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Microcap & Penny Stocks : Diplomat Direct (DIPL) - Internet - $100 mil/yr proj. sale
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To: blankmind who wrote (63)1/15/1999 11:39:00 PM
From: Andrew Martin  Read Replies (1) of 183
 
I believe the extension is a 90 day and goes until 15 Feb. which is about the same time as their last Qtr.ly rpt. is also due. If you look at their filings this same scenario took place last year. They filed both the 10K and the 10Q within 1) the extension timeframe and 2) at the beginning of the Qtr.ly due date.

The only thing which irked me about the delay was their blaming staffing at the auditor. Certainly no one believes that because one person leaves an auditing firm that a company's work would be delayed several months. Is there a serious shortage of auditors in NYC? I doubt it.

Although I've sold I am still watching the company closely and daily for a time to move. To that end I simply must have access to their 10K. I have some questions about their handling of stock and debt between officers and I must be able to verify there is a corresponding return on assets and equity to account for the transactions. Of course, when the "internet" story goes it will blow this rationale out of the water but there's likely two weeks between the 10K and the "internet thingy". That's why I sold -and am looking/waiting on the 10K. If I do get stuck in this thing I want to be sure I can expect further appreciation on the back side of the internet flush.

Regards,
-Andrew.
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