OESL (Quals (Loan due on acquisition, Going concern. , Private company.…
Loan due on acquisition
Private company. CCPC lost
focus on manufacturing. Hit the most by the downturn
Largest competitor. Able to control more market share
Weak IC bad impact on OESL
No backout as it hurts reputation
How to mitigate. Decrease sales price and keep a portion for unaccrued liabilities.
FS not audited
Customer directly contact tech
tech use carbon copy. Prone to error.
Assistant prepares inv to mail out
tech stock inv. Count inv.
No central Purchasing D. Clerk enter inv when time allows.
GW no value
AP may not be complete
Lost CCPC status. Cap loss expire. RDTOH and capital div loss.
Aggressive acquisition - Calgas No backout