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Microcap & Penny Stocks : GLOW - Global Games, Inc. - Great Profit Potential !
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To: Bob Davis who wrote (6870)9/4/1998 10:42:00 AM
From: BigRedMan  Read Replies (2) of 8879
 
Bob,

You are exactly right. If the Auditor is not comfortable with closure on the 20MM shares, they will take the conservative stance. The worst situation is that the 20MM shares are unretrievable. The principle of conservatism dictates that unless sufficient doubt can be erased with regard to the retrieval of the shares, they must be accounted for as outstanding.

However, I have seen cases where an audit was delayed to allow more time for clearing up an issue. That is where our respective opinions differ, Bob. I DO believe the audit could very well be held up pending a legal review of the status of shares. Of course, there are other possible causes for the delay.

The funny thing is, to the unsuspecting investor, the numbers would look better WITH the 20MM shares outstanding! (A loss spread over more shares results in LOWER loss per share! <ggg>)

GO BIG RED!!!
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