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Microcap & Penny Stocks : Amazon Natural (AZNT) -- Ignore unavailable to you. Want to Upgrade?

To: Q. who wrote (23740)	9/1/1999 4:01:00 PM
From: Arcane Lore	Read Replies (2) \| Respond to of 26163

re. <<we do not express an opinion on the financial statements referred to above>> Wow. I've read quite a few auditor's reports over the years, and this is the first time I've seen this. Deja vu all over again In an preliminary attempt* to assess the frequency with which such statements appear in 10-K's, I went to AltaVista ( altavista.com ) and used the following search string: +"not express an opinion" +audit +discussion +"10-k" AltaVista returned 27 hits. Despite attempting to focus on 10-K's, 26 of the 27 references involved unaudited 10-Q's (or documents discussing unaudited quarterly reports). The remaining document: siliconinvestor.com turned out to refer to a 10-K from an old friend, Olympus Ventures. This company was later renamed Rocky Mountain International Ltd. (RMIL) and was touted, like AZNT, as representing a remarkable and inevitable short squeeze opportunity. Like AZNT shareholders, RMIL holders are still waiting for the inevitable short squeeze. The 10-K referred to in the SI message can be found at sec.gov One more thing, note that Olympus Ventures' rationale for being unable to supply the documentation requested by the auditors was that it was in the possession of prior management and unavailable to current management. As explained in Note 1 of the above 10-K: Current management has had communications with the officer that resigned to compel him to return the following to the Company: (1) the assets of CEA (including the ocean shipping vessel), (ii) the books and records of CEA, and (iii) the books and records of the Company from inception through December 31, 1995. To date, current management has been unable to reach an agreement with the former chief executive for the return of the above. Management is currently investigating its legal options, but believes that it may not be practicable or economically reasonable to further pursue this matter. I could not find AZNT's rationale for not providing adequate documentation (for example, inventory inspection) to the auditor in AZNT's 10-K. * Since no search engine provides comprehensive coverage of the Web, the list of hits is undoubtedly not exhaustive. In addition, other auditors may have refused to certify 10-K audits without using the specific phrase "not express an opinion". 10-K Wizard could potentially provide a much more comprehensive list, but unfortunately hiccups on the phrase "not express an opinion". Perhaps it is interpreting the 'not' as a logical not rather than part of the search phrase.