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ABIT reports multi-million losses during 2004

ABIT reports multi-million losses during 2004

A favourite motherboard manufacturer with many enthusiasts, ABIT, have recorded massive after-tax losses of close to £76 million according to a report on Digitimes today.

However, here comes the twist: the accountant who was commissioned to examine the company's financial report for 2004 has declined to fully endorse the data as shown in the report, meaning that the accountant is under the impression that there are parts of ABIT's financial inventory missing from the report. A report on a Chinese-language website has stated that the Taiwan Stock Exchange has demanded that ABIT update its financial report to reflect its current financial situation in its entirety.

ABIT have spent heavily on working closely with world-renowned professional gamer, Johnathan 'Fatal1ty' Wendel, in order to increase exposure of its products, along with creating the ACON series of professional gaming tournaments. We wonder whether this is paying off for the company, who are clearly showing financial strain if its end of year report is anything to go by.

The article goes on to state that ABIT are set to face more financial strain in the final quarter of this year, when investors could begin to demand pursuit of capital for the company's outstanding £28 million worth of unsecured convertible bonds.

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