Key takeaways from Geoff Morgan’s  Financial Post piece:

  1. Badger took 1.5 months to call a reporter back and then lied to him.
  2. BAD still has not answered the questions—even very simply, why are there 2 different sets of 2015 numbers? Which should we believe?
  3. BAD had “private meetings with shareholders,” the very definition of intentional selective disclosure, yet claims publically answering questions would “inadvertently have selective disclosure.”
  4. Disclosure has gotten worse, not better.
  5. The AUDITED NUMBERS cannot be relied upon.

Which is it? It can’t be both.Top 15 Books On Every Investment Professionals Reading List

Get The Timeless Reading eBook in PDF

Get the entire 10-part series on Timeless Reading in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.

BAD Accounting

Why is Badger claiming they are unaware of their own financial statements?

“Badger said they weren’t aware of discrepancies between 2015 and 2016 reports on items like cash flow from operating activities”

We made you aware 1.5 months ago.

Now answer the questions already.

No longer disclosing maintenance capex methodology is an example of worse disclosure, not better.

BAD Accounting

Blow the whistle!

  • This presentation and more will be shared with Alberta Securities Commission and other regulators

– If you have information you would like to share please email  [email protected] or click “Please submit here” on the left.

– All information will be kept confidential

– Follow or comment on Twitter @AlderLaneeggs

– Join us to support free speech and free markets!


About Us

Alder Lane Farm LLC publishes periodic, time sensitive, fact-based financial news and analysis to the public and its readers. Our reporting is designed to help the public interpret and understand publicly available information about the economic health of particular companies and their share value, and to understand the impact that a fuller disclosure of information may have on share prices. We publish when there are newsworthy items relevant to the companies analyzed.

We rely on public disclosures of the companies under review and other companies in the same or similar sectors. We also conduct interviews with employees, former employees, officers, and others associated with the companies we analyze, when possible. We review national and international news services, internet reporting, and social media and may rely on reporting by others to prepare our report. We discuss the companies with other analysts who may have positive or negative information and opinions about the companies under review and then analyze the information and opinions received to determine whether the information and opinions are based on available factual information or disclosures. We also may obtain information from, and rely on, information from sources who wish to remain confidential and whose information, but not identity, may be included in this report.

We welcome comments from the companies we review, from other newspapers or analysts, and from the public. We will publish corrections or explanations submitted if those are found to be based in fact and are credible. We conduct most of our analysis without active participation by, or with limited input from, the subject companies and thus we recognize that those companies may disagree with our conclusions or may believe there are facts that were not available to us when we published our report. We make efforts to obtain accurate and complete information in preparing this report. However, we do not warrant that the information and analysis is correct.

Comments or requests for corrections are therefore welcomed.

Any requests for corrections to this report should be directed to the publisher at PO Box 578, Pengrove, CA 94951. The request for correction should identify the statements challenged and a demand that the statements be corrected.

You should consider this report along with all other information and analysis that is available, as well as your own research. We are not responsible for any trading losses you believe may have been caused by your reliance on this report. It is not investment advice or a recommendation or solicitation to buy any securities. We are not registered as an investment advisor in any jurisdiction.

We take investment positions consistent with our own opinions in the companies we cover. If the report contains an overall negative assessment, then that means we stand to profit if the company’s stock declines. We may buy, sell, cover or otherwise change the form or substance of our position in the company and we do not publicly announce our investment decisions or changes in our investment positions.

Article by Turn Out The Badger Daylight

Save