Nordex Explosives Ltd V.NXX

FORENSIC AUDIT NEEDED

[withoutabias]

Knowing what I know about margins in the explosives industry I submit to you that the last quarter results do not add up. With sales holding nicely it is impossible to have a loss on the revenue shown by Nordex. Unless the management is doing some unbecoming staff !!!  In my earlier posting after All Group Financial Services (with Luciani, Taylor  and O'reilly possibly implicated)  hijacked the Nordex Board of Directors I have warned you about possibilities, such as All Group extracting unnecessary fees, or  Taylor filling up payroll with his friends and family. Al,l speculation, of course. The question is , where did the cash (from massive private placement at 45 cents and the operationa cash flow dissappear.

So far no explanation given by the Board. The "normal auditors" base their audit on information provided by the management and do not exercise value judgement on management expenditures. If there was misallocation of shareholders money only forensic audit can identifyBy the way that happened to Nordex several years ago, and problems were detected and identified.

[Bboomer2]

When "Explosives Company A" did their due diligence, they concluded Nordex stock was worth $0.01 when all debt and assets were considered. Where did all the RBC $ go that were recently made available?  Seems they were sort of  borrowning money on the credit line to pay off credit cards.   Seems RBC loaned the money based on Q3 results.   They may be reconsidering