your dreaming we got played. The lemon sky accusation was like a...

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Neverlookback

588 Posts.

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11/06/25

21:43

Post #: 79397967
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Originally posted by FingerLicking: ↑

i'm disgusted, livid & sad that yet another publicly listed company is connected to fraud.

it's effing bleak that this happened!

i'm trying to understand the facts & keeping a cool head is difficult, but i'm leaning towards the company will definitely survive this; probably even come out of this disaster stronger (if Kin Dog is the leader i think he can be)

as others have pointed out, the potential misconduct is by "an external consultant" & appears to be related to the lodgement of fake GST refunds apparently filed without the company's knowledge or authorisation:

"- iCandy has identified potential improper conduct by an external financial consultant.
- Allegations involve misuse of company bank accounts for fraudulent GST refunds from the Australian Taxation Office.
- The company has terminated the consultant's engagement and appointed a corporate governance advisory firm.
- Hamilton Locke has been appointed as legal counsel for potential recovery actions.
- The internal audit may delay the release of audited financial statements beyond 31 March 2025.
- There is currently no impact on iCandy's operational viability or solvency."

such fraud sounds like it would have led to the company's financial reports showing increased (fake) costs, adversely affecting positive cash flows & cash balance. therefore it seems far from the end for the company as its financial position & trajectory was already decent, but now when restated without any fake expenses could be better than reported? (on the other hand, in the worst case scenario, the company could be held liable to refund any fraudulently filed GST-refunds to the ATO, pay fines, court costs etc, or maybe the company's liability/indemnification insurance could cover that...)

in conclusion: hopefully the company/shareholders can recover all costs related to this mess & sue those responsible for any losses we suffer. also Kin Dog should take ultimate responsibility & be held accountable

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your dreaming we got played. The lemon sky accusation was like a wow. My kids have watch there movies.
This is a pure profit for the directors of different businesses.
interesting they brought out Lemon sky just b4 the AI boom.
Lucky I only lost 5 k I was neglect. DDDDDDDD

Last edited by Neverlookback: 11/06/25

ICI Price at posting: 1.6¢ Sentiment: None Disclosure: Held
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