As if investors don't have enough to do with respect to interpreting financial statements, it would seem in some cases they have to verify them as well. Small-cap company GLG Corp (GLE) recently released results that don't add up...literally!
Great catch by Bristlemouth, who noted that the items in the company's cash flow statement do not add up to what the company claimed. The individual cash flow line items suggested an operating cash outflow on the order of $40 million, while the company's statement claimed positive operating cash inflow of $12 million!
Might be a simple mistake, but certainly a reminder for shareholders to stay on their toes!
Disclosure: No position
2021 Week 8 investing and trading report
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February 2021 is gone and our investing and trading report can be closed in
the books. February was a good month despite the market selling off the
last ...
4 hours ago
