Melbourne-based Web developer CBD Online has been forced to provide further information on the financial status of the company, following action by the Australian Securities and Investment Commission (ASIC) and the Australian Stock Exchange (ASX).
CBD Online recently announced a loss of AU$22.5 million. It was mostly attributed to the collapse of subsidiary Halescom Limited, which went into voluntary administration in April.
The action by ASIC and ASX addressed concerns that following the lodgement of the first quarter financial statements in March, the company had not been keeping the market fully informed of its current status.
CBD Online was not intending to disclose the extent of its loss for the financial year until after a full accounting review had been completed, the company said in a statement.
the irritating ad in the middle of this article made it very hard to read. With such abuse you leave me no choice but to turn AdSubstract back on and continue to tell and email everyone I know about how they too can filter out such distracting rubbish.
Such rude intrusions are destroying the effectivness of advertising and will certainly choke any revenue stream you are hoping to develop.