maiden Posted April 11, 2012 Share Posted April 11, 2012 Hello every body,Spoke to ASIC today concerning the quarterly they said they would like an official complaint via their website so as they can investigate.Looks like its only an ASX requirement for the Quarterly.ASIC are only interested in half and yearly.So be patient could go on for quite a while they look for another rabbit to pull out of the hat. Link to comment Share on other sites More sharing options...
Livas1 Posted April 11, 2012 Share Posted April 11, 2012 Maiden the quarterly isnt late (yet). It is due by the end of April. Link to comment Share on other sites More sharing options...
maiden Posted April 11, 2012 Share Posted April 11, 2012 How stupid of me 2nd quarter!!! aka'' half'' Link to comment Share on other sites More sharing options...
bam_bamm Posted April 11, 2012 Share Posted April 11, 2012 Anyone seen the April edition of Mens Health magazine? Link to comment Share on other sites More sharing options...
jezzabot Posted April 16, 2012 Share Posted April 16, 2012 Anyone been past the office to see if they still exist? Link to comment Share on other sites More sharing options...
Ian Posted April 16, 2012 Share Posted April 16, 2012 Bam Bamm, Financials are completed. That is not where the delay is. My understanding is the auditors need to sign off and want clearer detail of SLA's future funding arrangements in order to sign SLA off as a going concern for the next year. I understand we can expect to hear further news by end April but I cannot guarantee that. Link to comment Share on other sites More sharing options...
plastic Posted April 16, 2012 Share Posted April 16, 2012 Then they should do what everyone else does. Fire the auditors and get some new ones who will do what they are paid to do. Or the auditors can do what every other auditor does, tag the accounts as at risk of failure. The auditors role is to audit not to demand, critique and regulate business plans. Perhaps the details of the industry wide pharma partnership are outlined in detail in the accounts and they have been told not to divulge to the market until their partner allows them to. Link to comment Share on other sites More sharing options...
anniedi Posted April 16, 2012 Share Posted April 16, 2012 I got the same answer 2 weeks ago I reckon they are waiting for the Govt funding in May Ray Link to comment Share on other sites More sharing options...
maiden Posted April 16, 2012 Share Posted April 16, 2012 What government funding???? I agree with plastic .If thats their excuse its a pretty lame one!!! Link to comment Share on other sites More sharing options...
kahuna1 Posted April 17, 2012 Share Posted April 17, 2012 Hi, The auditors role is to audit not to demand, critique and regulate business plans THIS is exactly the role of an auditor ... to sign off on a company. When as someone mentioned the delay is becasue the auditor will NOT sign off on the accounts due to the fact that he is unable to see funding .. My understanding is the auditors need to sign off and want clearer detail of SLA's future funding arrangements in order to sign SLA off as a going concern for the next year.., a requirement of any company is exactly that ESPECIALLY a listed company. Companies cannot and should not trade whilst insolvent and if the post below is correct this appears the problem. Both directors and the auditor themselves become liable in this instance if one signs off on a company which doesn't have funding or apparent means of funding. There are numerous cases of both auditors and directors themselves getting into serious trouble for this sort of problem. I of course do NOT know what the case is with this company and am just commenting on the the posts below. I suugest you google trading whilst insolvent and responsabilities for both directors and auditors then come back with an informed comment. Good luck Link to comment Share on other sites More sharing options...
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