Isn't Gately a fully recognized, fully licensed, in fully compliance and grace with the PCAOB?
Rawnoc Share Thursday, April 08, 2010 5:41:47 PM
Re: jjsmith post# 36180 Post # of 124054
ROFL!!! You found a 10 page detailed report about a period in 2004, took a single phrase in the 10 page report that was the title of a particular auditing procedure that happened to contain the word "fraud" in it, and thought that meant something? lolololol
Is that all you got? A phrase taken completely out of context in a 10 page report from 6 years ago? ROFL!!!!
Got anything in the last 6 years? Isn't Gately a fully recognized, fully licensed, in fully compliance and grace with the PCAOB?
siliconinvestor.com
jjsmith Share Thursday, April 08, 2010 5:22:01 PM
Re: None Post # of 124054
Quote:
Holy Crapola....I think I found the answer. JBII's using a PCAOB accredited auditor....whewwwww....that was close:
pcaobus.org
Below are excepts from the audit done By the PCAOB on Gatley.
a. Technical Competence, Due Care, and Professional Skepticism
The Firm's system of quality control appears not to do enough to ensure
technical competence and the exercise of due care or professional skepticism. In
addition to the deficiencies noted in Part II.A, the inspection team reported that the
Firm's policies and procedures appear not to provide reasonable assurance that the
Firm will apply AU 316, Consideration of Fraud in a Financial Statement Audit. [Issuers
B and C]
b. Auditor Communications
The Firm's system of quality control does not provide sufficient assurance that
the Firm will make or document all required auditor communications with audit
committees or Boards of Directors, including making independence confirmations
required by Independence Standards Board Standard No. 1, Independence Discussions
with Audit Committees, and formally documenting its communications. [Issuers A, B, C,
D and E]
c. Appropriate Procedures
The Firm's system of quality control appears not to provide reasonable
assurance that the Firm will conduct all testing appropriate to a particular audit. The
information reported by the inspection team suggests an apparent pattern of failures to
perform the appropriate procedures related to the testing of classification of debt
[Issuers A and B], revenue recognition [Issuers A and B], the recognition of beneficial
conversion features [Issuers A and B], and the valuation of intangible assets from
related parties [Issuers B and C].
****
Quote:
Well, I just spoke to Jordan Saxe and his response to me was that they consider every potential lister as "special". And if the company meets AMEX listing requirements, he will "invite" them to apply for a NASDAQ listing, and for the reason I stated - they compete with NYSE/AMEX for listings every day. Anyone can call and verify what i said, just pick up the phone:
Agreed. I posted months ago that Jordan was doing his job to solicit business from any and all companies. Can't believe it was spun to sound like an endorsement of JBII.
Quote:
My answer would be that he wouldn't have asked them to apply for listing on the nasdaq if there wasn't a reasonable chance (read: they meet requirements) of a successful uplisting.
To do otherwise would be a waste of the directors time...and I bet he's figured out how to use his time efficiently.
Not at all. They collect the $5k fee reguardless. Also, with out reviewing all the company info they would have no way to make any assumption on whether to list them or not.
Quote:
Sorry but your are dead wrong....Nasdaq contacted John asking him to apply for a listing
Ah..how do you think nasdaq makes moeny? How do you think they get compaines listed? They solicite them. They regularly contact otcbb companies and try to get them to list so they can make money. Without companies how would the exchange make any money?
Quote:
How is the management team compensated?
JBI uses performance-based compensation for part of each management position. Where required, any management contracts are disclosed through an SEC filing at the time they are established. John Bordynuik, Founder and CEO of JBI, receives an annual base salary of $1.
Really..check the filings! Several are on salary. One even made JBII put a years pay into escrow...LOL
Quote:
The whole world will be amazed when JBII's Plastic to Oil technology is demonstrated to shareholders and the media at the AGM.....only 2 weeks away.........z
Really..why would anyone be amazed? Apparently everyone already believes in p2o or the market cap wouldn't be in the $100's of millions. As stated before what will amaze people is if they actually get 1 site up and running and making money. It's the only thing that matters.
Quote:
>> way too many unanswered questions <<
Quality over quantity.
Having too many silly questions may be too many, but not a very savvy thesis for avoiding a stock.
I'm still waiting for just one unanswered intelligent question before I get concerned. Having a laundry list of silliness doesn't qualify.
This is a common response when they can't dispute the facts provided to them.
siliconinvestor.com
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