Replies to post #20661 on Plandai Biotechnology Inc (PLPL)

[Kool Aid Man]

"Gonna git an audit" announcements are a dime a dozen. Along with "we're signing an LOI, MOU, acquiring XYZ corp, issuing dividends, planning share structure reduction etc.

Check pages 18, 19, 22 and F-3 0f this SEC report regarding this companies promises of audits dating back to 2011 and 2012. There was an auditor report posted exactly 10 years ago. The CPA conducted it found that Plandai Biotechnology, Inc. had

The Company has incurred a $3.7 million loss from operations and consumed $700,000 of cash due to its operating activities. The Company may not have adequate readily available resources to fund operations through June 30, 2013. https://www.sec.gov/Archives/edgar/data/1317880/000126246312000394/plpl_form10k6302012.htm

On

Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.

(a) On April 25, 2016, the Company’s Board of Directors concluded that the Company’s previously issued financial statements for fiscal year ended June 30, 2014, audited by Mr. Terry Johnson, should no longer be relied upon. On October 6, 2015, the Commission notified the Company that it permanently suspended Mr. Johnson from practicing as an accountant on behalf of any publicly traded company, or other entity regulated by the SEC. The Company filed Form 8-K disclosing this fact on October 6, 2015. Thereafter, the Company reviewed Mr. Johnson’s audit work for the fiscal year ended June 30, 2014 and concluded that the previously issued financial statements audited by Mr. Johnson for the year ended June 30, 2014 should not be relied upon. The Company is currently in the process of having its financial statements for 2014 re-audited along with its financial statements for the fiscal year ended June 30, 2015.
https://sec.report/Document/0001262463-16-000968/

On August 10, 2018 (4 years ago) this happened between 2015 thru 2015--

SEC Charges Biotechnology Company, and CEO with IIIegal Sales of Stock and a Misleading Public Company Filing
https://www.sec.gov/litigation/litreleases/2018/lr24232.htm

Audits often unearth all sorts of skeletons. Whichever entity does this latest audit the other party better get a 2nd opinion or risk being blindsided.