exposed, the most significant of which is considered to be regulatory risk; (iv) sources of Group income, including management fees charged to and income distributed from its various operations; (v) cash generation and debt amortization levels; (vi) fundamental trends of the Group’s businesses; (vii) ability to re-amortize and unsecured lenders; and (vii) level of interest of third parties in the acquisition of certain operating assets, and status of genuine progress and probability of closing within the Going Concern period. The Directors have also considered certain critical factors that might affect continuing operations, as follows: •Special Resolution: On September 21, 2016, the Group’s shareholders approved a special resolution that, among other items, authorized the Board of Directors of the Corporate to sell “any or all remaining assets of the Corporation in such amounts and at such times as determined by the Board of Directors.” This resolution facilitates the sale of any one or any combination of assets required to support maintaining of a going concern by the Group.•Corporate Expense and Cash Flow: Corporate expense has decreased materially in recent years, but still must accommodate for compliance as a publiccompany.•Liquidity and Working Capital:
    As of the date of publication of this 2020 Half-year Report, the Group forecasts operating with low levels of reserves and working capital.

    Selling assets will be critical to creating a healthy level of working capital reserves for periods beyond the Going Concern period, which ability to liquidate assets is currently unknown.Considering the above, Management and Directors are satisfied that the consolidated Group has adequate resources to continue as a going concern for at least the 12 months following the filing date of this report. For these reasons, Management and Directors continue to adopt the going concern basis in preparing the consolidated financial statements.
  2. forum rang 10 DeZwarteRidder 30 april 2021 17:44
    quote:

    Waaghals schreef op 30 april 2021 17:05:

    Weet iemand wanneer ze met de jaarcijfers komen.
    Misschien dat er dan wat meer beweging in komt, want zo schieten we niet op.
    Je kan beter hopen dat ze NIET met de jaarcijfers komen.............

    Deze tent is FAILLIET..........
  3. forum rang 10 DeZwarteRidder 26 juli 2021 11:28
    Dit is het laatste nieuws:

    THUNDERBIRD RESORTS MOURNS THE PASSING OF A DIRECTOR
    AND ELECTS BOARD MEMBER

    Thunderbird Resorts Inc. ("Thunderbird") (FSE: 4TR; and Euronext: TBIRD) announced today that George
    Gruenberg, a member of Thunderbird Resorts Inc.’s Board of Directors, has passed away. Mr. Gruenberg had
    been a director of the Company since December 2013. Salomon Guggenheim, President and Chairman of the
    Board of Thunderbird stated, “We will be forever grateful to George for his dedication and service to Thunderbird
    Resorts Inc. It has been a privilege for me and our Board members, as well as Management, to work alongside
    George. We are very saddened by George’s passing and he will be greatly missed. George was a tremendous
    supporter of the Company and for that, we will always be appreciative of his impact here. The Thunderbird family
    offers our thoughts, prayers and support to the entire Gruenberg family at this time.”

    Reto Stadelmann, has been elected to the Board pursuant to Thunderbird’s charter. Mr. Stadelmann previously
    joined us as a Director in June 2012 and resigned that position in February 2016 to pursue other business interests.
    Mr. Stadlemann will join Thunderbird’s audit committee and brings to the Company a world of business and
    financial experience.

    Salomon Guggenheim
    Chief Executive Officer and President

    ABOUT THE COMPANY: We are an international provider of hospitality services. Additional information
    about the Group is available at www.thunderbirdresorts.com.
  4. forum rang 10 DeZwarteRidder 26 juli 2021 11:29
    Dear Shareholders and Investors:

