Following the failure to file the 2020 Audited Financial Statements, Japaul Gold & Ventures Plc once again failed to file the unaudited financial statements for the first quarter of 2021.
According to the company formerly known as Japaul Oil and Maritime Services Plc, the first quarter delay was as a result of the pending 2020 audited financial statements which has not been finalised.
Therefore, the company could not file the 2021 first-quarter results due to the inconclusiveness of 2020 Audited Financial Statements.
Japaul Gold & Ventures apologises for the delay and requests the public/stakeholders/prospective investors to bear with the company.
The company, however, promised it is working hard to ensure that both 2020 Audited and 2021 Q1 Unaudited Financial Statements are filed as soon as possible.
Japaul Oil and Maritime Services Plc changed its name to Japaul Gold & Ventures Plc after years of struggle in the oil and maritime sector and immediately announced it was investing in a Chinese-owned H&H Mines Limited and shift its attention to mining.
The announcement bolstered the company’s shares by over 100 percent before a series of reports analysing the likely challenges the company will face in closing the deal given the pandemic and the fact that it needs to raise the necessary funds for the deal from the debt market.
Japaul’s share plunged shortly after. Up until now, nothing has been heard of the said deal rather the company continues to struggle with audited financial statements of 2020 and even the first quarter of 2021.