Mascon Global Ltd has informed that in the limited review report of the Company for the quarter ended June 30, 2007, the Auditors of the Company have made the following observations:
1. The Company has represented that the provision for Deferred Tax Liability, shall be recognized at the end of the financial year and therefore no provision for deferred tax liability of Rs 3,513,353/- had been made on the accounts in the interim Financial Results.
2. Earning per share (Basic and Diluted) is at (-) 1.11 rupee on Mascon Global Ltd Non-Consolidated Interim Financial results as at June 30, 2007 and 0.40 rupee in Consolidated accounts on that date, against Rs NIL and 0.10 rupee, mentioned in the Interim Financial Results referred to above.
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