I'd like to preface this by saying that I have been uneasy with
the way things have gone recently, so I am just repeating what
I was told. My inuitive impressions are something you may want to discard, as they are personal and I could have been mislead.
But I do feel better now because I understand the delays.
Smith says he wished he'd never told RMJ or anyone when
the figures would be out because the accountants keep finding
"one more little thing that has to be taken care of.." and
he's very impatient, himself. The audit is more complicated
that I realized. We tend to think of it simply being for
CLYC, but it's an audit for all three companies in the past.
Each has to be audited separately, and going back some time
(I think as far back as three years) in order to file their
SB-2 (means they are are then a reporting company) which is
a requirement for filing for listing on NASDAQ.
He very reluctantly told me the date the accountants
now tell him this will be wrapped up, but agreed that
that it would be better that we not hold HIM
to it, so I am not posting it. It was pretty soon, though.
I think he's right not to say anything publicly anymore.
If he can't make it happen, then all that happens is we
get mad. (As a non-reporting company, they are not obliged
to do or say anything, and if saying anything causes problems,
then if I were him, I would say nothing until there's
something conclusive to say in the way of a report)
I asked if the first Q would be out soon after the year
end and he said very soon after. He did not think people
would be disappointed in the figures. He mentioned one sale
that stretched over a long period, so some of it would
be deferred into the next period. I don't know specifics.
Also, the Close Call cards finished printing, and shipping
began today to Hackney.(the distibutor with 30-something
outlets.
Also, McLane (Walmart) has notified then that want product
for distribution to their 48 outlets. This is the biggie
for them, the largest they are likely to have.
That's about it on business. We chatted a bit about him being
up in my neck of the woods for the race this w/e in Charlotte.
And also he sounded a bit sad that callers were taking
out their frustration on Brenda.
I made mention of dissatisfaction with RMJ and he asked
what people were saying and I told him. He listened
closely and made no comment.
--Madly |
