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Pastimes : Plastics to Oil - Pyrolysis and Secret Catalysts and Alterna -- Ignore unavailable to you. Want to Upgrade?

To: scion who wrote (9955)	7/26/2011 8:03:03 PM
From: scion	Read Replies (1) \| Respond to of 53574

Gately & Associates audited the acquisition purchase of JBI as it was a straight forward sale. We barcoded every asset and built a highly detailed asset ledger so that we were prepared to retain a large firm after we got a couple of acquisitions complete. Rawnoc Share Saturday, February 27, 2010 5:21:40 PM Re: ergo sum post# 30571 Post # of 124054 Auditor Questions Answered: When I acquired 310 Holdings Inc, Moore & Associates was the auditor. Our securities lawyer at the time, Joe Emas, advised us not to change auditors as the original owners had done so often. We did our DD on Moore and found them to be basically a "shell" auditor and we would eventually have to change them. Gately & Associates audited the acquisition purchase of JBI as it was a straight forward sale. We barcoded every asset and built a highly detailed asset ledger so that we were prepared to retain a large firm after we got a couple of acquisitions complete. There was no point in hiring one of the big 4 at that time and paying several hundred thousand per year in auditing and quarterly reviews until we were further along to warrant that. As you'll recall, Moore's left with little notice and misrepresented why they could now longer audit. Seal's was just as problematic so we used Gately and Associates to perform the review until we retain one of the big-4. We are now interviewing those firms now and looking for a CFO and will release news soon about our decision. We are proceeding carefully as the CFO must be a good fit and so must the firm. We are obviously looking in Boston and need a firm with specialists in Oil, Gas, Technology and M&A. Due to the pending chemical company acquisition, other acquisitions already in the queue, the P2O which is proceeding well, and the tape business, it is now the right time to retain one of the large auditing firms. Things are moving very quickly -- while it looked like we could use a small auditing firm for at least a couple of quarters during this transition, retaining a large firm is a high priority now. I am flying to Boston next week to meet with one. Regards, John Bordynuik CEO 310 Holdings Inc siliconinvestor.com