CYOE / Diana Corp. Why has the SEC not halted this pig? Message Board

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Technology Stocks : CYOE / Diana Corp. Why has the SEC not halted this pig?

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To: lindend who wrote (221)	6/30/1999 9:20:00 AM
From: Q.	Read Replies (1) of 242

It was only speculation when I mentioned that the auditor might question some of the revenue that was claimed in an earlier quarter, but if the auditor did that, yes, it would imply a restatement of a previous quarter's earnings. Arthur Andersen was the auditor a year ago. Price Waterhouse a year before that. Both auditors gave going concern qualifications in their reports. IMO some of the reported revenue wasn't the usual sort of revenue from selling products outright. Some was sold to related parties. And some was "sold" as a sideshow to an equity financing deal with Comdisco. Since there weren't very many sales of this size, I assume the auditor will look at them. I'll bet they don't sign off on it without at least looking twice.

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