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Accumuli
- BY: Andrew Hore |
- POSTED: 29/09/2011 |
Computer security services provider Accumuli has discovered financial anomalies in the accounts of Boxing Orange, which was acquired in April.
Management says these problems will not have any significant impact on trading and there will be no net financial loss.
Liabilities were understated in the Boxing Orange balance sheet and its financial controller has been dismissed. There is a police investigation.
The £500,000 understatement of liabilities will lead to an adjustment of goodwill in the Accumuli accounts.
At 7.75p a share, Accumuli is valued at £11m. Part-time executive director Ian Smith has acquired 100,000 shares at 7.75p each. He owns 9.52% of the company.
Download the September 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFSeptember2011_24.pdf
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