I basically agree with everything you said. I have never believed that trading would resume on the 22nd, and I see that requirement as part of that transformation you mentioned from a "semi-public" company who thinks it's perfectly ok to make secret agreements with overseas entities to the detriment of the concept of full and open disclosure to one's shareholders, to a public company more sensitive to the laws of this country. Well, maybe that's not exactly what you said, but close enough :) Cross my fingers? I prefer to be more proactive then that. That's why I do my own dd when possible, that's why I spoke on the phone to Roger that time, and hey, can I ask you, would you not get into a rage when you are told one thing and it turns out not to be accurate?
Now, Cheryl called me today and clarified that indeed when she wrote the emails that she had spoken to DGIV about it. What she meant was that since then she had not heard anything. We spoke about a lot of things, but in the true spirit of DGIV I'm not going to reveal any of it, how's that? (::sarcasm alert::)
It's a real shame, in fact I say it's pathetic, that they can't meet the requirement to start trading again, which is simply to supply some sort of financial information to one market maker. This is a lot less onerous than supplying reams of documents to the SEC. That's my belief, anyway. I see them as 2 separate tasks. I guess the suspension was a cooling off period and the minimum they ask is for are financials to start trading again. Maybe they don't even have to be up to date financials, who knows? How hard can this really be? How long have they been working on this...you know it's over a year. Whoever or whatever is financing this company, hire a Big 6 Accounting firm and get on with it! Does anyone disagree? Don't hire Joe Blow's CPA-in-training firm to do it, and expect the SEC to accept that. I say that because I have this funny feeling that that is exactly what happened. But I can't say anything, I have an MOU saying I can't.
Are we having fun yet? OK, I'm going to give you all a break and not post for a few days. I'm counting on some really good hamburgers to bail me out of this.
Cheers.
Howard |
