The most likely scenario is that Petar used the SLJB money for other projects and the AFs look lousy. He would stand a chance of instantly incriminating himself if he released them.
IMO Petar isn't used to running a company for others. He isn't organized, and didn't realize the consequences of his actions.
Now he has to answer to shareholders for missing cash. We're expecting about $15 million net right? What happens if he used $8 million to fund some of his personal projects? Then he can't put out AFs because that deficit would show up. So then he delays and tries to cover it up. It goes back and forth to the middle east several times, and never gets any better. So the deadline is missed and the attorneys tell him to keep quite.
This is the most likely scenario.
Petar needs to get the money back somehow, have the audits done again, file, and then resign. This will all go away if he takes that action right now.
All just a guess of course and JMHO. Don't buy or sell based on my opinions.
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