RE:RE:Verde releases revised Q2 financial statementsTechOne wrote: Do you have a link to this press release ? Can't find it any where.. Thanks..
Hello Tech One,
The Company chose not to issue a News Release that would I suppose bring unwanted attention to the fact that they had issued erroneous financial statements.
The amended returns were posted to SEDAR this morning along with the usual certifications that the CEO and CFO confirm the statements that have been filed are complete and accurate. They had submitted the same certification with the statements on Monday that turned out to be mis-stated by $3.5 million on the Q2 comprehensive income. Hopefully their certification signed today is worth more than the one they signed on Monday.
This is too bad from my perspective. The Company misses out on the opportunity to crow about the first ever quarterly comprehensive profit the Company has ever recorded. From a personal perspective, it means existing shareholders are selling their shares today on the basis of incorrect information as to how well the Comapny is actually doing, and frankly I have been happy buying them all through today's trading.
If you think the 2021 Q2 bottom line is awesome, wait until you see the Q3 numbers. If they meet expectations, my models suggest you will not be able to buy Verde shares in November (after the results are released) at under $2.
Just my opinions and assessment. Please do your own DD.
Cheers,
S.