Dave,
re your 3606, I am having a really hard time understanding why there is only the statement, "Progress being made, but audited finacials (sic) never happen as fast as we or they like." And further, "Auditors will be going over the accountants figures soon." And I also have a problem with, "MRPS will be addressing that in an upcoming PR."
Now, I was the Controller of a medium-sized (100M$) company, that was closely held. And, I worked in the Comptroller's Department of one of the Fortune 10 companies. There was never anything approaching the idea of "progress being made". And to say that, "audited finacial (sic) never happen as fast as we or they like", just flies in the face of reality as to how things are done. I would respectfully submit that PW, or Deloitte, or any other respected auditing firm would ever allow delays to occur. Neither would the SEC or shareholders. The backbone of the stock market is based on knowing what the Price to Earnings ratios are etc. etc.
If you don't know what the past earnings were, how the heck can you even come close to giving a value to a stock? Projected earnings are a necessary given to projected market capitalization of any stock.
It doesn't matter if it is micro-cap or large-cap. The basic principle is still the same.
There is no excuse for not releasing these financial statements. None whatsoever.
Vic |
