Being AI did not pay majority owner $3.3m in rent

CEO David McDonald said the company was preparing a correction to release to the NZX. (Image: Being AI)

Wed, 04 Dec 2024

Being AI said a $3.318 million rent charge booked in its accounts, payable to its majority owners, was a “typo”, although the company does owe the owners more than $10m in loans.The New Zealand Exchange-listed (NZX) company posted its half-year results late afternoon on Friday, Nov 29, which also outlined some major changes for the company.Being AI was selling Being Consultants, the company's artificial intelligence (AI) consulting arm, back to David McDonald, who the company bought it from eight months ago.The sale resulted in...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

NZ stocks end firm after Sky, Vulcan, annual meetings

There were 84 rises and 54 falls on the main board.

Jamie Gray 6:00pm

Law & Regulation

Court rejects Uber Group bid to block Uber, One NZ partnership

A Northland telco is weighing its next move after losing a fight for the Uber name.

Garth Bray 4:25pm

Court rejects Uber Group bid to block Uber, One NZ partnership

Markets

SkyCity faces Adelaide reckoning by year-end

Casino operator releases details about regulatory situation in Adelaide.

Dileepa Fonseka 3:15pm

SkyCity faces Adelaide reckoning by year-end

Sponsored

Move-in ready offices: How business are rethinking workspace

Businesses want agility – and office space is evolving fast

Sponsored by Precinct Properties

Sponsored

NZ risks losing edge as Australia takes lead in cleaner jet fuel

Experts warn SAF delay could cost jobs and growth.

Z Energy

More Markets

Markets Market Close

NZ stocks end firm after Sky, Vulcan, annual meetings

There were 84 rises and 54 falls on the main board.

Jamie Gray 6:00pm

Primary Sector

Rising volumes push Port of Tauranga profit outlook higher

Port of Tauranga expects its full-year net profit after tax to fall somewhere between $137 million and $147m.The NZX-listed port company’s container volumes increased 9% to 319,649 TEUs in the first three months to Sept 30.Total trade increased 5.9% in volume compared to the same...

Staff reporters 3:19pm