Monday 21st March 2016 |
Text too small? |
Snakk Media, the NXT-listed mobile advertising company, says it has become the victim of an online scam that could cost as much as $215,000.
In a statement to the NZX, Snakk said the loss won't affect its ongoing operations or its investment plans for 2017. It says the company has more than $3 million in available cash reserves. Its auditor, Staples Rodway, is to investigate what happened and the company's ability to recover the funds.
Snakk says its bank is pursuing the bank which received the funds and the activity has been logged with its fraud unit. Details on whether management feel the money can be recovered will be given after it's received the auditor's report and the banks have investigated the matter. Meanwhile the company says its controls have been improved and Staples Rodway have also been asked to review the company's procedures and monitoring activities.
The shares were unchanged at 70 cents, and have fallen 40 percent on a year ago. It listed on the NZAX in 2013, before switching to the NXT market last year.
BusinessDesk.co.nz
No comments yet
NZAS Sign Long Term Contracts
Amended - IFT230 Maturity and Exchange for IFT350
Synlait forecast milk price update
Chorus submits 2023 fibre regulatory report
Infratil Infrastructure Bond Exchange Offer opens
May 31st Morning Report
NZAS and Mercury sign long-term agreement, creating opportunity for future investment in renewables
Meridian and NZAS sign long term contracts
ArborGen Holdings Results for Year Ended 31 March 2024
BAI - Full unaudited results to 31 March 2024