good to hear a second opinion from an elder, i trust the management despite the predicaments and im slowly accumulating arm.

When did Pradeep send a pick-up of cement to your boma?

Falsification of books aids no one.. If it's a loss call it a loss

Even elders can get it wrong without full info.Have you talked to an auditor who has ever been involved in their audit?
I hear guys have not been paid for like 4 months. That's how Nakumatt started. We shall revisit.

I doubt this.

i) Any company that issues a profit warning for the year ended 31 December 2017 in March 2018 can not have high corporate governance. For Christ's sake, the market is expecting audited results in March.

ii) The fact that ARM always reports in the last week of April should tickle your opinion of their corporate governance especially since they are not subject to prior approval from an industry line regulator such as Insurance companies and or banks. In fact if you recall, Bamburi has almost always traditionally reported within 2 months of year end (for full year) as well half year. So what's different with ARM Cement? Heck BAT even used to report within 1 month of period end (included audited financial statements).

If your assertion is true, then there must be something special about ARM's business that makes financial reporting not so straight forward. I am tempted to concur with the "cooking the books" theory.