Ann: Half Yearly Report and Accounts, page-28

Ok, well since you seem to be struggling with both the words and numbers, I’ll break it down for you. If you can prove me wrong by market open today, I will gladly apologies and ask the mods to delete my posts in this thread. Otherwise, I will forward my concerns to the ASX for their consideration.

CURRENCY USED FOR REPORTING
- Creso’s registered office is in Australia (https://www.asx.com.au/asx/share-price-research/company/CPH/details)
- They are also listed on the ASX
- Thus, by default, all ASX reports published by Creso are in AUD unless stated otherwise.
- The most recent half yearly report is in AUD. (https://www.asx.com.au/asxpdf/20180828/pdf/43xsc54hchr9l8.pdf)
- There is no mention of CHF or swiss franc anywhere in that document.
- Accordingly, its annual and half yearly accounts are in AUD unless stated otherwise.

REPORTED REVENUES
- Creso reported revenues of $244k from operations for the full year ended 31/12/2017
(https://www.asx.com.au/asxpdf/20180227/pdf/43rzxcyjvdr1gv.pdf)
- As noted above, these are in AUD.
- Just recently, they reported half yearly revenues of $183k for the 6 months ended 30/6/18.
- In addition, they reported just over $9k sales for the first half of last year (i.e. the 6 months ended 30/6/17).
- This means that revenues in the second half of last year (i.e. the 6 months ended 31/12/17) must have been $244k - $9k = $235k.
- Hence, the change in revenues from the previous 6 months (ended 31/12/17) to the most recent 6 months (ended 30/6/18) is a drop from $235k to $183k.
- This represents a DECREASE in REPORTED REVENUES of 22%.
- It also means that the revenues of $311k reported in February have somehow disappeared. (see here https://www.asx.com.au/asxpdf/20180227/pdf/43ryljhrqfx4km.pdf)

RECEIPTS FROM CUSTOMERS
- The 4c released on 30/4/2018 shows receipts from customers of AUD$188k for the 3 months ended 31/3/18. (https://www.asx.com.au/asxpdf/20180430/pdf/43tmm4l3kyxly4.pdf).
- And the 4c released on 31/7/18 shows receipts from customers of AUD$7k for the 3 months ended 30/6/2018.
- Together, these give receipts for the first half of this year of $195k.
- However, the half yearly report that was just released, which covers the same two quarters above, shows receipts from customers of $321k (https://www.asx.com.au/asxpdf/20180828/pdf/43xsc54hchr9l8.pdf).
- Clearly, these numbers don’t add up.