    The below summarizes the Group’s performance through December 31, 2019. Because of the sale of the Group’s
    Peru gaming operations in April 2018, we report only continuing operations so that the reader might compare
    continuing business with the results of the same businesses through December 31, 2018.
    1. CHANGES IN PERFORMANCE IN 2020
    A. EBITDA1: Peru property EBITDA fell by $653 thousand through December 31, 2020 as compared to the
    same period in 2019. During the same period, Nicaragua property EBITDA decreased by $284 thousand.
    Corporate Expense was reduced by $425 thousand in 2020 as compared to 2019. Adjusted EBITDA decreased
    by approximately $513 thousand in 2020 as compared to 2019. B. Profit / (Loss): Our Loss worsened by approximately $530 thousand for the period as compared to 2019.
    This decrease was overwhelmingly the result of reduced revenue of $3.3 million post the onset of Covid-19,
    even though management responded with $2.8 million in expense cuts at all levels. C. Net Debt: Due to a change in accounting policy as required by IFRS 16, the Group is now required to account
    for the net present value of real estate operating lease contracts as Obligations under leases and hire purchase
    contracts. Approximately $4.4 million of our net debt is comprised of Obligations under leases and hire
    purchase contracts. Our Net Debt variance between 2019 and 2020 is virtually nil.
    2
    T h u n d e r b i r d B u i l d i n g , C a l l e A l b e r t o N a v a r r o , A p t . 0 8 2 3 - 0 0 5 1 4 , P a n a m a , R e p u b l i c o f P a n a m a
    T e l e p h o n e : ( 5 0 7 ) 2 2 3 - 1 2 3 4 e - m a i l : info@thunderbirdresorts.comwebsite: www.thunderbirdresorts.com

    2. IMPACT OF COVID-19 ON 2020 AND BEYOND
    Covid-19 hit our markets harder than in much of the world. Unlike in the developed markets, there was little
    fiscal policy implemented to support businesses in our markets. Having said that, Management has stabilized its operations and its cash management, and we feel reasonably
    confident that the Group is able to carry on with the shareholder mandate set forth in the September 21, 2016
    Special Resolutions. To be prudent, however, we maintain largely unchanged our Management Statement on
    Going Concern as last updated in our 2020 Half-year Report.
    3. SHAREHOLDER MANDATE AND OUR ASSETS
    We continue to pursue decisions that will support the best interest of shareholders according to the shareholder
    mandate set forth in the September 21, 2016 Special Resolutions the status of which is summarized below on the
    Group’s key remaining assets:

    A. Peru Real Estate Assets: As of the publication of this 2020 Annual Report, the Group continued to operate
    and wholly own a mixed-use tower containing a 66-suite hotel, approximately 6,703 m2 of rentable-sellable
    office space, and 158 underground parking spaces. B. Nicaragua Gaming and Real Estate Assets: As of the publication date of this 2020 Annual Report, the
    Group continued to own a 56% interest in a Nicaraguan holding company that owns the following assets: i)
    Gaming: Five full casinos and one slot parlor with a combined approximately 772 gaming positions; and ii)
    Real Estate: Approximately 4,562 m2 of land divided among 5 parcels, and some with tenant improvements
    as more fully detailed on page 14 C. Costa Rica Real Estate Asset: As of the publication of this 2020 Annual Report, the Group continues to
    own a 50% interest in a Costa Rican entity that owns the 11.6-hectare real estate property known as “Tres
    Rios”. Tres Rios, with its own, dedicated off ramp, is located close to the country’s 2nd largest mall on the
    highway between the capital city of San Jose and the commuter city of Cartago. We will continue to pursue decisions that will support the best interest of shareholders according to the shareholder
    mandate set forth in the September 21, 2016 Special Resolutions.
  5. forum rang 10 DeZwarteRidder 26 juli 2021 11:32
    GROUP OVERVIEW
    The Group’s consolidated profit / (loss) summary for the twelve months ended December 31, 2020, as compared
    with the same period of 2019 is contained in the Group’s Annual Report for year ending December 31, 2020,
    located at www.thunderbirdresorts.com . In summary, Group revenue and adjusted EBITDA reduced by $3.3
    million or 22.0% and $513 thousand or 18.2%, respectively. Consolidated Loss for the period is $2.4 million,
    $534 thousands or 29.2% below 2019.
    RISK MANAGEMENT For more detail on Risk Factors, see Chapter 8 of the Annual Report.
    MANAGEMENT STATEMENT ON “GOING CONCERN”
    This statement is made taking into account the global health crisis and economic fallout caused by the pandemic
    Covid-19. There is instability in our markets and globally that could impact on Group activities in ways that are
    currently unpredictable. We have taken measures already to adjust for the current conditions, which measures
    can be found on pages 15-16 under Other Group Updates. To account for the unpredictable conditions, in
    forecasting future cash flows in our assessment of Going Concern, Management has made certain extraordinary
    assumptions. Specifically, we have: 1. Forecasted a materially negative impact on revenue for the year 2021, as compared to pre-COVID 2019,
    with revenues returning to 2019 levels only as of 2022. 2. Forecasted expenses to remain approximately at the levels they are as on date of publication of this 2020
    Annual Report, meaning we are assuming (for Going Concern assessment only) that the Group has no more
    flexibility to drive down expenses further.

