TSXV:NKW.H - Post by User
Comment by
BayWallon Feb 19, 2023 3:22am
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Post# 35294112
RE:Change of Auditor
RE:Change of AuditorMy opinion. The wind project was sold to Northland Power and its's taking time to see whether the project will proceed. Northland still has the project on their books as an early development asset. Maybe it was felt by management that the previous auditor was hasty with their comments. So it was like this:
Oceanic Wind Energy Inc. filed its Annual on Jan 27, 2022 for the period ending Sep 30, 2021. In this report its auditor, KPMG LLP - Klynveld Peat Marwick Goerdeler, gave an unqualified opinion expressing doubt that the company can continue as a going concern.
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Management have always expressed confidence in the project, as shown by statements made in their annual MD&A. Yes there is uncertainty but there is hope also. If only express opinion based on uncertainty, then many companies on the Venture Exchange can be written off.
Statements should also show management's interpretation of the conditions and management's future plans.