Took me some time to read and digest the announcement. IMO, the...

Took me some time to read and digest the announcement.

IMO, the timing and sequence of events is worrying. On 31 Jul 2019, AB1 basically inflated their revenue and operating cash flow mostly due to "reclassifications". Subsequently a week later on 8 Aug 2019, AB1 made an announcement to acquire to do a capital raise and to acquire Quidd.

I am also appalled that Grant Thornton, have had to refer to "accounting literature on financial instruments and revenue recognition" produced by EY, a competitor firm. This means that Grant Thornton, being an internationally recognised accounting firm, does not have its own expertise to deal with complex accounting matters. Perhaps the management should probably look at changing its auditor to a more competent 1, considering how AB1 has grown so quickly.