Niocorp Developments Ltd (NB)

[Rader1977]

BDO has a history of screwing up NioCorp's financial statements. It's no surprise they quit before they could be fired.

Oct. 22, 2022: NioCorp Announces Restatement of Previously Issued Financial Statements

NioCorp Developments Ltd. today announced that the Audit Committee of the Board of Directors of the Company, in consultation with the Company's management, concluded that the Company's previously issued consolidated financial statements as of and for the fiscal years ended June 30, 2022 and 2021 and the interim periods ended September 30, 2021, December 31, 2021 and March 31, 2022 contained an error related to the accounting for the unamortized deferred financing costs and debt discounts upon extinguishments of debt related to debt conversions. As a result of this error, the Audit Committee determined that the Company's consolidated financial statements for the Affected Periods should not be relied upon and should be restated by adjusting interest expense recognized in each of the Affected Periods.

The online consensus seems to be BDO is just a lousy company, plain and simple.

https://www.fishbowlapp.com/post/layoffs-at-bdo-if-you-are-interviewing-and-have-options-stay-clear

Sinking ship stay away

Those who know know BDO and those who know BDO know not to work at BDO.

This news appears to be positive for NioCorp.