Greenfern

[SailorRob]

I saw a post come up on the sharesies site about greenfern. Someone calling sharesies out for promoting a scam. It was gone the next day 🤔

Was that on their Facebook account?

[shareman]

I saw it too, I think Sharesies took it down, it was on their facebook site

[Dlownz]

Was that on their Facebook account?

Yeah
Was it you 😂

[SailorRob]

Yeah
Was it you 😂

No, but I will do something more formal once I get off the water. Been gone a Month...

[shareman]

SailorRob, your prediction of an implosion is becoming reality,

As I say, lurching from one disaster to the next

Restated accounts and director resignations yesterday:

"GFI advises that since the release of its unaudited full year results to 31
March 2023 on 30 May 2023, in the course of the audit process it received a
suggestion from its Auditors that it reconsider the accounting treatment of
payments and receipts in relation to its contract with Cannvalate Pty Ltd.
This relates to a change in GFI's application of the agent/principal
judgement policies under NZIFRS 15.

This change will have a material impact on the revenue results as previously
announced. However there is no material change in the overall result for the year."

[shareman]

Here is the reply from the NZXs Head of Market Conduct after I raised concerns about the retrospective accounts:

"Thank you for your email.



I have reviewed the announcement that you have referred to. By way of background, I note that a change of accounting policy does not trigger an express reporting requirement under the NZX Listing Rules, and the apparent effect of the changed policy does not appear to have had a material effect on GFI’s restated earnings for the year ended 31 March 2022 or the unaudited results for the year ended 31 March 2023.



On this basis it does not appear that there is an issue under the NZX Listing Rules to take forward, but we thank you for bringing this matter to our attention."

The NZX is a part of this fraud

[SailorRob]

Here is the reply from the NZXs Head of Market Conduct after I raised concerns about the retrospective accounts:

"Thank you for your email.



I have reviewed the announcement that you have referred to. By way of background, I note that a change of accounting policy does not trigger an express reporting requirement under the NZX Listing Rules, and the apparent effect of the changed policy does not appear to have had a material effect on GFI’s restated earnings for the year ended 31 March 2022 or the unaudited results for the year ended 31 March 2023.



On this basis it does not appear that there is an issue under the NZX Listing Rules to take forward, but we thank you for bringing this matter to our attention."

The NZX is a part of this fraud

Yeah that's nuts.

All these companies have is revenue and only a tiny bit at that. So a material change in revenue is a very big deal.

Of course it wont affect earnings when there are none.

Just watch the video of the NZX CEO shilling it and you will know all you need to know.

[shareman]

Yes SailorRob, as I suspected, the investment in Sustainable Foods has been written off:

"Shares - Sustainable Foods Limited
The Group owns 1.87% in Sustainable Foods Limited, an unlisted related party company. The GFI Management considered the
fair value of the underlying assets and liabilities of Sustainable Foods Limited and estimated that the fair value of the investment
diminished to $0 as at 31 March 2023"

They couldn't have stuffed it up better if they tried

[shareman]

One disaster to another, now the "power station" has broken down again:

https://announcements.nzx.com/detail/415533

[SailorRob]

One disaster to another:

https://announcements.nzx.com/detail/415533

I'm currently in discussion with a major Business publisher to expose them, hopefully will have something together soon.