Hi OrmondI emailed them re the lateness and suspension and was...

Hi Ormond
I emailed them re the lateness and suspension and was surprised to get a personal phone call back from someone who I think was the Finance Director. Apparently a number of shareholders had the same request for info.
The explanation was: auditor had a heart attack (he didn't say it was caused by the accounts!)and taking time for the new one to pick up the threads; complexity of accounts (convertible debt, FX over many countries etc) and requirements of being a plc in UK. He rejected my wondering if the delay was related to problems with the accounts getting passed the auditor.
All that aside, 10 weeks and still no accounts audited for such a small business is unacceptable and I was left with the feeling that the company resources for accounts at least are inadequate for the business they are in. ie Need to simplify the business as the other option of adding more overheads to such a tiddler company isn't realistic.
He did say the results would be out by last Thursday. So credibility takes another hit by not meeting that date.

There's enough possible bluesky ahead for me to hold. The presentation some months back was very positive. Just need the reality to match the sales pitch!