Graphene Nano Share Discussion Threads

[1sillydoris] 30/6/2016 15:49

Delay due to mountains of paperwork regarding the refinancing said sources familiar . . .

But between you and me 😉 - - - - Leedskier has been on the hotline to his buddy's in Malaysia . . . Allegedly. . .

[via con] 30/6/2016 14:06

@meadow50, thank you for your support, as I feel I´ve walked through the looking glass when reading the posts on here.

I just wonder how many more self inflicted wounds the directors are prepared , or is that unprepared, to make.

[meadow50] 30/6/2016 13:22

via con
My working life was spent as Chief Accountant /Company Secretary in the commodities business.I aGREE WITH YOUR POST COMPLETELY.

[via con] 30/6/2016 13:09

Leedskier,

I agree with you that the company had to sort out its financing but that should have no bearing on last year´s trading. Let´s be fair all the figures they needed to produce the report they had already. The going concern arguement is a valid point, but nevertheless that should not have impeded them in producing a provisional report which could have been modified and added to once the refinancing was in place.

But it seems they didn´t pre prepare a report and that you think that two and a half months is not enough time to prepare the report, and that this suspension is quite acceptable. All of which I contend is Not acceptable and further harms GRPH´s already tarnished reputation.

If the BOD wants to treat the company as if it were their own private venture then they should consider taking it private and avoid these "onerous" regulations such as producing a year end report by the alotted time and the need to have a fully functioning relationship with its only NOMAD.

But obviously I am the only one here that believes this suspension could have been avoided and that the BOD are culpably negligent in their obligations to its shareholders.

[leedskier] 30/6/2016 11:54

The economic and political turmoil that thecWorld had faced and will face as a result of Brexit, is without parallel in peace time.

The movements in currencies and commodity prices has driven many commofitu companies into bankruptcy or at the very least restructuring.

The question now is which will survive and prosper. One pays one's money and makes one's choice.

I stop reading most ADVFN BB because everyone carries the same message. British investors do not really understand just how bad it has been in commodities for the last three years or do.

[leedskier] 30/6/2016 11:41

You mean that in January the Company should have asked the auditors to prepare two annual reports:

One on the basis of no refinancing agreement, which would have to conclude that the company was not a going concern,

And a second on the basis of refinancing agreement and therefore was solvent?

That is nonsense. The company had to sort out its banking arrangements first.

[leedskier] 30/6/2016 10:53

Add to that list XTR simply on forecasts at the AGM.

[leedskier] 30/6/2016 10:49

The trend this week and today including BEM, HAWK and XEL, is that $ commodity Aim shares are rising on any sniff of good news.

Given that Article 50 will be triggered at some point, that trend could continue for quite a while.

[2350220] 30/6/2016 10:38

Unfortunately I've had several AIM shares over the years, that have been late reporting, and each time the share price has suffered.
I really hope that this time it's different.

John

[marketeer4] 30/6/2016 08:11

A good sign showing strong efforts of putting the house in order.
I look forward to the next RNS lifting its suspension but I expect a different share price on opening to its closing price on 28th June. Which way though will be speculation.

[leedskier] 30/6/2016 04:14

The RNS posting the news about the re-financing agreements with the company's bankers was dated 11 April 2016.

If one treats that as the green flag for the audit to commence, then it can be seen that including the start date and today's date, that just 81 days has elapsed, including weekends and two May bank holidays.

Given the thorough nature of these audits, and the probable need for clarification of any issues arising from that audit, I guess it was always going to be tight.

As one poster noted a couple of weeks or so ago, the company was actively recruiting someone to assist with accounting. One can understand why.


Senior Finance Executive
Responsibilities:
Responsible for daily finance operations/accounting functions

Preparation of monthly full set of accounts, financial and management reports (Cash Flow, Balance Sheet, Profit and Loss etc) to specific deadlines

Prepare annual budget and review

Ensure accuracy of the trial balance and general ledger, including keeping accurate records of fixed assets, accounts payable, inventory and bank accounts

Ensure smooth and efficient running of accounting procedures and system

Monitor all matters in relation to intercompany transaction

Handle tax matters including GST implementation and submission

Liaison with external auditors, tax agents, financial institutions

Requirements:
Bachelor Degree/Diploma/Certificate in Accountancy or equivalent

Minimum 4 years of total working experience in relevant field of finance including consolidation of accounts

Proficient in MS Office application including Excel, Power Point (Knowledge of AX Dynamic System is an added advantage)

Proficient in written and oral English

Excellent communication skills

Ability to work well under pressure, working accurately with attention to detail and meeting deadlines

Ability to be flexible

[leedskier] 30/6/2016 03:59

For 07:30 Release

29 June 2016


Graphene NanoChem PLC

("Graphene NanoChem" or the "Group")



Statement re. Suspension



Graphene NanoChem (AIM:GRPH), the international provider of nanotechnology performance enhancing solutions for global industries, announces that, the Company will not be in a position to publish its annual audited accounts for the year ended 31 December 2015 by 30 June 2016 in accordance with the AIM Rules for Companies.



Consequently, the Company's shares will be suspended from trading with effect from 7.30 a.m. today until such time as the annual report is published.



Further announcements will be made as appropriate, however it is expected that the annual report will be published during July.

[madmick] 29/6/2016 19:03

" however it is expected that the annual report will be published during July."
at least that sounds hopeful!

[argyle underclap] 29/6/2016 18:43

suspended, i hope for your sakes it is indeed only temporary.

These hav been on my watch list for quite a while now