RAN is treating the audit like it is some kind of 'negotiation' process. It's not!
The auditors clearly will not sign off on assets being valued on a going concern basis. And it looks like 3 different sets of Auditors are involved. All with their own professional opinion.
RANs only option to clear this mess up is a recapitalization so that assets are greater than liabilities.
So once again. If RAN is in 'the best position since listing', why the outright reluctance from management to cover the cash position of the Indo Tax determination.
Instead they publish a statement confirming missed regulatory deadlines with the only explanation that things are 'complex'.
Maybe management want to take the company private and this in the best course of action to achieve it?
RAN is treating the audit like it is some kind of 'negotiation'...
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