The report by Peter Skene was a piece of crap and nothing to give any shareholders confidence in BOD. He is overpaid and will have to be on the get rid list when the new Board comes in.
The financials fail to give breakdowns in the big ticket items in expenses. In note 3(ii) Dairy related cost, when you have an amount of $1.58M listed as other dairy related cost and it amounts to 2 and explanations on the significant increase . Similarly in (iii) Other dairy processing costs ,where 2017 is $1.14M and the previous year was $122K an explanation should be give for the rise.
Auditors should have requested explanations and if satisfied that such expenses are justified then they can sign off. Not convinced that the auditors have done what they should have done. I will study the financial report and determine if there are other matters that need clarification or explanations. Not at all happy.
AHF Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
