According to Investor Relations released by GONZO, the auditor of GONZO canceled the release of the audit report for the fiscal year 2008 because they strongly doubted the retainment of GONZO to be a going concern. GONZO will be ousted from the stock market soon.
The auditor pointed out that:
1. The amount of debts of GONZO has been in excess of their total asset for two years.
2. Some of the debts borrowed from the banks are overdue.
3. The restructuring plan presented by GONZO is unreliable.
GONZO stated that the good sales of “Strike Witches” and “Afro Samurai” contributed to the improvement of the operating income. However, the failures in other segments of the business expanded the amount of the total loss (3.4 billion yen).
They also mentioned that one of the production contracts of anime was canceled.
Sources:
IR from Gonzo (PDF file)
IR from Gonzo 2 (PDF file)
Update
Tokyo Stock Exchange Group announced that GONZO will be ousted from MOTHERS stock market on July 30th.
Source: Tokyo Stock Exchange
