Vanadiumcorp Resource Inc V.VRB

August.

[Eric1212]

Apparently, the situation should be fixed in month of August.

 

Source : 

Adriaan Bakker -- 15th of July wrote:  it appears the last number of weeks they have appropriate attention to our file and we are optimistic about the bottleneck of the auditing step to resolve in coming week. From there, we file our quarterlies, submit a revocation order and application to reinstate trading which is generally straight forward. For a general estimate, lets say between a few weeks to a 45 days worst case is our hope.

[VANADIUMREDOXFL]

This doesn't sound like a reason why they haven't filed. The " bottleneck" happened because they won't be filing for almost 1 year since announcing the SPV. Just what is being resolved? What caused the breakdown in being able to file quarterlies and YE statements?

[Eric1212]

Auditors bottleneck. Basically, they selected a bad auditor.

[VANADIUMREDOXFL]

Yeah, that sounds right. The auditors screwed it all up for the past 9 months. Couldn't see the handwriting on the wall.I hope the new auditors will determine the facts and substantiate the reason why the BCSC put on the kibosh, or someone will.

[CanThisBeTrue]

vanadiumredoxfl,I hope it's obvious why the halt was applied by now.Do you or any of the bullboard members actually know if the auditor company was changed. I only read that a company called Smythe ... was our new auditor on one of the bullboard posts. If the auditor was changed I would expect a news release and explanation.

[VANADIUMREDOXFL]

I know why the halt was used,but what's the underlying reason for not ever filing? The answer we receive is the company was inept,didn't know what they were doing for nine months. Ok, you are right, if they changed auditors we should know, as a formality at least ,and now we're looking ahead to what?

[VANADIUMREDOXFL]

Sorry,but 9 mos. is a little bit of a stretch.

[VANADIUMREDOXFL]

Tell me how an auditor can be at fault when there were no statements filed?

[CanThisBeTrue]

vanadiumredoxfl,The financial statements are produced by the auditor.The company does the day to day accounting and produces monthly FS (normally) the last of which, the year end, the auditor has to correct (normally), they are the starting point for the auditor but if the company did not produce FS for the auditor the auditor is capable of producing them but it would be expensive.I'm sure VRB

[VANADIUMREDOXFL]

I'm trying to figure out WHY, after signing multiple MoU's, a battery plant, an SPV and you know the rest of it; the company didn't produce monthly FS which they are responsible for. This is the explanation for the 9 month delay, but what is the real underlying reason for their "failing" to file? ""

[TheDog2]

Vanadiumredoxfl, you don't have to be Einstein to figure this company out. All you have to do is research the history of activities/non-activities, and you will find your answer. What one says they are going to do, does not mean anything will be done. Hope you have other investments that are proving to be successful.  Take a look at all their agreements and let me know of one that has

[explman]

Seriously. CTBT, you said "The financial statements are produced by the auditor." That is nnaive beyond belief. Management produces the financial statements. The auditors simply check the numbers, verify back up docuements (invoices , contracts etc). THEY DO NOT PRODUCE THE FINANCIAL STATEMENTS. My god, the ignornace of so called investors on thsi board never fails to amaze and amuse.

[CanThisBeTrue]

explman,I used to be on Dunwoody's audit team years ago and you are basically right but the FS produced by the company are seldom the final FS.Normally the auditor makes 'adjusting entries' that change the company's version and occasionally significantly therefore it is actually the auditor producing the final FS.  The company's FS can be regarded as interim FS.Although

[CanThisBeTrue]

testing testing

[CanThisBeTrue]

explman, I think you owe me an apology.

[poliden]

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