The Auditors Report to 30 June 2019 will be a critical moment...

The Auditors Report to 30 June 2019 will be a critical moment for Oliver's.

The Auditors will be aware of the cash run out @ Oliver's and that the 21,770 million dollars Shareholders pumped in has gone and the company is on life support from the up to $500,000 loan from Jason Gunn. The Auditors will not want to be caught up in any legal action should Oliver's go into receivership (if that was ever the case) and therefore they will do due diligence very carefully in my opinion.

The check list will include below items and there will be more:
1. Has Oliver's paid all it's creditors in full. to 30 June 2019.
2. Has Oliver's paid all tax obligations to the tax department. Tax on staff wages, Staff Superannuation, G.S.T Tax.
3. What are the written terms of the loan from Jason Gunn and when is the re-payment due on the loan and is interest being paid in accordance with the written terms of the loan.
4. When is the Bank loan of $1 million dollars due and how is it going to be re-paid or extended.
5. How are the closed stores leases impacting on the profitability going forward?? Rent, Rates, Insurances
6. The Auditors will probably offer an opinion on how they view the financial prospects of Oliver's going forward.

The Director's of Oliver's face heavy penalties (including potential jail time) if they trade Oliver's while it is insolvent. This means all creditors must be paid in full and on time and if they cannot then Oliver's Director's must advise authorities immediately.

I personally would not like to be a shareholder at this present time.