The following article describes differences between GAAP and IFRS accounting.

If the balance sheet does not show earnings for fiscal 2014, ending on April 30, then the company is liable to legal actions, specifically having to do with the changes to Level 1 Marketable Securities, and the closeout of the Waterton Agreement. Accounts Receivable should see the matching principle tie up the asset-liability mismatch.

Is someone being subjected to a swindle in GBN.V shares? Yes. Investors short selling GBN.V shares.. But I would say that investors holding GBN.V shrares are perhaps being penalised for their reticence. Surely they have to be sorely prejudiced under the circumstances.

http://financetrain.com/accrual-accounting-concept-in-ifrs-and-gaap/

-F6