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To: M Murphey who wrote (22711)	8/4/1998 10:24:00 PM
From: ElGator	Respond to of 27968

MM: In answer to your query regarding the length of time the audit is taking, I don't think there's anything to be concerned about on that point. A new audit firm has to go through a lot of steps on the first job with a company. There are permanent files that need to be built and nobody on the team has any experience with the company or its exact business. Initial audits ALWAYS take longer than subsequent jobs. The audit firm has to opine on the statements, so they have to ensure that they have covered all the bases to protect themselves from liability; particularly when the client is a public company. Much of the work on an initial audit is just learning about the company, its business and developing an audit program for the first time. Subsequent jobs go much faster because there is a permanent documentation file containing information gleaned about the company, the audit program already exists, there are workpapers from the prior audit; and there is usually at least one person from the prior year on the audit team who is already familiar with the company, its business and key staff. All things considered, the timing here sounds about right; it is a very involved process.

To: M Murphey who wrote (22711)	8/4/1998 11:23:00 PM
From: Lurker	Respond to of 27968

<<not saying that you intend to bash just letting you know we are sensitive, call it a hair trigger. >> Dude, you look downright stupid saying that John is bashing or impatient. I remember John saying in post #282 12/2/97: <<I'm looking for some money to buy more! :-) >> We were told many times that financials would be forthcoming, such as in post #211 on 11/26/97: <<AUDITED FINANCIALS should be out within apx. 2 - 4 weeks The company is right now in the process of having their financials audited. They are now at the final stage. The company would like to have them out by mid December, but are not sure if that is feasible. In my opinion, when audited financials are released, this will be a major event. The year end financials WILL be audited.>> So, after waiting a mere 8 months, you say John is a basher or impatient? How long should people wait for a company to post the financials they promise? (Until we believe that they will never deliver on their promise) 10 years? 50 years? Please give us a time frame. We have waited over 8 months. Lurker (Yeah, only 8 months and my hair-trigger has already been pulled.)