Monsieur Pink,
Found this gem while skimming the Acrt 10-K.
"We have audited the consolidated balance sheets of Actrade International Ltd. and Subsidiaries as of
June 30, 1998 and 1997 and the related consolidated statements of operations, changes in
shareholders' equity and cash flows for the years ended June 30, 1998, 1997 and 1996. 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 did not audit the financial
statements of Actrade Forfaiting Incorporated, a wholly owned subsidiary of Actrade South
America, Inc. which statements reflect total assets of $5,206,835 as of June 30, 1998 and total
revenues of $3,540,016 for the year then ended. Those statements were audited by other auditors
whose report has been furnished to us, and our opinion, insofar as it relates to the amounts included
for Actrade Forfaiting Incorporated, is based solely on the report of the other auditors.
I'm sure M.Pink is aware of this tidbit. Are others? |
