it is a 90% rate ive been told by several sec attorneys, that the sb10 is returned and the sec asks that certain accounting entries be restated, ive heard a rumor that this is what has happened to dgiv, they were asked to restate some expenses for 1996. it is 30 days before you can refile, im not 100% sure about the 30 days so if someone can verify. schedule c is almost always the culprit, many businesses get this, for example: if you have a company owned vehicle that you expense out, you cannot claim it as a company asset. if this is the reason some are going to sell, because they have to restate some expenses, that is a pretty weak excuse in my opinion. its not saying jimmy didnt do the work, its saying "ok, now that you have done the work, we want you to reconfigure some items/entries". like i said, this happens almost 90% of the time. like i said this is rumor, but even if it is true, being a business owner, i highly doubt that they get it 100% right the first time around.
macker |
