Yup, the Auditor don't want to be sued. They are crossing all...

First 3 Last

Share
Profile

Follow
Cosmoterios

19,072 Posts.

2666

30/09/17

09:22

Post #: 27567822
Share

Originally posted by iansmith2 ↑

Possibly the auditors are refusing to accept the way the money owed by Apollo has been counted in the EVM books.

Up till now the money owing from Apollo has been booked as deferred income and is the only major asset of the company. There is a corresponding opposite current liability. As much of this money has been owing since about 2013 EVM seem to be bending accounting rules by keeping it as a current liability. Current liabilities normally mean money that will be paid within 12 months.

If EVM has to reverse out this transaction, and remove the deferred income, the EVM books will show almost no current assets. Basically the company would then be just an empty shell.

We will see soon enough.

Expand

Yup, the Auditor don't want to be sued. They are crossing all the "t" and dotting all the "i".

EVM Price at posting: 10.0¢ Sentiment: Sell Disclosure: Not Held
2 Upvote

0 Great analysis

Reply

Top Stories

Listen: HotCopper Wire Podcast 019 – Dreaming of the 9,000s

ASX Market Close: Iron awe keeps the XJO tracking along

Japan tariff deal inked at 15% – as long as US gets half a trillion of investment

TLX

Telix sinks as US regulator SEC issues subpoena over claims

TMG

Trigg brings famed Finnish metals refiner – and its tech – onboard to bolster antimony processing

First 3 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Yup, the Auditor don't want to be sued. They are crossing all...

Top Stories

Listen: HotCopper Wire Podcast 019 – Dreaming of the 9,000s

ASX Market Close: Iron awe keeps the XJO tracking along

Japan tariff deal inked at 15% – as long as US gets half a trillion of investment

Telix sinks as US regulator SEC issues subpoena over claims

Trigg brings famed Finnish metals refiner – and its tech – onboard to bolster antimony processing

Featured News