RE: Iciena's ManagementThis is my take on what is going on.
Basically, when you see a company have a "advance to related parties" it is a sign that there is no control over the checkbook. Management is writing checks to themselves, without any invoices or anything. They simply just pull cash from the treasury and stuff it in there personal bank account.
Then, when it comes time to report to the public what has happened, the bookkeeping firm (they even mention in the MD&A they have made the firm more efficient?) is at a loss. There is all this cash going to management with no backup or anything. So they have to put it as an "advance to related parties". Even though an entry like this will probably get the company investigated by the regulators, the bookkeepers are left with little other choice.
This is a major warning sign of problems within the company. I also note that the "advances to related parties" are further broken out to include directors and consultants. Which consultants are related parties?
I have sold every share I own. I am concerned this will get a Cease Trade Order the minute a regulator picks up these financial statements and sees such a glaring red flag that demonstrates complete misappropriation of public capital.