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Microcap & Penny Stocks : THNS - Technest Holdings (Prev. FNTN)
THNS 0.00Jun 7 5:00 PM EST
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To: ChinuSFO who wrote (6800)9/25/1998 8:05:00 PM
From: The Philosopher  Read Replies (3) of 15313
 
Response from MS to my email (posted here earlier):

Thank you for your e-mail. We will announcing our audited numbers for y/e97
in the next couple of weeks. They are not too far off the un audited
numbers. If you know accounting we have had to open our books w/opening
numbers for 1998 and are in the process of doing the 9/30/98
nine months audited numbers. As we have stated in the past we are in the
process of applying for a reporting status w/SEC (form 10).

Michael Sheppard

I'm pleased to get a reply. But I am more than a bit concerned that it takes more than 6 months to get audited figures. As former VP Finance of a computer start-up I know full well how much work is involved in the audit, but we never took more than 3 months max. FNTN also has no interim quarterlies--no mention why not. Also, I note that the reporting status is still in process -- no projected date -- was to have been done long ago.

I'm not sure exactly what it all means -- maybe just management that is more concerned with other things than telling the shareholders how their investment is doing, or viewing financial statements as a low priority -- but it certainly doesn't quell the questions in my own mind about whether this management is ready for "prime time."

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