The announcement for plans for NASDAQ listing is, arguably, the most important announcement this company has ever made. And I don't mean from the standpoint of getting additional investment, although that is very important. I mean from the standpoint of greatly lessening the risk that we have taken with our investment. Let me explain. From their announcement:
"anticipating the results of outside auditor Alex D. Domantay & Associates' report due in mid April"
That report will remove the lingering doubt in some of our minds that maybe this company is all air. I mean, even with all of the DD we have done, and the meetings some of us have had with Mr. Chin, there is still the outside chance that Mr. Chin has made it all up. Not that there is any evidence of that, but if you are paranoid like me, well... But this announcement states that an independent auditor will be providing financials in a couple of weeks. If there was a doubt that the company's claims were not real, they would not be announcing the release of independent audits. I've invested with companies that turned out to be shady, and the one thing they avoided were independent audits. The very word sent fears through the corporation. Continuing, from their announcement:
"announced the company's intention to file Form 10 and become a fully-reporting corporation"
In filing the Form 10, we as stockholders will have tremendous -- and legally binding -- information on their revenues, operating expenses, liquidity, R&D investments, business plans, etc. All of the data that is very hard to find on our own. And that the big investors need before puring money into it.
So I don't know how you all feel, but this is one of their most important announcements. |
