Mr. Pink,
You stated:
If CCSI's auditor's felt the company needs a going concern qualification, shouldn't you be just a wee bit concerned?
I don't know how you do your DD, but let me help you a bit. The following link is to the CCSI 10K for the year ending 12/31/97 and filed on 3/31/98.
edgar-online.com
On page 41 in that 10K, the Independent Auditor's Report reads as follows:
INDEPENDENT AUDITORS' REPORT
To the Board of Directors and Shareholders of
Chromatics Color Sciences International, Inc.
We have audited the consolidated balance sheets of Chromatics Color Sciences International, Inc. and subsidiary as of December 31, 1997 and 1996 and the related consolidated statements of operations, changes in shareholders' equity and cash flows for each of the three years in the period ended December 31, 1997. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Chromatics Color Sciences International, Inc. and subsidiary as of December 31, 1997 and 1996, and the results of their operations and their cash flows for each of the three years in the period ended December 31, 1997 in conformity with generally accepted accounting principles.
WISS & COMPANY, LLP
Livingston, New Jersey
February 17, 1998
Mr. Pink, I don't see a "going concern qualification." Do you see one? All I see is a clean report.
Surely you wouldn't be making public pronouncements based on out of date, year old information ... or would you?
Gotta wonder. |
