DUB 7.50% 3.7¢ dubber corporation limited

Disappointing situation for holders, hope they can save this,...

  1. 4,168 Posts.
    lightbulb Created with Sketch. 454
    Disappointing situation for holders, hope they can save this, but needs a total cleanout of Board / Management.
    It's not like this couldn't have been spotted either, I was raising the Trade Receivables issue back in 2020.
    https://hotcopper.com.au/threads/ann-quarterly-update-appendix-4c.5370406/#post-44345128

    I walked away without any confidence in the Board / Management and haven't followed this closely since.
    But it's no surprise to see the Term Deposit was recognised as a Trade Receivable in the last Annual Report.
    https://hotcopper.com.au/data/attachments/6011/6011271-342f9c109bbe5abd8510749de34221f7.jpg

    Did the auditors not find it odd that there was no interest recognised as revenue with $30m in term deposit?
    I can't spot any in the Revenue note in the Annual Report.
    https://hotcopper.com.au/data/attachments/6011/6011267-7183e2ad877a15dc4d1a95f4b1fba162.jpg
    The TD was recognised two years in a year (2022 / 2023) in the annual report, so you should receive interest at least annually.

    Anyway, hope they can save something here for holders.

 
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