all over red rover, page-39

I also can't understand why the accounts have not been released. FEA have had a forensic accountant appointed by the banks crawling over them for the last 6 months!

No doubt they are arguing over "Revenue recognition" or when MIS revenue can be recognised but you would have though they would have sorted it out by now. One assumes the accounts are not pretty hence why they being held back to be (hopefully) released with some good news.

I suspect we will only see the accounts if FEA announces a rescue package. If they go under we will probably never see them.

Which brings to an interesting point, as the banks are unlikely to be providing any working capital FEA don't seem to have a cashflow problem at the moment... so expect another extension today?