AB International Group Corp (ABQQ)

[mustang656]

If they didn’t report revenues for any of the consolidated entities in their earnings release that is fraud. They would need a note explaining that revenues were not recognized and the reason why. In note 14 they have not disclosed any material subsequent events. The most disturbing note to me is item 4 where there talk to their “disclosure controls and procedures were not effective due to the presence of material weaknesses in internal control over financial reporting.” And that “as of February 29, 2024, our disclosure controls and procedures were not effective: (i) inadequate segregation of duties and effective risk assessment; and (ii) insufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of both US GAAP and SEC guidelines.” They further state they are working to correct the problem. So basically you can’t trust a damn thing in these statements???? They need to say what’s up. Period