My Answer:
When are DGIV financials coming out?
The filing is currently under review by the Company's counsel, Cohen, Brame & Smith. They are familiar with Digitcom, having previously worked with the Company, and are devoted to making our filing as strong as possible. To that end, they have returned their own comments and suggestions, and with the usual give-and-take, these are being incorporated in a revised draft. Most significantly, in terms of the time of submission, is their suggestion that the Company file after 2nd Quarter '98 financial results are compiled and can be made part of the filing.
There are two principal reasons that Management agrees that holding off to include 2nd Quarter results is the right course to take. First, filing within days of the end of the quarter would undoubtedly result in the Commission--days or weeks into their review--asking for the most recent Quarter's financial results, putting their review on hold until they are provided. Therefore, no time would be saved by filing early and amending it later. The second reason is more technical, but the consensus between Management and our Securities counsel is that the "Management's Discussion and Analysis" (MD&A) will be strengthened with the satisfaction of certain "Notes receivable" due at the end of the 2nd Quarter. With this done, we expect the usual Q&A exchange to be less than it would otherwise be.
Cohen, Brame & Smith are handling our filing with all the dispatch that prudence allows. They have much of the material already electronically coded and on file, so there should be no delay once the data is complete. Digitcom is looking forward to moving onto fully-reporting status as quickly as commonsense business judgment dictates.
- Jimmy Chin - CEO Digitcom - Friday, June 19, 1998 |
