For yearly accounts, update statements and 4c reporting to paint such a rosy picture in the past, to now publishing the half yearly (remember this is before BRTV administration) that is almost at the other end of the spectrum, something has to give.
Either there will be some serious charges laid against one or all of the following, Directors for letting this happen under their watch, the accountants for churning out the previous accounts, the management for stating all cash was from customers, the auditors for signing off, the AFR if nothing happens to any of the other parties. Or if nothing happens and all are just given a stern talking to, then the ASX and ASIC are basically saying they are a joke, the market is a money making machine and a joke (not for investors though, just a cash cow for failing companies and managers, investment banks and brokers) and anything that is released by companies and management could be a complete misrepresentation of actually what is going on. Next royal commission coming up, now I know why people in the industry stear clear of small caps like the plague.
BIG Price at posting:
$2.22 Sentiment: Sell Disclosure: Held