    3. Assumed that: a) A portion of our secured debt will remain as an interest-only loan through mid-2021; and b)
    Our remaining unsecured debt will be deferred and repaid against liquidity events.

    4. Assumed no development nor material construction, but do assume some repurposing of existing real estate
    to accommodate for changes in demand.

    5. Forecasted no extraordinary one-time events that may impact positively or negatively on the Group’s cash
    flows, though such events are possible particularly given the environment.

    6. Assumed a stable regulatory environment in all countries with existing operations, and have forecasted
    receiving no governmental support apart from what has already been received as described in Other Group
    Updates on pages 16 and 17. Management has reviewed their plan with the Directors and has collectively formed a judgment that the Group
    has adequate resources to continue as a going concern for the foreseeable future, which Management and the
    Directors have defined as being at least the next 12 months from the filing of this 2020 Annual Report. In arriving
    at this judgment, Management has prepared the cash flow projections of the Group. Directors have reviewed this information provided by Management and have considered the information in
    relation to the financing uncertainties in the current economic climate, the Group’s existing commitments and the
    financial resources available to the Group. Specifically, Directors have considered: (i) there are probably no
    sources of new financing available to the Group; (ii) the Group has limited trading exposures to our local suppliers
    and retail customers; (iii) other risks to which the Group is exposed, the most significant of which is considered
    4
    T h u n d e r b i r d B u i l d i n g , C a l l e A l b e r t o N a v a r r o , A p t . 0 8 2 3 - 0 0 5 1 4 , P a n a m a , R e p u b l i c o f P a n a m a
    T e l e p h o n e : ( 5 0 7 ) 2 2 3 - 1 2 3 4 e - m a i l : info@thunderbirdresorts.comwebsite: www.thunderbirdresorts.com

    to be regulatory risk; (iv) sources of Group income, including management fees charged to and income distributed
    from its various operations; (v) cash generation and debt amortization levels; (vi) fundamental trends of the
    Group’s businesses; (vii) ability to re-amortize and unsecured lenders; and (vii) level of interest of third parties in
    the acquisition of certain operating assets, and status of genuine progress and probability of closing within the
    Going Concern period. The Directors have also considered certain critical factors that might affect continuing
    operations, as follows:

    ? Special Resolution: On September 21, 2016, the Group’s shareholders approved a special resolution that,
    among other items, authorized the Board of Directors of the Corporate to sell “any or all remaining assets of
    the Corporation in such amounts and at such times as determined by the Board of Directors.” This resolution
    facilitates the sale of any one or any combination of assets required to support maintaining of a going concern
    by the Group.
    ? Corporate Expense and Cash Flow: Corporate expense has decreased materially in recent years, and continues
    to decrease, but still must accommodate for compliance as a public company.
    ? Liquidity and Working Capital: As of the date of publication of this 2020 Annual Report, the Group forecasts
    operating with lower levels of reserves and working capital until such time as liquidity events might occur.
    Selling assets will be critical to creating a healthy level of working capital reserves for periods beyond the
    Going Concern period. Considering the above, Management and Directors are satisfied that the consolidated Group has adequate
    resources to continue as a going concern for at least the 12 months following the filing date of this report. For
    these reasons, Management and Directors continue to adopt the going concern basis in preparing the consolidated
    financial statements.
  6. forum rang 4 HOBBYMAN 3 augustus 2021 19:49
    Enkele dagen geleden na enkele mooie ritjes laatste stukken verkocht voor 40ct. Vandaag veel aandelen verhandeld t.o.v. gemiddeld aantal.
    Laatste jaarcijfers zijn opgemaakt op continuïteitsbasis, hetgeen betekent dat voorlopig geen faillisement te verwachten is.
    Bedrijf heeft in 2020 en begin 2021 n.m.m. flink last gehad van corona.
    Weet iemand ( misschien Zwarte Ridder) of er toekomstprognoses zijn afgegeven door directie?

