no one left, page-36

beerzy, LAR not playing ball?

I can see at least one LAR problem worth $1,638,685.00 in CTR's 2014 accounts, page 55.

A conversation might have gone something like this -

Auditor - Hey guy's, LAR's got $1,638,685.00 in the bank, got any proof?
CTR - yer, they told us it's there.
Auditor - Got a bank statement?
CTR - ummmmm, no.
Auditor - Can you get one.
CTR - ummmmmm, yes.
Auditor - Email them and ask them for a copy, it's easy.
CTR - LAR, we need a copy of all bank statements.
LAR -
CTR - Please.
LAR -
Auditor - did you get a copy of the statements.
CTR - ummmmm no.
Auditor - why not?
CTR - errrrrrrrrrr don't know, but it does exist, we calculated it, so we included it.
Auditor - OK, but we will have to make a note of it.
CTR - That's ok, who reads that stuff anyway?

The above conversation is hypothetical.


I can see a $1,638,685.00 problem with LAR at 30-June-2014
How hard is it to verify the $1,638,685.00?
If you take $1,638,685.00 cash out of CTR's bottom line....... it looks even worse.
If the auditors cannot verify the cash LAR supposedly has then there is a problem. How many more problems could exist?

Some one's not "playing ball"
CTR or LAR?

RRS -
On 02-Feb-2015 RRS get their 200m shares and announced it on 04-Feb-2015 (I still think they are a non refundable deposit) Two days later 11men sells the whole lot (06-Feb-2015) and announced it on 10-Feb-2015.

11men selling out = Coincidence or vote of confidence in the RRS deal?