DUB 5.88% 1.6¢ dubber corporation limited

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

  1. 4,236 Posts.
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    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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