Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
When a company issues bad news after hours the reason is so as to try to slip it out with nobody noticing (futile these days, it simply draws attention and gives sad individuals like me an excuse to start digging – see yesterday’s piece on Rurelec HERE). Secondly, it is just a damned insult to the shareholders who the company management supposedly work for. Yesterday, after hours – at almost 6pm on a Friday when everyone really has gone home for the weekend, out came not one but two bad news announcements.
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Comments
2+2=4
Who are the auditors?
Nigel Somerville
Well I guess it is full marks to Auditor Jeffreys Henry LLP, who signed off the above accounts for FY14. Well done fellas. Great job. Remind me to add your name to the Red Flag list. Going concern by backside, I can’t even find a ‘material uncertainty’ statement!