GREY:CPYCF - Post by User
Comment by
bocamanon May 09, 2013 1:33pm
137 Views
Post# 21358224
RE: Auditor's Report of CEC: significant doubt due
RE: Auditor's Report of CEC: significant doubt due Good catch, mokita!
The facts of the deficit and the operating loss are not new - these appear every year in Note 1 to the statements. (For 2011 they were trivial as CEC had just issued shares in a financing. For 2010 the deficit was $12.1 million and the loss was $1.7 million).
What's notable this year is that the auditors believed it necessary to emphasize the matter.
Auditors don't use "Emphasis" statements casually. Their use is guided by the profession's code of practice.
There is a connection between the "Emphasis" statement and the fact that the May 16 AGM is also a "Special Meeting." What will it be? Reorganization? Takeover? Share consolidation to reduce the 63 million shares outstanding to 10 or 20 million?