  7. forum rang 4 HOBBYMAN 5 augustus 2021 13:17
    Ik heb vanmiddag order uitgezet bij 0.10 eurocent. Naar mijn mening kan koers niet veel verder omlaag.
    De parken van Thunderbird zien er goed uit en het wachten is op het moment dat toerisme naar deze plaatsen weer aantrekt.
    Verder lijkt me overname van parken door grotere organisatie geen utopie.
    Ik weet dat het een gok is maar af en toe mag dit wel eens.
  8. forum rang 10 DeZwarteRidder 5 augustus 2021 13:59
    quote:

    HOBBYMAN schreef op 5 augustus 2021 13:17:

    Ik heb vanmiddag order uitgezet bij 0.10 eurocent. Naar mijn mening kan koers niet veel verder omlaag.
    De parken van Thunderbird zien er goed uit en het wachten is op het moment dat toerisme naar deze plaatsen weer aantrekt.
    Verder lijkt me overname van parken door grotere organisatie geen utopie.
    Ik weet dat het een gok is maar af en toe mag dit wel eens.
    Laat me niet lachen; deze tent is een zombie-tent.

    Ze hebben trouwens helemaal geen 'parken' en hebben ook in de goede tijden nog NOOIT winst gemaakt.
  9. forum rang 10 DeZwarteRidder 5 augustus 2021 14:00
    quote:

    HOBBYMAN schreef op 3 augustus 2021 19:49:

    Enkele dagen geleden na enkele mooie ritjes laatste stukken verkocht voor 40ct. Vandaag veel aandelen verhandeld t.o.v. gemiddeld aantal.
    Laatste jaarcijfers zijn opgemaakt op continuïteitsbasis, hetgeen betekent dat voorlopig geen faillisement te verwachten is.
    Bedrijf heeft in 2020 en begin 2021 n.m.m. flink last gehad van corona.
    Weet iemand ( misschien Zwarte Ridder) of er toekomstprognoses zijn afgegeven door directie?
    De toekomstprognose van de directie is: alles verkopen en de opbrengst gebruiken om de schulden af te lossen.

    Helaas wil niemand deze troep kopen.
  10. forum rang 4 HOBBYMAN 5 augustus 2021 17:46
    quote:

    DeZwarteRidder schreef op 5 augustus 2021 13:59:

    [...]

    Laat me niet lachen; deze tent is een zombie-tent.

    Ze hebben trouwens helemaal geen 'parken' en hebben ook in de goede tijden nog NOOIT winst gemaakt.
    De door hun geboden faciliteiten liggen o.a. op of bij vakantieparken.
    Dat het bedrijf geen winst gemaakt heeft wil nog niet zeggen dat dit geen bestaansrecht heeft. Alle begin is moeilijk en vaak gaan de kosten voor de baten. Er zijn ooit geldschieters geweest die vertrouwen hadden in de opzet van dit bedrijf.
    Zoals u weet zijn er legio bedrijven die nog nooit winst gemaakt hebben en toch goede koersen hebben op basis van toekomstverwachting.

    Ik heb eerder al gezegd dat dit een speculatief aandeel is, maar dat wil nog niet zeggen dat de zaak failliet gaat. Volgens de directie in ieder geval nog niet dit jaar.
  11. forum rang 4 HOBBYMAN 5 augustus 2021 17:49
    quote:

    DeZwarteRidder schreef op 5 augustus 2021 14:00:

    [...]

    De toekomstprognose van de directie is: alles verkopen en de opbrengst gebruiken om de schulden af te lossen.

    Helaas wil niemand deze troep kopen.
    Vandaag weer leuk ritje gemaakt. Gekocht op € 0,105en verkoop op € 0.139
247 Posts
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