Just Energy Group Inc. (Canada) T.JE

RE:RE:REALLY???

[rusty777]

Check-up - you are right its IS only a small portion of receivables, however, it is, for example equivent to 33 cents a share or almost 3 quarters worth of Dividends.   It's not a disaster, but HOW did it happen - where was the oversight (the CFO and the Finance Committee of the Board of Directors) and is there more than what they are describing - (there usually is).

This was probably only identified through whatever company was thinking of purchasing JE doing its DD and finding discrepencies......if I were them I would run.....or at the very least modify my offer.

My frustration with all this is that there is NO ACCOUNTABILITY - either managment didn't know what was going on (ie incompentent) or knew it and ignored it (complicit) - pick your poisen - either way it does not bode well for the shareholders who end up being on the hook for this.  The worst that will happen IF  (and its a BIG "IF") anyone is held accountable is that they will be let go with a whopping severence in the tens of millions so they can spend their days lying on the Beach on their Cayman Island estates laughing at the rest of us.

I hve little doubt that the actual amount is much greater than what they state nor that it was only going on for a year.  In a perfect world the entire management team and BoD would take a pay hit until the equivelent amount is recouped........but that will never happen.

I would anticipate the share price going back to the $4.00 range - the value of a company is to a large part dependent on the credibility and integrity of the Managment Team - at present JE has little to none of either.

Waiting for the other shoe to drop

Sad

GLTA

Rusty