Hello radioactivewhale and others,The preliminary figures are...

Hello radioactivewhale and others,

The preliminary figures are now out and already posters are jumping to conclusions.

As has been consistently said here Cbox was a wholly owned subsidiary of Mot and as such will have its own audited figures in about one month.It is very easy to apportion losses without foundation to an entity that is unable to answer because it has been gagged by suddenly "selling" it off.I will again tell all posters, Cbox as an entity did not make a loss in the financial year ended 30th June 2011.Whilst it had issues with new legislation etc, which, in short term periods did effect revenue at no time was Cbox running at a loss. In a group appraisal it is very easy to transfer income from an entity to another whilst leaving all costs on the expenditure side.Creative accounting practices within a group can highlight any aspect that is chosen to bear the brunt of a "loss".
Cbox is currently operating under private ownership and is showing vibrant returns with bottom line profits despite assuming responsibilty for liabilities that were not of its own doing.
We must all remember that Cbox accounts were profitable until they were taken out of the control of the operators and were placed into the hands of others. Suddenly we have Cbox making losses with ambit claims of "mistakes" going back 2 years. I don't think so.
Whilst you are entitled to an opinion RAW, I would suggest that you do your research instead of saying "by the looks of it". Even a loss of $134,000 out of $1.9m hardly classifies as a disaster.


Cheers


Silver


IMO DYOR