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Hi K,
Yes, just saying there's no real reason to delay, being an accountant myself : )
Bing, that is exactly what will happen. Full year accounts will be published within stipulated timeframe. If at time of publishing the dispute is not resolved then the amount in dispute will be booked in a certain way and it will he clear to everyone what the exact amt in dispute is. This is standard practice , nothing to start another mass conspiracy over. It will either be resolved or for the world to see be clearly visible in the fully audited accounts. K
Wilson,
The company has done a reasonable job, but since January I think mistakes have been made. This is not the same proposition as it was last year. My first buy in was around 3.30, then it shot to £5 and you know the rest.
I have read this board nearly every day, and have a fair idea of what is going on. I still think there is a lot of upside here, but I think the risk is enormous now. Since we are having a genuine conversation, I personally can not see accounts being published in April. I do not think they can publish the accounts given where thy are, they are not just for share holders, but also for tax etc. They need to be correct, and there are unknowns currently.
Maybe they can publish some very good news in the mean time, but I don't see the accounts being published. Also if they are up to something, stalling the accounts will be a useful avenue to them.
They must have an idea of the value of dispute and make a provision in accounts.
I asked a while back if still being released this month, usually would get an answer, not now.
My own guess on timing noticed 15 May last year.
The circumstances of the legal dispute might push towards more time.
Accounting standards require contingent liabilities to have extensive explanation of their circumstances, potential impact and its estimated likelihood to enable a reader of the audited financial statements to have a true and fair view of performance including those issues that may be indeterminable. The auditors will need latest evidence corroborating views from lawyers.
Accounting standards apply a gradation of the likelihood of outcome that can be helpful for us and for management. For example a business might provide 100% of a contingency (or part of it) that is reasonably certain to crystalise, a percentage that is "probable" (eg if 50% probable might warrant 50% provision of exposure or a bit more), outcomes that are possible need to be mentioned along with those that exist but are not expected to result in an impact. It is helpful in disputes or claims that run & run for the issue to be stratified into component issues before making a big enough provision to be covered and make a clear statement of any issues that can not be determined.
All this disclosure is intended to prevent a cloud of uncertainty & mystery from hanging over a business like we have just now.
Darton fair point dyou not accept in all the time you've been invested the company has stuck to all timelines therefore a suspension a la SYME (not invested) is exceptionally unlikely?
Hydr31. Your intentions are clear.. you will not effect sentiment unless it is the boredom one.
Thanks Pebble, that's good to know thanks.
To the hardcore radicals: My average here was near to £10. I was invested here for over 12 months. Just didn't post much.
If I choose to make a quick few % back of my losses that's my choice, and I'm sure ill be out around 4.40 this week or next.
So doesn't conflict with the suspension at all. Just interested.
Its a sign of a bad share when you cant have a sensible discussion on the chat board.
If you think there are many people on here trying to drive the price down (in contrast to most of you who are just ramping it up and making this like Mumsnet) then you are very deluded. Its just a share, an investment or trading vehicle. nothing else.
Darton, they could apply for a 3 month extension for publishing.
It’s a traders paradise now. Every time it goes low they dive in sucking in a few more PI’s with them and then take their scalp. We need the downward trend to break.
Darton let me get this straight you've bought in for a quick trade in a company that you're suggesting may get suspended because a govt. yes dept is trying to renegade on a contract they agreed months ago? Top decision.
An AIM company must publish annual audited accounts which must be sent to its
shareholders without delay and in any event not later than six months after the end of the
financial year to which they relate.
So that's up to June the 30th to get this resolved. Sounds likely, but the DHSC could use this as leverage in any negotiation (or lack of)? They have effectively got 2 months to get this sorted, but by all means keep sticking your heads in the sand.
Suspended shares can eventually be delisted, but by all means, ignore anything negative posted on this board. its all an attempt to drive the share price down, although doesn't seem to need much help does it.
@ Dartron
Fit to Fly yet
Fly By Night by the sounds of it.
IMO They are unlikely to publish results until the DHSC position in relation to Q4 invoicing is confirmed or any possible exceptional charge is allotted or the position clarified.
Serious question, do you think there is a chance the shares could get suspended via failure to publish the accounts. Been stuck in 2 of those before, it does happen. If it did get suspended, it would give them another 6 months, by which time, they might unsuspend and go straight to a take over.
Bought back in yesterday BTW, didnt get 330, but happy with 370. No intention of being a long term holder this time.
In and out Lol.
DHSC have a number of contract disputes open. Appalling way to conduct business frankly.
IMO They are unlikely to publish results until the DHSC position in relation to Q4 invoicing is confirmed or any possible exceptional charge is allotted or the position clarified.
Frankly, i still believe that the the matter will be resolved no change. I think this along with many other disputes they are currently involved in is all about the DHSC going mad over-ordering at the start of the pandemic, agreeing minimum orders, businesses going hell for leather to meet these orders and then for DHSC to try and wiggle out of bloody paying on a try on!!!! As I say, not all business is good business.
Last year Final Audited Results were published on the 15th May, they could come early but i would work on that date. It should give us a well earned boost with the position fully clarified one way or another.
Anyhow, that's the historic its all about the future now. Cracking Q1 results 83m already, very confident of Q2 with the volumes of activity going on. No wonder they still need more staff.
GLA
Maybe results tomorrow