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HII 8.0¢


  1. saxien

    2,794 Posts.

    Anyone think this may go down like a lead balloon, new accountant needed maybe,???, just how many more little surprises like this will the market take??,

    Hire Intelligence International Limited (the "Company") wishes to
    announce that it has become aware today of an accounting adjustment
    in cash balances that was incorrectly omitted from its most recent
    management accounts.

    The error arose from an intra-group transfer and resulted in an
    overstatement of the Group's cash balances by approximately $255,000.
    Accordingly, the Company's announcement of 17 June inadvertently
    overstated the Group's cash reserves by $255,000. Cash reserves as of
    close of business yesterday were approximately $903,000. On 29 April
    2002 the Company announced that it had cash reserves of $971,000 as
    at 31 March 2002; accordingly the Company will not be cash flow
    positive for the quarter ended 30 June 2002.

    The Company wishes to stress that this is a cash flow reporting issue
    only and does not affect prior ASX announcements of anticipated
    profit levels.

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