JETCON Top 10 Shareholders as at September 30, 2019
JETCON Directors Holdings as at September 30, 2019
The following discrepancies were noted and corrected:
(a) In the Statement of Comprehensive Income, line item entitled “Revenues” was incorrectly reported as $746,352,137.00. When computed total revenues for the 9 months to September 30, 2019 amounts to $747,246,295.00.
(b) Within the Expenses category, the following discrepancies were noted:
I. Administrative and other expense for the 9 months to September 30, 2019 was reported as $26,712,598.00. When computed the foregoing line item totaled $28,554,037.00 representing a shortfall of $1,841,439.00.
II. Other Operating Expenses for the period was reported as $34,416,939.00. When calculated, operating expenses amounted to $33,555,759.00.
III. Finance expense was reported as $2,110,458.00 for the period. However, when computed the the finance expense for the 9 months ended September 2019 was $1,109,022.00.
(c) The Statement of Cash Flows was inadvertently titled “Second Quarter Ending June 30, 2019” instead of Third Quarter Ending September 30, 2019.
(d) In the Statement of Cash Flows, the line item “Dividend Payment” was reported as $17,705,000.00 while in the Statement of Shareholders’ equity the dividend paid was quoted as $17,505,000.00.
The second revision of the Third Quarter report for the period ended September 30 2019 resolves the following discrepancies found in the previous revision:
1. Total Expenses ended September 2018 amounts to $61,567,883 when summed. However, the reports states that it is $61,587,394. The difference amounts to $19,511.00
2. Consequently, Profit before taxation ended September 2018 should be $93,517,394 when summed, however, the report states $93,497,394. This reflects an overstatement of $20,000.00
3. Total Comprehensive gains ended September 2018 should be $93,540,116 when summed, however, the report states $93,520,116. The difference amounts to $20,000.00
4. In the Balance Sheet as at September 2018, the report states that Total current liabilities is $120,640,370, however, when the line items are added, Total current liabilities amount to $118,640,370 which causes the balance sheet to not be balanced. The difference amounts to $2,000,000.00″
