According to the company, they are changing auditors due to the...

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Christopher67

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29/02/24

14:34

Post #: 72672332
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Originally posted by Basileus: ↑

Whilst there are 'throwaway' comments around FUD - my question, in regard to this update is, what is actually going to happen following 12+ months of nothing?

There are two items in the announcement.
1. "... is currently in the process of applying to ASIC"

"in the process"?
Does that qualify as substantive news.

What might qualify as substantive news is this perhaps, "... ASIC have issued a 60 day notice that it intends to the deregister the company"

That, at least, is a fact. It was not referred to in that announcement. Why not?

Why does this "update" not address the reasons for the ASIC deregistration notice?

2. "... is also now in the final stages of finalising the due diligence and terms of the potential transaction"
"final stages of finalising" (sheesh ... who wrote that?)
"potential transactions"

Does anyone know why they are changing auditors?

On the basis of the above, I think it is it fair to conclude that there is nothing substantive in this 'announcement'.

Is that a fair summation?

Expand

According to the company, they are changing auditors due to the cost being too high.

https://www.marketindex.com.au/asx/cgb/announcements/company-update-and-request-for-extension-of-suspension-6A1175927

Let us hope that the change of Auditor sails through with no issues.

CGB Price at posting: 2.1¢ Sentiment: Sell Disclosure: Held
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According to the company, they are changing auditors due to the...

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