pendo, page-18

http://www.smh.com.au/business/hasties-collapse-to-hit-banks-20120527-1zd1a.html

"The corporate regulator is now assessing claims that a $20 million 'accounting irregularity' is in the books of one of Hastie's Queensland divisions. Discovery of that $20 million black hole scuttled a refinancing deal with the banks."


"In the wake of Hastie's $150 million December-half loss, and a share price that has plunged from $2.17 to just 16¢ in the past year, that accounting irregularity is worth almost as much as Hastie's entire $21 million market capitalisation".


Read more: http://www.smh.com.au/business/hasties-collapse-to-hit-banks-20120527-1zd1a.html#ixzz1w4wrjl5C