CGB 0.00% 2.1¢ cann global limited

"Maybe Nexia did double their fees, to get removed as...

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    "Maybe Nexia did double their fees, to get removed as auditor?"

    Yeah, I explored that in a post a while ago mate but also indicated it'd be an irresponsible message to show their other clients that they would take such action.
    Totally agree with that possibility alright, but for me, I'm of the opinion that it's more likely to be a case of mis-direction by CGB in their 'clever' wording.

    Their last financial report of any kind was the Dec 2022 quarterly, released on 1st Feb 2023.
    They had another few weeks to release the 6mth report which never transpired, so something happened around 12 months ago to inhibit the production of that report.

    Yet, it wasn't until 24 October 2023 that they announced there was a problem with paying Nexia - during which time a further TWO Quarterlies were overdue, nevermind the full 2022/2023 Annual Report.
    Ring any bells (of course we know all about it) with their unwillingness to pay for services, ie Medcan v CGB prosecution ?

    "The need for a change of auditor has been a mutual decision between the Company and
    the Company’s current auditor due to not being able to come to an agreement for the remuneration
    following the last audit being charged at more than double what was originally estimated
    ."

    Now we have the situation of them being in discussion with HLB Mann Judd and ASIC - "We expect that process to be complete during March."

    "The Company will THEN work with the new auditors to finalise its outstanding 2023 annual report"

    Imo, it'll be a very long time before ANY kind of financials are made known.
    There must be a statute of limitations involved wherein Financial Law Enforcement have to get involved to ensure their intention to defraud investors doesn't exist - to safeguard the integrity of the Market/ASX.

 
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