Not a good news day, as you say.
What is going on? Vague wording. Sort of shifts the blame onto the auditors, without saying when GCN provided the auditors with the final financial report. Or did the auditors shout "OMG!!!" when they set eyes on the final financial report?
GCN is linked to the Sino stable.
ASX suspended Sino Strategic International (SSI) on 2nd August 2010, because it hadn't lodged its quarterly on time.
SSI has still not got its accounting act together, so is still suspended. Shareholders locked out of their funds for over two years. Here's hoping the directors of GCN have learned something from that sad and ongoing episode.
Ann: Suspension from Official Quotation , page-13
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