At the risk of stirring this up even more, "forget the audit" might be easy for you to say, but late financials were the first step in a screwing I got a while back on another company.
I'm still bullish on this company (maybe foolishly so -- only time will tell), but I would feel better if FTEL would keep us updated on the status of the audit. I usually get an unconcerned sounding statement that it's still not out and nobody seems to know why. When it's this late, you have to ask yourself if it'll ever come out. Had I asked myself that same question on a previous company, I might've avoided a 98% loss in my investment in that company.
I'm hanging in there, but understand that I'm shitting bricks while doing so. I think it's my right to be concerned about the audit at this point. I have to wonder about the possibility that it'll never come out because it might look a lot worse than we've been told it will look. In any event, I can't even *think* about buying any more stock in this company, or participating in the PP until the audit becomes a historical fact.
Please don't anyone flame me for being so concerned about the lateness of the audit. I think it's a valid concern for any investor who likes to keep their eyes open while investing. Again, I don't care one whit about the contents of the audit. I just want it to come out! It's late, and that cannot be viewed as a *good* sign.
Last minute addendum:
Looks like (if I'm interpreting the numbers correctly) someone just bought 5,000 shares of FTEL at slighly less than the ask. I kind of feel like the pit boss at the roulette table saying "Good luck, sir." <g> Wish I could be more confident in the face of the late audit, but having been burned so severely in the past in an identical scenario, hanging in there is the best I can expect of myself.
Sorry, everyone, for the display of negative thoughts in what is an overwhelmingly optimistic thread. |
