GREY:PTQMF - Post by User
Post by
wwadehammeron Nov 25, 2013 9:53am
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Post# 21937694
Another Feather In Our Cap
Another Feather In Our CapWe cease trading for a day, not that big of a deal, but why did it have to come to that? With the accounting software available now, the company could have issued the Quarter 1 Financial Statements within 15 days of the end of the quarter easily. Instead, the company took 52 days and was 7 days late in filing. Would the filing have been later if the BCSC hadn't step in with the cease trade order? Why would management not want to issue a set of financial statements and MM&As?
You can guess;
Management wanted to withhold bad results until after yearly voting was complete as there's a chance management will get a vote of no confidence?
Did the company want to hold off as finalization of negotiations for a loan or sale of assets was near?
Are they just a group of idiots that can't meet any kind of deadline?
If the cease trade order is not lifted tonight, that means the BCSC is looking at something in the Statements themselves. Hope that doesn't happen.