Zappa 0 Posted September 27, 2013 Share Posted September 27, 2013 On Thursday 8th August, they told a large room full of fans that the accounts were due mid September, but they were going to try to have them out by the end of August. That was over 7 weeks ago. The end of August has passed and mid September has passed. We're now at the end of September and supposedly being told they'll be out by 10th October which just happens to be the last possible date for them before a 31st October AGM? Is it just because it's a Friday that something smells fishy? 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted September 27, 2013 Share Posted September 27, 2013 Apart from Murray who has put their name forward to replace the present Board? I haven't seen any names since Blin dropped out. names will have to be put forward soon. 0 Quote Link to post Share on other sites More sharing options...
bossy 0 Posted September 27, 2013 Share Posted September 27, 2013 On Thursday 8th August, they told a large room full of fans that the accounts were due mid September, but they were going to try to have them out by the end of August. That was over 7 weeks ago. The end of August has passed and mid September has passed. We're now at the end of September and supposedly being told they'll be out by 10th October which just happens to be the last possible date for them before a 31st October AGM? Is it just because it's a Friday that something smells fishy? A lot of people seem to be awaiting these accounts as if they are akin to the second coming. I don't think they will reveal much in the way of dirty dealing or other forms of 'spivery' even if they exist. What they will tell us is how much cash we have burned through, how much is left and whether we are going to need to raise more cash either by a share issue or an asset sale. The good news, of course, is that we are unlikely to have much if any debt ... mainly because nobody will lend to us. So, in that respect, our balance sheet will probably look better than most other clubs in Scotland. But a pretty balance sheet will not stop us going under if we run out of cash and cannot get any more. So, more important than the numbers ... are we a going concern? Does the Board have access to sufficient funds to see out the season? Where will future revenue come from? Are revenue projections credible? Get answers to those questions and we will at least have some clarity as to what the future holds. 0 Quote Link to post Share on other sites More sharing options...
bossy 0 Posted September 27, 2013 Share Posted September 27, 2013 names will have to be put forward soon. I know that the McColl team have been looking at CVs. However, I don't know where they stand with actually doing something about it. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted September 27, 2013 Share Posted September 27, 2013 A lot of people seem to be awaiting these accounts as if they are akin to the second coming. I don't think they will reveal much in the way of dirty dealing or other forms of 'spivery' even if they exist. What they will tell us is how much cash we have burned through, how much is left and whether we are going to need to raise more cash either by a share issue or an asset sale. The good news, of course, is that we are unlikely to have much if any debt ... mainly because nobody will lend to us. So, in that respect, our balance sheet will probably look better than most other clubs in Scotland. But a pretty balance sheet will not stop us going under if we run out of cash and cannot get any more. So, more important than the numbers ... are we a going concern? Does the Board have access to sufficient funds to see out the season? Where will future revenue come from? Are revenue projections credible? Get answers to those questions and we will at least have some clarity as to what the future holds. The accounts won't tell us everything we want to know, not by a long shot and the section I put in bold is still going to be a big question mark as well because the accounts will only detail the period until the end of June leaving the finances from the start of July till now down to a guessing game. As always, I think we'll end up with more questions than answers. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted September 27, 2013 Share Posted September 27, 2013 I know that the McColl team have been looking at CVs. However, I don't know where they stand with actually doing something about it. Is that an inspired guess? I would be worried if they were still looking. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted September 27, 2013 Share Posted September 27, 2013 I know that the McColl team have been looking at CVs. However, I don't know where they stand with actually doing something about it. directors who actually have to qualify for the position. how novel. 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted September 27, 2013 Share Posted September 27, 2013 Anybody at the meeting tonight ? 0 Quote Link to post Share on other sites More sharing options...
BEARGER 1,829 Posted September 27, 2013 Share Posted September 27, 2013 https://m.facebook.com/SonsOfStruth/posts/1395598260671298 0 Quote Link to post Share on other sites More sharing options...
BEARGER 1,829 Posted September 27, 2013 Share Posted September 27, 2013 Leaflet volunteers to stairs behind edmiston house twelve o'clock please 0 Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.