CBD Energy (CBDE) Slammed; Reports Certain Financial Statements Should Not be Relied Upon [StreetInsider.com]
CBD ENERGY LTD ORDINARY SH (CBDE)
Company Research
Source: StreetInsider.com
CBD Energy (CBDE) Slammed; Reports CertainFinancial Statements Should Not be Relied UponOctober 24, 2014 10:14 AM EDTTweetSend to a FriendCBD Energy (NASDAQ:CBDE ) shares have gottenslammed early today after the company n a filing with the SEC onForm 6-K that the Company, through its Audit Committee, and inconcert with PricewaterhouseCoopers, its independent registeredpublic accounting firm, has determined that its audited FinancialStatements for the 2012 and 2013 Fiscal Years, and its unauditedinterim financial statements as of and for the six months endedDecember 31, 2013 (the "December Statements") cannot be reliedupon, and revisions are required.In the case of the audited financial statements for Fiscal Years2012 and 2013, the determination of non-reliance is related solelyto uncertainty about the completeness and accuracy of disclosureswith respect to related party transactions. It is anticipated thatrevisions will impact footnotes to the financial statements, andthat no material
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