I agree, this is definitely a concern. Since you had written to management and we did not hear back, this is definitely a cause for concern. At best it is shoddy accounting, at worst it might be some kind of a way to siphon off funds.
Accounting hygiene is definitely quite important. Given the lack of hygiene and management apathy for investors, I have decided to exit the company for now. There are many good companies which compete for capital.
Disc: Sold today, Full PF here.