Powerland AG designs, manufactures, and sells bags, travel cases and accessories. The company produces a luxury line of women’s handbags, travel cases, wallets and purses, men’s handbags,
briefcases and belts.
In 2012 Powerland delayed the release of their financial statements. The reason for this delay was that the auditor of Powerland AG needed more time as aditional auditing procedures were required. Due to the aditional auditing procedures an impact was made on the figures of the financial report and investors were avdised to proceed with caution. Little information was released into the fraudlent case with Powerland AG, the company was listed in Germany
Powerland: Annual Report, 30 Apr 2012