Each one in plain English, with the numbers worked through for a shareholder.
22 Apr 2003auditor change● Neutral
Amends the April 2003 auditor-change report (filed under the company's earlier name, Synergy Technologies Corporation). KPMG stopped serving as auditor on 11 April 2003 because the company no longer conducts any operations in Canada. On 8 April 2003 Geoffrey Albers, who is seeking to acquire a controlling interest once the bankruptcy court confirms a Plan of Reorganization, engaged Demetrius & Company as auditor for 2002 and the 2003 quarters. KPMG's reports for 2000 and 2001 carried a going-concern modification but no disagreements or reportable events. KPMG's confirming letter had not yet been filed (to come by amendment). This continues the April 2003 thread: Albers's takeover through bankruptcy is still pending, not completed.
KPMG resigned with immediate effect because the company no longer had any Canadian operations left, and the replacement auditor was engaged not by the board but by Geoffrey Albers - an outsider buying control through a plan of reorganization then before the US bankruptcy court. The company is in bankruptcy, and this is the first appearance of the man who takes it over and turns it into Australian Oil & Gas.
Centennial Energy Partners, L.P, Tercentennial Energy Partners, L.P, Quadrennial Partners, L.P, Centennial Energy Partners, L.L.C, Peter K. Seldin disclosed a new substantial AUSTRALIAN OIL & GAS CORP shareholding (10.61% of votes).
Centennial Energy Partners, L.P, Tercentennial Energy Partners, L.P, Quadrennial Partners, L.P, Centennial Energy Partners, L.L.C, Peter K. Seldin disclosed a new substantial AUSTRALIAN OIL & GAS CORP shareholding (10.31% of votes).
Centennial Energy Partners, L.P, Tercentennial Energy Partners, L.P, Quadrennial Partners, L.P, Centennial Energy Partners, L.L.C, Peter K. Seldin disclosed a new substantial AUSTRALIAN OIL & GAS CORP shareholding (8.78% of votes).
Under its former identity as Synergy Technologies Corporation of Colorado, the company dismissed auditor Hansen, Barnett & Maxwell, whose reports on both 1998 and 1999 had raised substantial doubt about its ability to continue as a going concern. No disagreement over the accounting - but the going-concern warning is the first recorded sign of the trouble ahead.
