Essentially the different opinion in question is the way the performance shares in the company have been treated historically. The previous auditor had the view that the company did not expense these accordingly and hence reported profits have been inflated. Keep in mind that has no impact on the cash flows as share based payments expensed is a non cash item in the P&L. Management disagreed with this view and so sought advice from a new auditor which was in agreement with them. Therefore they went out to tender a new auditor which they now have. The results next week will once and for all clarify the matter in the accounts and will remove any uncertainty there. Keep in mind that with a new auditor there is a risk that some skeletons will be unveiled in the accounts. We will all find out soon.....
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
---|---|---|
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Price($) | Vol. | No. |
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3 | 214069 | 0.205 |
1 | 50000 | 0.200 |
1 | 26315 | 0.190 |
2 | 151351 | 0.185 |
3 | 90611 | 0.180 |
Price($) | Vol. | No. |
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0.215 | 81451 | 1 |
0.220 | 45000 | 1 |
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